Why Garmin Stock Is Sinking This Week
Shares of Garmin (NYSE: GRMN) -- home to a number of GPS-infused products -- were down 15% this week as of noon ET on Friday, according to data provided by S&P Global Market Intelligence.
The company reported third-quarter earnings on Wednesday and announced that sales grew by 12% and earnings per share (EPS) were flat.
These figures were less than what analysts had hoped for, so the stock dropped -- even though it raised its full-year EPS guidance from $8 to $8.15.
Source Fool.com
