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Garmin produces GPS-enabled hardware and software for five verticals: fitness, outdoors, auto, aviation, and marine. The company relies on licensing mapping data to enable its hardware specialized for often niche activities like scuba diving or sailing, among many others. Garmin operates in 100 countries and sells its products via distributors as well as relationships with original equipment manufacturers.

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Garmin Announced A New Montana Series – The Montana 710, Montana 710i And Robust Montana 760i – To Its Collection Of Handheld GPS Navigators

Tigress Financial analyst Ivan Feinseth maintains Garmin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) with a Strong Buy and raises the price target from $215 to $265.

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Tigress Financial Maintains Strong Buy on Garmin, Raises Price Target to $265

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly set to introduce satellite texting and a non-invasive blood pressure tool in its upcoming Watch Ultra.
What Happened: &nbsp;The satellite feature will allow users to send texts via Globalstar Inc.&#8217;s (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/GSAT#AMEX">GSAT</a>) satellites without cellular or Wi-Fi, <a href="https://www.bloomberg.com/news/articles/2024-12-10/apple-plans-apple-watch-ultra-3-next-year-with-satellite-texting-and-5g">reported</a> Bloomberg, citing people familiar with the matter.
This development positions the Ultra as the first mainstream smartwatch with satellite communication, potentially reducing the need for standalone devices like Garmin Ltd.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) inReach.
See Also: <a href="https://www.benzinga.com/24/12/42381987/apple-faces-12b-lawsuit-for-dropping-csam-detection-while-google-and-meta-set-higher-standards-for-child-safety?itm_source=parsely-api">Apple Faces $1.2B Lawsuit Over Child Sexual Abuse Material Detection On iCloud — Tech Giant Says, &#8216;Urgently And Actively Innovating&#8217;</a>
The blood pressure monitoring tool, also expected in 2025, aims to alert users of potential hypertension, though it won&#8217;t provide specific readings, the report noted.
However, the feature has been delayed before.
Why It Matters: Apple intends to boost smartwatch sales by introducing new features after a period of stagnation.
The company's Wearables, Home, and Accessories division, which includes watches, has experienced a decline in revenue over the past two years.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
In October, when Apple reported its <a href="https://www.benzinga.com/news/earnings/24/10/41666494/apple-q4-earnings-revenue-beat-eps-beat-installed-base-hits-new-highs-iphone-sales-rise-as-apple-in">fourth-quarter revenue</a>, Wearables, Home, and Accessories encompassed to $9.04 billion, down from $9.32 billion the previous year.
Last month, <a href="https://www.benzinga.com/news/24/11/41688837/apple-satellite-connectivity-provider-globalstar-stock-surges-after-deal-extension">Apple expanded its partnership with Globalstar</a> with a $1.1 billion services agreement extension.
According to Statista, as of the second quarter of 2024, Apple leads the smartwatch market with a 19% share of global shipments.
Price Action: Apple&#8217;s stock rose by 0.41% on Tuesday, ending the day at $247.77. However, after hours, it declined by 0.028%, settling at $247.70, according to <a href="http://pro.benzinga.com/">Benzinga Pro data</a>.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Photo courtesy: Apple
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Apple Watch Ultra Could Feature Satellite Texting And Blood Pressure Measurements: Here's What We Know

