New User:

-or-
Username:
Password:
Forgot your password?

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
Sign up for a free trial to see the rest of the stories you've been missing.
August 27, 2015
14:42 EDTGRMNFitbit shares approach historical lows as Apple Watch gains traction
Fitbit (FIT) shares are eyeing their lowest levels since their IPO in June after the IDC reported that Apple (AAPL) Watch shipments are nipping on the heels of Fitbit's market dominance in wearables. WHAT'S NEW: The International Data Corporation, or IDC, released its quarterly wearables device report on Thursday, showing that Apple reached the number two spot in the global wearables market with 3.6M shipments of the Apple Watch during Q2. Notably, Apple Watch shipments lagged just 800,000 units behind Fitbit's 4.4M units for the quarter. Total shipment volume for the space was up 223.2% year-over-year to 18.1M. Commenting on the metrics, IDC research manager Ramon Llamas said Apple's "participation benefits multiple players and platforms within the wearables ecosystem," though he also cautioned that the tech giant "forces other vendors -- especially those that have been part of this market for multiple quarters -- to re-evaluate their products and experiences." Rounding out the numbers, Xiaomi shipped 3.1M wearable units in Q2, while Garmin (GRMN) shipped 700,000, and Samsung (SSNLF) shipped 600,000. HARDWARE CHALLENGES: Aside from concerns of user churn, an oft-noted potential risk for Fitbit investors is the potential that limited-use fitness wearables will be absorbed into grander, multi-function devices. On June 21, Barron's opined that specialized devices "often get subsumed," and provided the example of iPod's music functions being largely replaced by similar features in the iPhone. Various research firms have downplayed the "absorption" issue, however. On June 25, Leerink remarked that fitness trackers "occupy a different piece" of the market, and on June 30, RBC said its studies at the time showed divergence between fitness wearables and smart watches. Leerink reiterated its bullish view of the sector as recently as August 24, commenting that "interest in the category remains deep." PRICE ACTION: Shares of Fitbit have plunged roughly 9% in intraday trading, while Apple is up about 2% amid broader market gains.
08:38 EDTGRMNApple Watch shipments total 3.6M in Q2, IDC says
Apple (AAPL) reached the number two spot in the global wearables market, having shipped a total of 3.6M units of its Apple Watch in Q2, just 800,000 units behind Fitbit's (FIT) 4.4M units, according to the International Data Corporation's Worldwide Quarterly Wearable Device Tracker. Total shipment volume for the quarter came to 18.1M units, up 223.2% from the 5.6M units shipped in 2Q14. "Anytime Apple enters a new market, not only does it draw attention to itself, but to the market as a whole," noted Ramon Llamas, Research Manager for IDC's Wearables team. "Its participation benefits multiple players and platforms within the wearables ecosystem, and ultimately drives total volumes higher. Apple also forces other vendors - especially those that have been part of this market for multiple quarters - to re-evaluate their products and experiences. Fairly or not, Apple will become the stick against which other wearables are measured, and competing vendors need to stay current or ahead of Apple. Now that Apple is officially a part of the wearables market, everyone will be watching to see what other wearable devices it decides to launch, such as smart glasses or hearables." Xiaomi shipped 3.1M wearable units in Q2, while Garmin (GRMN) shipped 700,000 units and Samsung (SSNLF) shipped 600,000.
August 25, 2015
09:59 EDTGRMNOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
07:14 EDTGRMNGarmin introduces Edge Explore 1000 GPS bike computer
Subscribe for More Information
06:36 EDTGRMNGarmin upgraded to Outperform from Market Perform at Raymond James
Raymond James upgraded Garmin to Outperform from Market Perform with a $43 price target. The firm upgraded shares following the sharp market selloff and said the stock is as inexpensive as it has been on an absolute or relative basis since 2010. Raymond James said Garmin remains growth challenged near-term but recent currency moves should help in coming quarters and provide a tailwind.
August 20, 2015
18:32 EDTBDRBFBombardier says C Series aircraft certification tests 80% complete
Subscribe for More Information
August 17, 2015
07:04 EDTGRMNGarmin expands mutliyear navigation partnership with Honda
Subscribe for More Information
06:38 EDTGRMNApple Watch revenue leader in wearable category, Business Insider reports
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use