(Bloomberg) -- GoPro Inc. said it will cut more than 200 jobs, shift the company’s sales operation to market its digital adventure cameras directly to consumers and withdraw its 2020 financial guidance in response to the Covid-19 pandemic.The operational changes, staff reductions of more than 20% and cuts to office space will save $100 million in 2020, and reduce expenses next year to $250 million, the San Mateo, California-based company said Wednesday in a statement. GoPro said its shift to direct sales will mean a stronger focus on its website. The company said it still will use retail outlets for a small number of regions where such sales are preferred by consumers.“We have a clear opportunity to super-serve consumers’ demand for our products in a more direct and efficient manner which can have a positive impact on the profitability of our business,” Chief Executive Officer Nick Woodman said in the statement.While...
Transflo has partnered with American Trucking Associations on the Driver Assist Task Force platform and mobile app, a suite of free digital tools to give truck drivers and fleets health and safety information to help keep supply chains moving during situations like the recent COVID-19 pandemic. ...
Stock futures opened slightly lower Wednesday evening after a batch of historically weak economic data revealed the extent of the coronavirus' damage on the domestic economy....
A group consisting of American Trucking Associations President and CEO Chris Spear and CEOs from four major trucking companies have been selected to join President Trump’s Great American Economic Revival initiative, which is convening bipartisan groups of industry leaders from across all sectors of the U.S. economy. ...
On CNBC's "Closing Bell," Josh Brown revealed why he likes Slack Technologies Inc (NYSE: WORK).Brown has a long position in the stock and his first purchase was when it was trading much higher. After the stock declined, he decided to buy more at lower prices.Brown said the stock bounced off its 100-day moving average and there is a "pretty well-established inverse head and shoulders pattern" on its chart. If the stock breaks above $30, which is the neckline of the inverse head and shoulders, Brown said it would be in a good position to move much higher.He said the stock is expensive and it has always been expensive, but it's a part of the basket of stocks that benefit from the current COVID-19 quarantine situation.The Microsoft ImpactSlack went from 10 million to 12.5 million daily users and it converts around 16% of free users to paid, Brown said.He explained that the...
Stocks fell Wednesday after new economic data showed U.S. retail sales and manufacturing output each declined by massive margins in March amid the coronavirus pandemic....