As the holiday shopping season begins to ramp up, the Consumer Discretionary sector is making waves. It is outperforming <a href="https://www.benzinga.com/topic/s-p-500-index">the broader S&amp;P 500 Index</a>. The sector posted an impressive 11.02% gain in November, significantly outpacing the S&amp;P 500&#8217;s 3.42% increase.
The Consumer Discretionary Select Sector SPDR ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) serves as a barometer of companies in the consumer discretionary sector in the U.S. The S&amp;P 500 Index, which tracks the board market, is mostly widely tracked by the SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), the iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>), and the Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>).
Driving the sector's strength are notable names like Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Garmin Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>), and Tapestry Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPR#NYSE">TPR</a>), all of which posted massive gains in November, signaling robust consumer spending trends and holiday optimism.
<h2 class="wp-block-heading">Tesla: Powering Ahead With A 33% Surge</h2>
With a dominant 17.51% weight in the Consumer Discretionary index, Elon Musk&#8216;s Tesla remains a force to be reckoned with, soaring 33% in November. The electric vehicle giant&#8217;s continued innovation and market leadership in EVs, paired with strong investor sentiment, have propelled it to the front of the pack. 
Whether it&#8217;s the new vehicle models or expanded global reach, Tesla&#8217;s meteoric rise is hard to ignore.
Read Also: <a href="https://www.benzinga.com/24/12/42262279/a-year-after-teslas-first-cybertruck-deliveries-the-truck-has-a-long-way-to-go-to-meet-musks-goals">A Year After Tesla&#8217;s First Cybertruck Deliveries, The Truck Has A Long Way To Go To Meet Elon Musk&#8217;s Goals</a>
<h2 class="wp-block-heading">Garmin: Navigating To New Heights</h2>
Garmin Ltd. also made waves, with a solid 27.86% jump. Despite its smaller index weight of 0.82%, Garmin&#8217;s strong performance is a testament to the brand's loyal customer base and continued innovation in GPS technology and fitness wearables. 
As consumers look to track their health, fitness, and travel plans this season, Garmin is in the driver's seat.
<h2 class="wp-block-heading">Tapestry: A Fashionable Trendsetter</h2>
Tapestry, the parent company of luxury brands like Coach and Kate Spade, saw a robust 27.02% gain in November, securing its place as a leading performer. The company's strong product offerings and growing consumer demand for luxury goods are positioning it for a stellar holiday season.
With a 0.36% weight in the index, Tapestry is a notable outlier, proving that even in challenging times, consumers are willing to splurge on high-quality fashion.
<h2 class="wp-block-heading">Other Standouts</h2>
It's not just the big names; a slew of other Consumer Discretionary stocks also posted solid gains in November. Booking Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>) was up 17.49% and Expedia Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>) gained 16.22%, benefiting from increased travel demand as holiday plans ramp up.
Cruise operators Royal Caribbean Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>), up 16.16%, and Carnival Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>), up 15.07%, surged amid optimism around travel bookings. Outdoor apparel maker Deckers Outdoor Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>), rising 15.58%, and Domino's Pizza Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NYSE">DPZ</a>), up 15.26%, also stood out as consumers embraced leisure and discretionary spending.
The strong showing of the Consumer Discretionary sector signals that Americans are feeling confident about their spending habits heading into the holiday season. 
With top performers like Tesla, Garmin, and Tapestry leading the charge, the sector is on track to continue its upward momentum. As the holidays approach, investors may want to keep a close eye on these names as they navigate the season of giving.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/12/42265010/amazon-and-walmart-dominate-black-friday-as-online-sales-soar-146">Amazon And Walmart Dominate Black Friday As Online Sales Soar 14.6%</a></li>
</ul>
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Holiday Momentum Pushes Retail, Leisure Stocks Past S&P 500 – Tesla, Garmin, Tapestry Stand Out

Garmin Unveils Descent X50i, Its Largest Dive Computer With Vivid 3" Color Touchscreen Display

