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GoPro expects first quarter revenue at top end of previous forecast


´╗┐GoPro Inc (GPRO. O) on Wednesday estimated its first-quarter revenue at the top end of its previous forecast, and said it would cut about 270 jobs to reduce expenses in a bid to return to profitability in 2017. Shares of the company, which had 1,552 employees as of Dec. 31, were up about 7 percent at $7.89 in extended trading. GoPro had previously forecast its revenue to be $190 million to $210 million for the quarter ended March 31."We currently have no need to draw on our credit facility and we expect to be EBITDA positive for full-year 2017," Chief Financial Officer Brian McGee said in a statement.

"Actually, with where we are at, I think we will get to EBITDA positive ahead of the fourth-quarter (this year)", a GoPro executive told analysts on a conference call on Wednesday. GoPro also said it expects to see double-digit revenue growth in 2017.

The company said it does not expect to restructure further in terms of job cuts this year to return to profitability. The wearable action-camera maker has been struggling with slowing sales of its helmet- and body-mounted cameras as cheaper rivals emerge and smartphones feature increasingly advanced cameras.

Uber has until April 7 to respond to Waymo preliminary injunction bid: judge SAN FRANCISCO A federal judge on Tuesday extended the deadline for Uber to respond to a motion filed by Waymo, Alphabet's autonomous car unit, for a preliminary injunction in a high-stakes trade secrets case.

Oracle's cloud transition helps third-quarter profit beat Oracle Corp reported better-than-expected quarterly profit and adjusted revenue as the business software maker benefits from its transition to cloud-based products.

North Korean hacking group behind recent attacks on banks: Symantec BOSTON A North Korean hacking group known as Lazarus was likely behind a recent cyber campaign targeting organizations in 31 countries, following high-profile attacks on Bangladesh Bank, Sony and South Korea, cyber security firm Symantec Corp said on Wednesday.

Intels $15 billion purchase of Mobileye rewrites driverless landscape


´╗┐Intel Corp (INTC. O) agreed to buy Israeli self-driving technology firm Mobileye (MBLY. N) for $15.3 billion on Monday in a deal that could thrust the U.S. chipmaker into direct competition with rivals Nvidia Corp (NVDA. O) and Qualcomm Inc (QCOM. O) to develop driverless systems and components for global automakers. The acquisition of Mobileye could propel the world's largest computer chipmaker into the front ranks of automotive suppliers at a time when Intel has been downplaying its core semiconductor business. It also promises to escalate the arms race among the world's carmakers and suppliers to acquire autonomous vehicle technology, and could fuel already-overheated valuations of self-driving startups. The stakes are enormous. Last year, Goldman Sachs projected the market for advanced driver assistance systems and autonomous vehicles would grow from about $3 billion in 2015 to $96 billion in 2025 and $290 billion in 2035. Intel so far has not been a significant player in the sector, although it has invested in at least half a dozen startup companies developing different components for self-driving systems, from robotics to sensors. The acquisition of Mobileye could dramatically expand Intel's potential role in self-driving technology, with a broad portfolio that includes cameras, sensor chips, in-car networking, roadway mapping, machine learning, cloud software and data fusion and management."It's an area where (Intel) has had very little presence - the automotive market, and so this is a tremendous opportunity for them to get into a market that has significant growth opportunities," said Betsy Van Hees, an analyst at Loop Capital Markets."Mobileye's technology is very critical... The price seems fair," she added. The $63.54-per-share cash deal represents a premium of about 33 percent to Mobileye's closing price of $47 on Friday, but below its all-time high closing price of $64.14 in August 2015. The deal also could have an impact on the role of other self-driving component suppliers, including mapping company Here, as well as technology companies from Alphabet Inc's Google (GOOGL. O) to Chinese Internet giant Baidu Inc (BIDU. O).

Mobileye's shares jumped 29 percent to $60.96 in afternoon trade, while Intel's shares were down 2.1 percent. Shares of systems integrator Delphi Automotive PLC (DLPH. N) , which has partnerships with both companies, were up 3.4 percent. MERGING 'EYES' AND 'BRAIN' Intel will integrate its automated driving group with Mobileye's operations, with the combined entity run by Mobileye Chairman Amnon Shashua from Israel. Intel Chief Executive Brian Krzanich said the acquisition was akin to merging the "eyes of the autonomous car with the intelligent brain that actually drives the car."

Mobileye supplies integrated cameras, chips and software for driver-assist systems - the building blocks for self-driving cars - to more than two dozen vehicle manufacturers. In an interview in January, Shashua told Reuters: "If you want to build a truly autonomous car, this is a task for more than one player... The idea is to have a number of partners to share resources and data."After Monday's deal with Intel was announced, Shashua told reporters: "When you look at the combined assets of both companies, you see that they are really complimentary to each other."Mobileye was an early supplier of vision systems to Tesla, but the two companies had an acrimonious and public break-up last summer after the driver of a Tesla Model S was killed while operating the vehicle using Tesla's Autopilot system. Mobileye, founded in 1999, accounts for 70 percent of the global market for driver-assistance and anti-collision systems. It employs 660 people and had adjusted net income of $173.3 million last year.

Shashua and two other senior Mobileye executives stand to do well by the deal: together they own nearly 7 percent of the company. Shmuel Harlap, Israel's biggest car importer and one of Mobileye's earliest investors, also holds a 7 percent stake. BATTLE FOR SELF-CONTROL Mobileye and Intel are already collaborating with German automaker BMW