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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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February 24, 2015
10:08 EDTGRMNOptions with decreasing implied volatility
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February 20, 2015
16:48 EDTGRMNDow, S&P 500 finish week at record highs after Greek deal reached
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10:01 EDTGRMNOn The Fly: Analyst Downgrade Summary
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08:19 EDTGRMNGarmin downgraded at Atlantic Equities
As previously reported, Atlantic Equities to Neutral from Overweight. The firm downgraded shares based on lack of catalysts and valuation. Price target lowered to $55.
06:01 EDTGRMNGarmin downgraded to Neutral from Overweight at Atlantic Equities
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February 19, 2015
09:59 EDTGRMNOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Altisource Residential (RESI) upgraded to Neutral from Sell at Compass Point... Angie's List (ANGI) upgraded to Overweight from Equal-Weight at First Analysis... Barrick Gold (ABX) upgraded to Buy from Hold at TD Securities... British Land (BTLCY) upgraded to Buy from Hold at Societe Generale... Coach (COH) upgraded to Buy from Hold at Topeka... Fiat Chrysler (FCAU) upgraded to Outperform from Neutral at Exane BNP Paribas... Garmin (GRMN) upgraded at BofA/Merrill... Hologic (HOLX) upgraded to Buy from Hold at Canaccord... Iberdrola (IBDRY) upgraded to Neutral from Underweight at HSBC... KPN (KKPNY) upgraded to Neutral from Underperform at Exane BNP Paribas... Monster Worldwide (MWW) upgraded at Evercore ISI... Pharmacyclics (PCYC) upgraded to Buy from Neutral at Nomura... RPC, Inc. (RES) upgraded to Equal Weight from Underweight at Morgan Stanley... Sanofi (SNY) upgraded to Buy from Neutral at BofA/Merrill... Sasol (SSL) upgraded to Neutral from Underweight at HSBC... Tractor Supply (TSCO) upgraded at Oppenheimer... Valero (VLO) upgraded to Buy from Hold at Deutsche Bank... Weingarten Realty (WRI) upgraded to Neutral from Sell at UBS... Werner (WERN) upgraded on improving freight fundamentals at RBC Capital... diaDexus (DDXS) upgraded to Buy from Neutral at Ladenburg,
09:12 EDTGRMNOn The Fly: Pre-market Movers
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07:18 EDTGRMNGarmin upgraded at BofA/Merrill
As previously reported, BofA/Merrill upgraded Garmin to Buy from Neutral. The firm upgraded shares citing the pullback post Q4 results. The analyst believes weakness is overdone and expects Garmin to be able to protect its market share in the activity tracking products priced at $200 and below and to continue to leverage its vertically integrated business model to respond to changing market dynamics. Price target is $60.
06:33 EDTGRMNGarmin upgraded to Buy from Neutral at BofA/Merrill
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February 18, 2015
16:46 EDTGRMNOn The Fly: Closing Wrap
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10:59 EDTGRMNGarmin continues to look for opportunities for tuck-in acquisitions
10:43 EDTGRMNGarmin sees FY15 Automotive/Mobile revenue down about 15%
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09:10 EDTGRMNOn The Fly: Pre-market Movers
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07:04 EDTGRMNGarmin sees FY15 EPS about $3.10, consensus $3.24
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07:03 EDTGRMNGarmin board authorizes repurchase of up to $300M of common stock
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07:02 EDTGRMNGarmin board intends to recommend cash dividend of $2.04 per share
The board of directors intends to recommend to the shareholders for approval at the annual meeting to be held on June 5 a cash dividend in the amount of $2.04 per share, payable in four equal installments on dates to be determined by the Board.
07:01 EDTGRMNGarmin reports Q4 adjusted EPS 77c, consensus 78c
Reports Q4 revenue $803.31M, consensus $789.94M.
February 17, 2015
15:40 EDTGRMNGarmin technical comments ahead of results
Ahead of earnings the shares are moving higher, trading above the midpoint of the 1-year range. If the news meets or exceeds bullish expectations, next resistance levels are at $58.13, $60.19, and the 52-week high at $62.05. If the news fails to meet expectations, the following support levels could become downside objectives: $54.66, $52.89, and $50.08. A breakdown below $50 would snap the longer-term uptrend.
15:32 EDTGRMNNotable companies reporting before tomorrow's open
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14:21 EDTGRMNGarmin November volatility elevated into Q3 and outlook
Garmin March put option implied volatility is at 83, March is at 31, April is at 28; compared to its 26-week average of 27 according to Track Data, suggesting large price movement into the expected release of Q4 results on February 18.

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