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News Breaks
July 30, 2014
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.
News For GRMN From The Last 14 Days
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November 19, 2015
07:16 EDTGRMNGarmin to appeal ITC judgment in Johnson Outdoors investigation
Garmin International Inc., a unit of Garmin Ltd. (GRMN), announced that the International Trade Commission issued a final determination in the investigation brought by Johnson Outdoors (JOUT) against Garmin. The ITC concluded that first generation Garmin SideVu scanning sonar products were too similar to some claims of one of the three patents asserted by Johnson Outdoors. The ITC ordered that these Garmin products be excluded from import into the United States; however, the ITC is allowing Garmin to freely import these products temporarily and further recommended that Garmin be allowed to freely import modified products permanently. The ITC found that Garmin did not infringe Johnson Outdoors' two other patents. "Garmin disagrees with the ITC and plans to appeal the determination," said Andrew Etkind, Garmin vice president and general counsel. "Nevertheless, we do not expect the ruling to have any impact on Garmin customers or products. Garmin has already modified our software to address the ITC's ruling, and we are ready to ship those products today. The ruling will have no impact on Garmin products already purchased by our customers and dealers, or any products purchased going forward."
05:15 EDTGRMNJohnson Outdoors, Hummingbird receive favorable ITC ruling against Garmin
Johnson Outdoors (JOUT) confirmed that the full International Trade Commission, or ITC, has affirmed the initial determination by the Administrative Law Judge that Garmin (GRMN) violated section 337 of the Tariff Act of 1930 by importing and selling SideVu sonars, which the ITC affirmed infringe a Johnson Outdoors Inc. side scan sonar patent used in certain Humminbird fishfinders. The ITC affirmed that: All three patents asserted by Johnson Outdoors are valid and enforceable Numerous models of Garmin's SideVu sonars directly infringe six Johnson Outdoors patent claims. The ITC also issued: A limited exclusion order barring Garmin's infringing SideVu sonar systems and components thereof which are manufactured overseas from import into the United States; A cease and desist order prohibiting Garmin from selling or distributing any infringing product or component thereof from its inventory. The orders will go into effect pending the mandatory review by the U.S. trade representative.
November 18, 2015
15:49 EDTGRMNFCC documents point to new Garmin 'smart TV' streaming device
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07:05 EDTGRMNGarmin announces GAD 27 integrated controller
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November 17, 2015
09:02 EDTGRMNAnalyst pans competing products, says buy Fitbit
Shares of previous high-flier Fitbit (FIT) have dropped about 30% in the last two weeks following the company's third quarter earnings report, but an analyst at Bank of America upgraded his view of the fitness tracker maker this morning, saying that now is the time to buy ahead of fourth quarter results that may be boosted by the "underwhelming" new products being launched by its competitors. UNDERWHELMING COMPETITION: Fitbit's sales guidance for this holiday quarter looks conservative, contends Bank of America analyst Nat Schindler, who notes that the company only had the launch of one new product last December but will have the Charge, Charge HR and Surge to drive sales this season. Schindler also notes that the company's international advertising has expanded into more countries ahead of the holidays this year. Key, however, may be the "underwhelming" lineup of new or updated fitness trackers launched by competitors, such as the Microsoft's (MSFT) Band 2, Jawbone's UP4 and Sony's (SNE) Smartband 2, many of which have only minor improvements and no "must have" features to pull consumers away from Fitbit, Schindler told investors in his research note. PLATFORM PICKING UP STEAM: The analyst also pointed out that Fitbit now has more than 20 companies signed onto its health and wellness platform, including big names like Target (TGT) and Barclays (BCS), which he believes should help drive revenue beats in the upcoming fiscal year due to increased device sales. Also, the additional dashboard data should help Fitbit maintain long-term user engagement, said Schindler. APPLE WATCH: Apple's (AAPL) Apple Watch is largely viewed as the biggest potential competitive threat to Fitbit's offerings, but on the fitness tracker maker's last earnings call CEO James Park said Fitbit's products differ from those of its competitors in several key aspects, including pricing, cross-platform compatibility, brand awareness and product line breadth. Other wearables makers include Garmin (GRMN) and Samsung. PRICE ACTION: Since the day after Fitbit's last earnings report after the market close on November 2, its shares have fallen about 29.5% to close yesterday at $28.80. In pre-market trading this morning, Fitbit shares rose 2% to $29.40.
November 16, 2015
16:43 EDTGRMNGreenlight Capital added Apple, sold some SunEdison
Greenlight Capital gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: CNX Coal Resources (CNXC), Garmin (GRMN), Terraform Global (GLBL), and Liberty Global (LILA). INCREASED STAKES: Apple (AAPL), Michael Kors (KORS), Dillard's (DDS), UIL Holdings (UIL), and Twenty-First Century Fox (FOXA). DECREASED STAKES: SunEdison (SUNE), Micron (MU), Voya (VOYA), Applied Materials (AMAT), and SunEdison Semiconductor (SEMI). LIQUIDATED STAKES: Citizens Financial (CFG), Lam Research (LRCX), Spirit AeroSystems (SPR), Hertz (HTZ), and Macy's (M).
07:04 EDTGRMNGarmin introduces GPS 73 marine handheld
Garmin International Inc., a unit of Garmin Ltd., announced the GPS 73, a new low-cost marine handheld designed for mariners who want a simple, rugged, and reliable navigation solution. This easy-to-use handheld is packed with marine-specific features like man overboard, marine alarms, routing planning, and navigation. New SailAssist has also been added, offering sailing-inspired features like virtual starting line, race countdown times, distance to start line, speed history graph, and tack assist.
07:03 EDTGRMNGarmin says GSX 70 selected by Northrop Grumman for RQ-4 UAS
Garmin International, a unit of Garmin Ltd. (GRMN), announced the selection of the GSX 70, a full-featured solid-state weather radar by Northrop Grumman (NOC) for the U.S. Air Force fleet of RQ-4 Global Hawk unmanned aircraft systems. Equipped to fly at a maximum altitude of 60,000 feet with an endurance of 32+ hours, the Global Hawk is a high-altitude, long-endurance UAS.
November 13, 2015
15:04 EDTGRMNLeerink digital health analyst holds analyst/industry conference call
Digital Health Analyst Wardell discusses Fitbit and how many units will it sell in Q4, the Apple Watch and whether it is in a different product category than Fitbit on an Analyst/Industry conference call to be held on November 17 at 12:30 pm.

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