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Stock Market & Financial Investment News

News Breaks
March 27, 2014
10:40 EDTGRMNGarmin continues rally after another upbeat analyst note
Shares of Garmin (GRMN) are climbing after research firm Oppenheimer, in a note to investors earlier today, predicted that the shares could rise further. WHAT'S NEW: Noting that Garmin's stock has climbed recently, Oppenheimer analyst Yair Reiner wrote that the shares have more room to run. Specifically, the stock is likely to rise further this year as the company's new products gain momentum, he contended. Garmin's new fitness and aviation products are likely to do well, he predicted. Given the strength of these new offerings, analysts' estimates for Garmin are likely to increase, predicted Reiner, who views the stock's valuation as attractive. He kept a $65 price target and Outperform rating on the shares. WHAT'S NOTABLE: Citigroup yesterday upgraded its rating on Garmin to Buy from Neutral, citing what it sees as the positive outlook for the company's new fitness activity monitor, vivofit. PRICE ACTION: In mid-morning trading, Garmin surged 5% to $58.10. Earlier the company set a new 52-week high of $58.21.
News For GRMN From The Last 14 Days
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August 1, 2014
16:51 EDTGRMNMarket finishes week lower as Fed, geopolitical worries weigh
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July 30, 2014
17:12 EDTGRMNOn The Fly: Closing Wrap
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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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