Camera maker GoPro to hit Wall Street

NEW YORK » GoPro has climbed mountaintops and dived to ocean bottoms. Now it’s headed somewhere only slightly tamer: Wall Street.

The maker of wearable sports cameras, loved by mountain climbers, divers, surfers and other extreme sports fans, said late Wednesday it sold 17.8 million shares at $24 each in its initial public offering of stock.

The IPO was priced at the high end of GoPro’s expected range and raised $427 million, valuing the whole company at about $3 billion. The proceeds from the IPO could rise to $491 million if underwriters use their option to buy more shares.

The stock will begin trading on the Nasdaq stock market Thursday under ticker symbol "GPRO."

The company is entering a busy time for initial public offerings, with seven companies expected to make their debut on the same day. It’s the third busiest week for IPOs since 2000, according to IPO investment adviser Renaissance Capital. But GoPro is likely to stand out. Its branded cameras have created a new market, selling electronics and accessories to people who want to take video of themselves jumping out of a plane or riding a skateboard — especially first-person videos that capture the experience as they saw it.

Barnes & Noble to separate retail, Nook

NEW YORK » Barnes & Noble is going to split its retail and Nook Media businesses into two separate public companies as it looks to boost shareholder value.

The company’s retail business includes its bookstores and BN.com businesses. Nook Media, in which Microsoft Corp. is an investor, houses the digital and college businesses of Barnes & Noble.

Barnes & Noble has been trying to turn itself around as competition from discount stores and online retailers toughens, and as readers shift away from traditional books to digital formats.

Barnes & Noble Inc. also reported its fiscal fourth-quarter loss narrowed to $36.7 million, or 72 cents a share, from a loss of $114.8 million, or $2.04 a share, a year earlier. Revenue for the period ended May 3 edged up to $1.32 billion from $1.28 billion.

Monsanto tops forecast, plans $10B buyback

WASHINGTON » Monsanto said its earnings fell more than 5 percent in the fiscal third quarter on lower biotech seed sales, but its performance topped Wall Street estimates and the company raised the lower end of its 2014 outlook. It also announced plans to repurchase $10 billion in shares.

Monsanto Co. said the $10 billion share buyback will take place over two years. The company has about $1.1 billion remaining under its previous share buyback plan.

The St. Louis company said it earned $858 million, or $1.62 per share, in the three months ended May 31. That was down from $909 million, or $1.68 per share, a year ago. Revenue was virtually flat at $4.25 billion.

ON THE MOVE

The Salvation Army Hawaiian and Pacific Islands has appointed Jennifer Hee as divisional executive director of development. Her responsibilities include serving as the chief development officer overseeing all development functions of the organization’s Hawaiian and Pacific Islands division as well as being the ambassador of TSA’s mission. Hee previously served as executive director for the Arthritis Foundation, Hawaii branch, and director of development for the University of Hawaii Foundation at the William S. Richardson School of Law.

TLC PR has announced Crystal Lee as an assistant account executive. She has several years of community outreach, public relations and communications experience, including serving as Miss Hawaii 2013 as well as interning at Becker Communications and working as a sales and promotional coordinator with Hawaii Pacific Entertainment.

Elite Pacific Properties has announced that Sean Ahearn has been named a partner of the company. He is a Kauai Realtor and will lead the effort of expanding Elite Pacific Properties on Kauai. Ahearn has more than 10 years of real estate experience and was named Kauai Realtor of the Year in 2008. Isle radio show lauded for automotive coverage

Local radio show "76 Hawaii Ohana Road," hosted by Bill Maloney and Ed Kemper, won a Best Radio award from the American Auto Racing Writers and Broadcasters Association at its recent annual gala.

The weekly magazine-format radio show airs on KHKA-AM 1500, known as "NBC Sports Radio," and features a "Motorsports Update" segment hosted by Kay Presto and Larry Mason, California automotive racing reporters.

Mason’s weekly segment took first place in the Radio Feature Program, Motorsports Roundup category, while Presto won second place for Live Racing Reports in the Feature Program category.