Why Garmin Stock Rose 11% in October
Garmin (NASDAQ: GRMN) shares beat the market month as the stock gained 11% compared to a 2% increase in the S&P 500 index, according to S&P Global Market Intelligence. The rally added to solid returns for the tech stock's shareholders, who are up 50% so far in 2019.
Image source: Getty Images.
Garmin pleased investors with a third-quarter earnings announcement late in the month that showed healthy momentum across its GPS device business. Popular consumer smartwatch releases combined with hit aviation and marine products to send sales higher by 15%. Profitability improved, too, leading to a 27% surge in adjusted earnings per share.
Source Fool.com
