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Stock Market & Financial Investment News

News Breaks
March 14, 2013
12:54 EDTGRMN, BDRBFGarmin to provide short term interest free loan of $173.7M to Bombardier
Garmin (GRMN) disclosed in a regulatory filing that its subsidiary Garmin International entered into a Memorandum of Agreement with Bombardier (BDRBF). In order to assist Bombardier in connection with delayed cash flows from the program to develop avionics system for the Lear 70 and Lear 75 aircraft for Learjet, a subsidiary of Bombardier, Garmin International agreed to provide Bombardier a short term, interest free, loan of $173.7M in cash in seven installments beginning on March 22, 2013 and ending on September 20, 2013 pursuant to the terms and conditions of the Agreement. Conditional upon Garmin International returning to Learjet a flight test vehicle and delivering specified Garmin software and hardware to Learjet no later than July 11, 2013, Bombardier will repay the loan in five installments beginning on November 1, 2013 and ending on March 7, 2014, provided that the repayment dates will be extended on a day for day basis if the July 11, 2013 milestone date is extended, the company said. Garmin International is the supplier of the avionics system for the Lear program and the delayed cash flows are partially related to the certification of the avionics exceeding the planned delivery date, the company said.
News For GRMN;BDRBF From The Last 14 Days
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July 30, 2014
17:12 EDTGRMNOn The Fly: Closing Wrap
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12:52 EDTBDRBFBombardier announces order for five Q400 NextGen turboprops
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10:36 EDTGRMNGarmin board approves intercompany restructuring
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10:02 EDTGRMNGarmin gaps up at open, turns negative on the session, levels to watch
The shares have reversed lower on the session by 6.3% after opening at $61.56. With price last at $54.06, next support is at $53.12. Resistance is at $54.98.
09:04 EDTGRMNOn The Fly: Pre-market Movers
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07:24 EDTGRMNGarmin raises FY14 gross margin outlook from 54%-55% to approx. 56%
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07:06 EDTGRMNGarmin raises FY14 pro forma EPS outlook to $2.95-$3.05 from $2.50-$2.60
FY14 EPS consensus $2.77. Raises FY14 revenue outlook to $2.75B-$2.85B from $2.6B-$2.7B, consensus $2.71B. The company said, "With strong results in 1H14, we are updating our guidance and now anticipate revenues of $2.75B-$2.85B, improved gross and operating margins and a lower pro forma effective tax rate. Our guidance anticipates promotional pricing for the holiday season, as well as higher spending in marketing and advertising to support new product categories resulting in margins that are lower than what we have experienced in the first half of the year."
07:04 EDTGRMNGarmin reports Q2 pro forma EPS $1.02, may not compare to consensus 76c
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July 29, 2014
15:53 EDTGRMNNotable companies reporting before tomorrow's open
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14:01 EDTGRMNGarmin technical notes ahead of results
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13:59 EDTGRMNGarmin August volatility increases into Q2
Garmin August call option implied volatility is at 41, October is at 27, January is at 24; compared to its 26-week average of 27, according to Track Data, suggesting large near term price movement into the expected release of Q2 results on July 30.
08:00 EDTGRMNGarmin should be bought on any weakness after results, says Oppenheimer
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07:51 EDTBDRBFBombardier announces firm order for five Q400 NextGen aircraft
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05:36 EDTBDRBFBombardier announces SNCF exercised option for 22 additional trains
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July 24, 2014
06:30 EDTBDRBFBombardier new structure revamp means job cuts, Reuters says
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06:08 EDTBDRBFBombardier COO Hachey to retire, announces new organizational structure
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July 16, 2014
08:29 EDTBDRBFBombardier signs conditional purchase agreement for up to 13 CS300 aircraft
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07:27 EDTBDRBFBombardier announces LOI for 5 CSeries Airliners by African customer
Bombardier Aerospace announced that an African airline and existing Bombardier customer, who wishes to remain unidentified at this time, has signed a Letter of Intent, or LOI, to acquire five CSeries airliners. Based on list pricing, a firm order for five CSeries aircraft would be valued at approximately $365M.
06:46 EDTBDRBFBombardier announces firm order by Nok Air for two Q400 NextGen aircraft
Bombardier Aerospace announced that Thai carrier Nok Air has converted two of four previously acquired Q400 NextGen aircraft purchase rights to firm orders. The purchase rights were acquired under a contract announced on November 19, 2013 that also included two firm-ordered aircraft and two options, which were converted to firm orders on March 31. Nok Air is the launch customer for the new extra capacity seating option of the Q400 NextGen turboprop. This option will allow the aircraft to accommodate up to 86 passengers and offer an advantage of up to 7% fuel burn per seat, as well as an overall operating seat cost advantage of up to 17% compared to its closest turboprop competitor. Based on the list price for the Q400 NextGen airliner, the firm order is valued at approximately $66M.

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