By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- The surging share price of
digital-sport camera maker GoPro garnered much of the market's
attention following the company's IPO Thursday, while the broader
tech sector saw a mixed performance.
GoPro (GPRO) shares surged more than 30% to close at $31.34 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.
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IPO?
Zulily (ZU) added to its prior-day's gains by rising 1% to close
at $40.30 after RBC Capital Markets analyst Mark Mahaney raised his
rating on the online retailer to outperform from sector perform.
Mahaney cited positive customer-satisfaction data and an expansion
beyond children's apparel as reasons for his upgrade. Mahaney set a
price target of $50 on Zulily's stock.
Mahaney's was the second upgrade in as many days for Zulily. On
Wednesday, Goldman Sachs analyst Debra Schwartz raised her rating
on the company to buy from neutral and lifted her price target to
$50 a share from $47.
Mild gains came from Twitter Inc. (TWTR), Yahoo Inc. (YHOO) and
Hewlett-Packard Co. (HPQ)
The tech-heavy Nasdaq Composite Index (RIXF) nearly reclaimed
all its losses before closing down almost 1 point at 4,379, while
the Philadelphia Semiconductor Index (SOX) gave up 0.4%.
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