Diamonds and Dogs
Ambarella (AMBA) moving past GoPro. The video-processing chip company jumped 13% following better than expected earnings. The company beat by 8 cents as revenues fell 19.3% year over year to $70.6 million. Ambarella also issued downside guidance for Q1, but investors seem to be relieved it wasn't worse. Ambarella is looking to move forward expanding sales in computer vision applications and the automotive market. Take that GoPro.
The $1, $2, $3 menu not adding up for McDonalds (MCD). McDonalds is down 4.6% today, its worst dollar decline in its history and its worst weekly drop since 2008 thanks to a downgrade from RBC. RBC Capital Markets cut its price target for the company to $170 from $190 and lowered its U.S. same-store expectations after a slow start to the $1 $2 $3 menu.