Business

Who could have seen this coming? Week after the CEO ordered his mega-yacht and 6 months after Jim Cramer said "it was going higher," GoPro has just slashed Q4 revenue guidance by 15% (from $510.9mm to $435mm) and has addtionally decided to layoff 7% of the workforce. For now, GPRO is halted... but Ambarella is not (and is collapsing 6% after hours) leaving them down 65-80% since Cramer said "buy buy buy."

Camera-On-A-Stick Statement:

Today's business media summarized...

Today's actual market summarized...

Last August, following the recent Chinese market rout, Deutsche's Jim Reid showed a chart he used for the first time in early June comparing the Shanghai Composite recent performance with that of the NASDAQ back in 1999-2000.

Via FactCheck.org,

President Barack Obama’s final State of the Union address came up short of the facts on several topics:

While the energy carnage over the past year has impaired commodities, mostly oil, and increasingly the equity and bond prices of US energy companies, so far one industry has been left relatively unscathed: banks. The reason for this was that over the past year banks have, in filings, earnings calls and investor meetings, taken every possible opportunity to assure investors they all overly provisioned for any potential losses stemming from their exposure to energy (despite the not one but two consecutive quarters of Jefferies earnings fiascos).