Garmin Unveils All-new Approach R50 Premium Launch Monitor And Golf Simulator

These ten large-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Reddit, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) shares jumped 38.86% after the company reported third-quarter results and issued&nbsp;Q4&nbsp;revenue&nbsp;guidance&nbsp;above estimates, and many <a href="https://www.benzinga.com//node/41631795" target="_blank" rel="noreferrer noopener">analysts raised the price forecast</a>.</li>
<li>Paycom Software (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAYC#NYSE">PAYC</a>) stock escalated 27.95% after the company reported third-quarter results and <a href="https://www.benzinga.com/quote/payc/analyst-ratings" target="_blank" rel="noreferrer noopener">analysts boosted the price forecast</a>.</li>
<li>Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) gained 22.89% last week after the <a href="https://www.benzinga.com//node/41653083" target="_blank" rel="noreferrer noopener">company reported Q3 earnings</a> and sales that beat analyst estimates. Many analysts revised their <a href="https://www.benzinga.com/quote/mbly/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast on the stock</a>.</li>
<li>Exelixis (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXEL#NASDAQ">EXEL</a>) gained 22.43% after reporting better-than-expected Q3 earnings and raising its FY24 sales outlook. Many <a href="https://www.benzinga.com/quote/EXEL/analyst-ratings" target="_blank" rel="noreferrer noopener">analysts also raised their price forecasts for</a> the stock.</li>
<li>Garmin Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>)&nbsp;shares surged 22.11% after the company reported&nbsp;Q3 financial results <a href="https://www.benzinga.com//node/41625504" target="_blank" rel="noreferrer noopener">and raised its annual&nbsp;outlook</a>.</li>
<li>Roblox Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>) shares increased 22.07% after the company reported better-than-expected&nbsp;third-quarter results and a year-over-year increase in daily <a href="https://www.benzinga.com//node/41654520" target="_blank" rel="noreferrer noopener">active users and hours engaged</a>. Many analysts upped the <a href="https://www.benzinga.com/quote/rblx/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast on the stock</a>.</li>
<li>Twilio (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>) stock increased 20.39% after the company reported better-than-<a href="https://www.benzinga.com//node/41639676" target="_blank" rel="noreferrer noopener">expected&nbsp;financial results</a>. Several analysts boosted the <a href="https://www.benzinga.com/quote/twlo/analyst-ratings" target="_blank" rel="noreferrer noopener">stock&#8217;s price forecast</a>.</li>
<li>Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) shares rose 19.90% after the company reported quarterly results and several analysts revised the <a href="https://www.benzinga.com//node/41633681" target="_blank" rel="noreferrer noopener">stock&#8217;s price forecast</a>.</li>
<li>Waters Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAT#NYSE">WAT</a>) shares gained 19.31% last week. The company reported better-than-expected Q3 earnings and raised its annual outlook.</li>
<li>Atlassian Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>) climbed 18.87% last week on Q1 earnings and a strong Q2 outlook. The company&#8217;s board approved a new $1.5 billion share repurchase program, and many <a href="https://www.benzinga.com/quote/team/analyst-ratings" target="_blank" rel="noreferrer noopener">analysts boosted the stock&#8217;s price forecast</a>.</li>
</ol>
Also Read:
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<li><a href="https://www.benzinga.com/news/large-cap/24/11/41702898/super-micro-computer-li-auto-and-estee-lauder-are-among-top-10-large-cap-losers-last-week-oct-28-n">Super Micro Computer, Li Auto And Estee Lauder Are Among Top 10 Large Cap Losers Last Week (Oct 28-Nov 1): Are The Others In Your Portfolio?</a></li>
</ul>
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Reddit, Roblox And Garmin Are Among Top 10 Large Cap Gainers Last Week (Oct 28-Nov 1): Are The Others In Your Portfolio?

Barclays analyst George Wang maintains Garmin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) with a Underweight and raises the price target from $133 to $158.

