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Stock Market & Financial Investment News

News Breaks
June 30, 2014
07:01 EDTGRMNGarmin completes acquisition of Fusion Electronics
Garmin announced that it has completed the acquisition of Fusion Electronics and its subsidiaries. Based in Auckland, New Zealand, the new company will be known as Garmin New Zealand, a wholly owned subsidiary of Garmin, and will operate as “Fusion Entertainment.” Substantially, all the Fusion product line will remain available, as will support for the company’s existing products. Fusion Entertainment will continue to support all Fusion-Link partners accordingly. Financial terms of the acquisition will not be released.
News For GRMN From The Last 14 Days
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April 10, 2015
08:23 EDTGRMNGarmin may be appealing to value seekers, says Pacific Crest
Pacific Crest says its checks found no signs of a pause in demand for Garmin's (GRMN) products leading up to the release of Apple's (AAPL) Apple Watch. The firm suspects that Garmin may be less hurt by the Apple Watch than many believe, and it thinks downside risk from the launch of the Apple Watch has subsided. The firm believes that value seekers could see an opportunity in Garmin, but it keeps a Sector Perform rating on Garmin.
April 6, 2015
09:22 EDTGRMNGarmin trades lower after downgrade
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06:20 EDTGRMNGarmin downgraded to Sell from Buy at Citigroup
Citigroup analyst Jeremy David downgraded Garmin two notches to Sell from Buy saying competitive pressures are likely to stall the growth of the company's GPS fitness watch business. He also thinks revenue trends in Garmin's Outdoor segment could disappoint as the year progresses. David expects Garmin to miss consensus earnings and revenue expectations in Q1 and views the Apple (AAPL) Watch launch as another potential negative catalyst for shares. He cut his price target for the stock to $42 from $68. Shares of the navigation and information device maker closed Thursday down 58c to $46.49 after Goldman Sachs downgraded the stock Neutral from Buy.

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