Market Currents

• Wednesday, November 4, 2009

• 09:00 AM Premarket gainers: GNVC +36%. ABK +26%. PACR +25%. IRE +20%. ACAS +18%. AIB +11%. MBI +9%. PMI +8%. ARNA +7%. HIG +7%. RDN +6%. EXM +6%. ALU +6%. MPEL +6%. XOMA +5%. IBN +5%. MGM +5%. GRMN +5%. DRIV +4%. FAS +4%. FRE +4%. RCL +4%. ING +4%. VGZ +4%.
  Losers: STEC -31%. VG -8%. CVM -6%. CCI -6%. BHI -4%. Comment!
• 07:10 AM Garmin (GRMN): Q3 EPS of $1.02 beats by $0.03. Revenue of $781M (-10.2%) vs. $704M. Gross margin 52%. Operating margin 30% from 25% last year. (PR) Comment!
• 00:05 AM Notable premarket earnings: ABK, ADP, AGU, BDX, BHI, CMCSA, DVN, FWLT, GRMN, HUN, IAG, LIZ, MFA, MMC, PHM, PWR, RDN, RIG, RRD, TAP, TEL, TOT, TRW, TWX, WTR, XTO 1 Comment

• Wednesday, October 28, 2009

• 11:42 AM Unsurprisingly, Google's (GOOG) in today's disruptive phone news: Verizon (VZ) and Motorola's (MOT) Droid phone - positioned strongly against the iPhone's (AAPL) features and network - goes on sale Nov. 6, featuring a new version of Google's Android OS. The new Android also features a free turn-by-turn mapping service, undercutting TomTom's $100 iPhone service and putting pressure on GPS hardware marketers including TomTom and Garmin (GRMN). 1 Comment

• Tuesday, September 29, 2009

• 12:13 PM Garmin (GRMN +0.6%) rolls out the pricey hybrid GPS/phone that observers expected, through a partnership with AT&T (T). But more than a few observers have pointed out that as GPS becomes a commodity, Garmin can't win. Comment!

• Friday, September 11, 2009

• 08:59 AM BofA/Merrill lifts Garmin (GRMN) to Buy and boosts price target by $15 to $45. Firm expects Garmin to benefit from the rebound in car sales. Shares +4.7% premarket. 4 Comments

• Thursday, September 3, 2009

• 17:27 PM Convergence in devices is a good thing for consumers and the big smartphone makers, writes Peridot Capitalist, but maybe not so good for standalone GPS firms like Garmin (GRMN) - planning to bring out its own geo-aware smartphone, and likely to lose the GPS commoditization battle. Comment!

• Wednesday, August 5, 2009

• 09:00 AM Premarket gainers: INO +42%. RDN +37%. GRMN +20%. PMI +18%. WFMI +16%. USU +14%. BZ +11. TRA +11%. LYG +11%. FWLT +10%. OWW +10%. AIB +8%. RBS +7%. FIG +6%. BCS +5%. CNO +6%. HW +5%. SATC +5%. SAY +4%. ABAT +4%. DVN +4%.
  Losers: ACAS -21%. ISPH -9%. PWR -6%. AXL -6%. HCP -5%. BMC -5%. RIG -4%. Comment!
• 07:13 AM Garmin (GRMN): Q2 EPS of $0.83 beats by $0.32. Revenue of $669M (-27%) vs. $657M. (PR) Comment!
• 00:05 AM Notable earnings before Wednesday's open: AGU, AVT, AXL, BHI, BYD, CNP, DF, DVN, EXM, FIG, FWLT, GRMN, MMC, OC, OSG, PCG, PG, PQ, PWR, RDN, RIG, RL, RRD, XTO Comment!

• Wednesday, May 13, 2009

• 13:20 PM Nasdaq leaders: APOL +2%. DTV +1%. Laggards: LINTA -11%. STLD -11%. FLEX -10%. WYNN -9%. LAMR -9%. EXPE -8%. LVLT -8%. SHLD -7%. NVDA -7%. UAUA -7%. DISH -7%. LBTYA -6%. LOGI -6%. AMAT -6%. VMED -5%. AMLN -5%. PCAR -5%. GRMN -5%. JOYG -5%. FAST -5%. WFMI -5%. MICC -5%. EBAY -5%. FWLT -5%. Comment!

• Wednesday, May 6, 2009

• 09:00 AM Premarket losers: ACAS -25%. GM -18%. GTU -14%. GRMN -11%. ATML -8%. FWLT -6%. SGY -6%. CRH -6%. DHI -5%. NVAX -5%. BCS -4%. Comment!
• 07:21 AM Garmin (GRMN): Q1 EPS of $0.25 misses by $0.17. Revenue of $437M (-34.2%) vs. $532M. Shares -1.8% premarket. (PR) Comment!
• 00:05 AM Notable earnings before Wednesday's open: ACAS, AGU, ANR, BX, BYD, DSX, DVN, FIG, FWLT, GRMN, HK, HPT, KWK, MGA, MMC, PCG, PWR, RIG, RRD, SNH, TTI, WNR, WTR, XTO Comment!

• Wednesday, April 22, 2009

• 09:37 AM Shares of Garmin (GRMN) are lower after rival TomTom posted a wider Q1 loss, and declined further guidance. "Market conditions were challenging during the quarter, exacerbated by the destocking of the channel by distributors and retailers," it says. GRMN -3% to $21.21. Comment!

• Tuesday, March 24, 2009

• 15:50 PM As its core cellphone business slumps, Sprint (S) wants to rent out excess network capacity to consumer gadget makers. Sprint already handles wireless downloads for Kindle (AMZN), and is in talks with Garmin (GRMN), Kodak (EK) and SanDisk (SNDK). Comment!