Barclays Maintains Underweight on Garmin, Raises Price Target to $158

Wall Street experienced a mixed trading session on Wednesday as investors weigh a batch of corporate earnings <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41623984/us-economy-grows-less-than-expected-in-q3-yet-private-employment-soars-by-233-000">and fresh economic data.</a>
The U.S. economy grew at an annualized rate of 2.8% in the third quarter, according to advance estimates. This marks a slight deceleration from the previous quarter's 3% pace and falls short of analyst expectations of 3%.
On the employment front, the ADP National Employment report showed private payrolls surged by 233,000 in October —well above the 115,000 forecast and a significant increase from the revised 159,000 in September. This stronger-than-expected job growth underscores the resilience of the labor market ahead of Friday&#8217;s official jobs report.
In corporate news, Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) dropped 10% after posting quarterly results that met expectations but failed to excite investors. The decline in AMD shares dragged down the broader semiconductor sector, with the iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) sliding over 3%.
In contrast, Alphabet Inc. jumped more than 5% following a robust earnings report that beat Wall Street expectations, boosting optimism around mega-cap tech stocks.
At midday, major U.S. indexes were trading mixed. The S&amp;P 500 and the tech-heavy Nasdaq 100 remained flat, while the small-cap Russell 2000 outperformed with a 0.5% gain.
Gold prices extended all-time highs, up 0.5% to $2,787 per ounce. Oil prices surged 2%, fueled by supply concerns.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) eased 0.8% to $72,100, pulling back from recent highs.
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices </td>
<td>Price</td>
<td>1-day %</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,246.40</td>
<td>0.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,309.80</td>
<td>0.2%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,838.86</td>
<td>0.1 %</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,505.98</td>
<td>-0.1%</td>
</tr>
</tbody>
</table>
</figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent103024&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) inched 0.1% higher to $582.16.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.2% to $423.25.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) eased 0.2% to $499.18.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.5% to $222.76.</li>
<li>The Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) outperformed, up by 1.3%. The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, down 0.9%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) tumbled 33% after auditors Ernst &amp; Young announced their resignation amid reporting issues, five days ahead of the company&#8217;s earnings report. </li>
</ul>
Large-cap stocks reacting to earnings were:
<ul>
<li>Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), down 8%, </li>
<li>Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>), up 3.6%, </li>
<li>AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) up over 5%, </li>
<li>Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>), down 1.4%, </li>
<li>Chubb Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>), down 1%,</li>
<li>Mondelez International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>), up 1%, </li>
<li>Chipotle Mexican Grill Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>), down over 7%, </li>
<li>Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>), up 15%,</li>
<li>Reddit Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>), up 38%, </li>
<li>Automatic Data Processing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADP#NASDAQ">ADP</a>), up 1%, </li>
<li>Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>), up 24%. </li>
</ul>
Major companies reporting earnings after the close Wednesday include Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), and Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>).
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/10/41629264/alphabets-earnings-rally-pushes-magnificent-7-market-cap-to-record-16-8-trillion-10-tech-heavy-e">Alphabet&#8217;s Earnings Rally Pushes Magnificent 7 Market Cap To Record $16.8 Trillion: 10 Tech-Heavy ETFs Moving Wednesday</a></li>
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Wall Street Mixed, Semiconductors Tumble As AMD Disappoints, Alphabet Rallies, SMCI Plummets: What's Driving Markets Wednesday?

