By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- While much of the tech sector was
in the red Thursday, the surge in shares of digital-sport camera
maker GoPro Inc. that garnered much of the market's attention as
the company made its public debut.
GoPro (GPRO) shares surged more than 30% to $31.35 as the
company went public in an IPO that opened at $24 a share. GoPro
sold 17.8 million shares and raised almost $430 million in its
IPO.
Zulily (ZU) added to its prior-day's gains by rising 2.4% to
$40.84 after RBC Capital Markets analyst Mark Mahaney raised his
rating on the online retailer of clothing for children and women to
outperform from sector perform. Mahaney cited high
customer-satisfaction data and expansion beyond children's apparel
among the reasons for his upgrade. Mahaney set a price target of
$50-a-share price on Zulily's stock.
It was the second upgrade in as many days for Zulily. On
Wednesday, Goldman Sachs analyst Debra Schwartz raised her rating
on Zulily to buy from neutral and lifted her price target to $50 a
share from $47.
Other mild gains came from Twitter Inc. (TWTR), Groupon Inc.
(GRPN), Yahoo Inc. (YHOO) and Hewlett-Packard Co. (HPQ)
The tech-heavy Nasdaq Composite Index (RIXF) fell 16 points to
4,364, while the Philadelphia Semiconductor Index (SOX) was off by
almost 1%.
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