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Stock Market & Financial Investment News

News Breaks
March 26, 2014
10:38 EDTGRMNGarmin advances after Citigroup upgrades rating on shares
Shares of Garmin (GRMN) are climbing after Citigroup upgraded its rating on the stock, citing what it sees as the positive outlook for the company's new fitness activity monitor, vivofit. WHAT'S NEW: Garmin’s new product for fitness enthusiasts, vivofit, is likely to become a hit, Citigroup analyst Jeremy David wrote. The product, which is worn on the wrist, tracks the number of steps, distance traveled, and calories burned of its users, according to the company. vivofit has a reasonable price, and it is the only wrist-based activity monitor whose battery lasts one year or more, David reported. Garmin can be number one or number two in the activity monitor market over the next six months, the analyst predicted. A competing product, the Force activity monitor, had to be recalled as a number of users complained that it caused their wrists to become irritated, the analyst noted. Garmin's vivofit is likely to fill the vacuum created by Force's problems, the analyst predicted. David increased his 2014 revenue estimate for the company by $98M to $2.73B. Analysts' consensus estimate is $2.64B. He raised his 2014 earnings per share estimate for the company to $2.77 from $2.54. Analysts' consensus estimate is $2.61. PRICE ACTION: In mid-morning trading, Garmin rose $1.60, or 3%, to $56.
News For GRMN From The Last 14 Days
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July 6, 2015
10:07 EDTGRMNGarmin says ALJ initially determines no infringement on Navico patents
Garmin International, a subsidiary of Garmin, announced that an Administrative Law Judge at the International Trade Commission issued an initial determination in the investigation brought by Navico Holdings against Garmin. The ALJ’s initial determination concluded that Garmin’s DownVü scanning sonar technology does not infringe upon any patented aspect of Navico’s downscan technology, the company said, adding that the ruling is subject to review by the ITC.
June 26, 2015
07:01 EDTGRMNGarmin introduces Rino 650t two-way radio handheld
Garmin International announced a new model of rugged two-way radio handhelds, the Rino 650t. Boasting a built-in 5-watt FRS/GMRS radio for a communication range of up to 20 miles, the Rino 650t comes preloaded with detailed TOPO U.S. 100K maps and a one-year subscription to BirdsEye Satellite imagery. Like previous Rino models, the new 650t features a 2.6” glove-friendly color display and a full navigational toolset with high-sensitivity GPS, barometric altimeter, 3-axis electronic compass and NOAA weather radio.

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