U.S. stocks were higher, with the Dow Jones index gaining around 50 points on Tuesday.
Shares of Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) gained 13.5% to $12.38 following better-than-expected <a href="https://www.benzinga.com/news/earnings/24/10/41627569/snap-stock-is-surging-today-whats-going-on">quarterly financial results.</a>
Snap reported third-quarter revenue of $1.373 billion, beating the consensus estimate of $1.358 billion, according to Benzinga Pro. The social media company reported adjusted earnings of 8 cents per share, beating analyst estimates of 5 cents per share.
Snap shares jumped 13.5% to $12.38 on Wednesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Reddit, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) shares jumped 41.3% to $115.48 after the company reported better-than-expected third-quarter financial results and issued fourth-quarter revenue guidance above estimates.</li>
<li>Omnicell, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OMCL#NASDAQ">OMCL</a>) gained 37% to $54.99 after the company reported better-than-expected third-quarter financial results and raised its FY24 guidance above estimates.</li>
<li>Unisys Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UIS#NYSE">UIS</a>) surged 30.7% to $7.03 after the company reported better-than-expected third-quarter sales results and raised its FY24 non-GAAP operating profit margin guidance.</li>
<li>ASP Isotopes Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASPI#NASDAQ">ASPI</a>) rose 30.7% to $7.53 after the company announced that it has entered into a term sheet with TerraPower for the construction of a HALEU production facility.</li>
<li>NerdWallet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NRDS#NASDAQ">NRDS</a>) gained 27.3% to $14.41 after the company reported better-than-expected quarterly revenue results.</li>
<li>AtriCure, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATRC#NASDAQ">ATRC</a>) surged 23% to $36.21 after the company reported better-than-expected third-quarter financial results and issued FY24 revenue guidance above estimates. Also, Needham maintained a Buy rating on the stock and raised its price target from $34 to $40.</li>
<li>Garmin Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NASDAQ">GRMN</a>) gained 22.9% to $204.48 after the company reported better-than-expected third-quarter financial results and raised annual outlook.</li>
<li>Exelixis, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXEL#NASDAQ">EXEL</a>) surged 14.6% to $32.92 after the company reported better-than-expected quarterly financial results and raised its FY24 sales guidance above estimates.</li>
<li>The Cheesecake Factory Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAKE#NASDAQ">CAKE</a>) gained 13.6% to $48.69 after the company reported better-than-expected quarterly adjusted EPS results. Also, multiple firms raised their respective price targets on the stock.</li>
<li>Adtalem Global Education Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATGE#NASDAQ">ATGE</a>) rose 12.7% to $84.53 following first-quarter results.</li>
<li>FMC Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FMC#NYSE">FMC</a>) gained 11.5% to $67.12 following better-than-expected quarterly earnings.</li>
<li>OneMain Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMF#NYSE">OMF</a>) rose 10.8% to $52.63 following strong quarterly earnings.</li>
<li>Smurfit Westrock Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SW#NYSE">SW</a>) gained 10.4% to $49.38 following third-quarter results.</li>
<li>Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) surged 6.2% to $129.21.</li>
<li>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) gained 5.3% to $180.25 following better-than-expected third-quarter earnings.</li>
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Snap Posts Upbeat Earnings, Joins Unisys, AtriCure, Garmin And Other Big Stocks Moving Higher On Wednesday

Garmin Ltd reported 24% revenue growth in Q3 2024, beating analyst estimates. EPS of $1.99 also beat expectations. Stock rose after earnings report.
Garmin Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>)&nbsp;reported fiscal third-quarter 2024 revenue growth of 24% year-on-year to $1.59 billion, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/n41620911/garmin-announces-third-quarter-2024-results" rel="noreferrer noopener">analyst consensus estimate of $1.44 billion</a>.&nbsp;
The GPS navigation and wearable technology company's proforma EPS of $1.99 beat the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate of $1.44</a>.&nbsp;The stock gained after the print.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41601664/msci-touts-strong-subscription-growth-ceo-says-q3s-recurring-sales-were-best-ever" rel="noreferrer noopener">MSCI Touts Strong Subscription Growth, CEO Says Q3&#8217;s Recurring Sales Were &#8216;Best-Ever&#8217;</a>
Segments: Revenue from Fitness grew by 31%&nbsp;year over year&nbsp;to $463.89 million, led by growth in wearables.
Outdoor revenue increased by 21%&nbsp;year over year&nbsp;to $526.55 million, primarily due to growth in adventure watches. Aviation revenue rose 3% year over year&nbsp;at $204.63 million,&nbsp;driven by aftermarket product categories.
Marine revenue increased by 22%&nbsp;year over year&nbsp;to $222.24 million due to contributions from the acquisition of JL Audio. Auto OEM&nbsp;grew 53% Y/Y&nbsp;to $168.71 million, primarily driven by growth in domain controllers.
The gross margin increased 300 bps to 60.0%, and the&nbsp;operating margin climbed to 27.6% from 21.2% a year ago.
Garmin generated $219.41 million in free cash flow for the quarter&nbsp;versus $311.88 million a year ago.&nbsp;It&nbsp;held $2.42 billion in cash and equivalents&nbsp;as of September 28, 2024.
&#8220;We are raising our 2024 outlook based on the results we have achieved so far and the momentum we are experiencing as we enter the important holiday selling season,&#8221; said&nbsp;Cliff Pemble, President and Chief Executive Officer of Garmin Ltd.
FY24 Outlook: Garmin&nbsp;expects revenue of $6.12 billion (<a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/40069263/garmins-q2-earnings-revenue-and-eps-beat-strong-performance-in-fitness-and-marine-segments-annual-o" rel="noreferrer noopener">prior $5.95 billion</a>) versus the&nbsp;consensus of $5.99 billion. It <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">expects a proforma EPS</a> of $6.85 (prior $6.00)&nbsp;against the&nbsp;consensus of $6.08.&nbsp;
Garmin&nbsp;stock gained over 31% year-to-date.
Price Action: GRMN stock is up 14.01% at $189.50 premarket at the last check on Wednesday.
Also Read:
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<li><a href="https://www.benzinga.com/news/earnings/24/10/41602159/leidos-q3-earnings-beat-expectations-with-strong-demand-in-defense-and-health-services-guidance-rai" target="_blank" rel="noreferrer noopener">Leidos Q3 Earnings Beat Expectations With Strong Demand In Defense And Health Services, Guidance Raised</a></li>
</ul>
Photo by Dontree_M via Shutterstock

Global

Garmin Q3 Earnings: Strong Revenue Growth Wearable Demand, Margin Expansion, Holiday Season Prompts Outlook Boost

WIIM

Garmin shares are trading higher after the company reported better-than-expected Q3 financial results and raised annual outlook.

2024 Fiscal Year Guidance:
Based on our performance in the first three quarters of 2024, we are adjusting our full year guidance. We now anticipate revenue of approximately $6.12 billion and pro forma EPS of $6.85 based on gross margin of 58.5%, operating margin of 24.0% and a full year effective tax rate of 16.5% (see attached discussion on Forward-looking Financial Measures).

Guidance

Garmin Raises FY24 Outlook: Adj EPS from $6.00 to $6.85 vs $6.08 Est; Sales from $5.95B to $6.12B vs $5.99B Est

Garmin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) reported quarterly earnings of $1.99 per share which beat the analyst consensus estimate of $1.44 by 38.19 percent. This is a 41.13 percent increase over earnings of $1.41 per share from the same period last year. The company reported quarterly sales of $1.586 billion which beat the analyst consensus estimate of $1.444 billion by 9.84 percent. This is a 24.10 percent increase over sales of $1.278 billion the same period last year.

Earnings Beats

Garmin Q3 2024 Adj. EPS $1.99 Beats $1.44 Estimate, Sales $1.586B Beat $1.444B Estimate

Lumishore offers premium LED lighting systems used on a variety of vessels from runabouts to superyachts.&nbsp;Lumishore is headquartered in&nbsp;Swansea, United Kingdom&nbsp;with a distribution center in&nbsp;Sarasota, Fla.&nbsp;A vertically integrated company with in-house R&amp;D and production, its associates will become part of the global Garmin workforce.

Garmin Acquires Privately-held Company Lumishore; Financial Terms Not Disclosed

Garmin Introduced G3000 Prime, Its Most Advanced Integrated Flight Deck Yet

Garmin Announced The Lily 2 Active – Its Latest In The Lineup Of Fashion-forward Smartwatches That Add Built-in GPS And Include Popular Health, Wellness And Connected Features

Garmin Unveils New Fusion Apollo Marine Speakers And Subwoofers That Merge Premium Sound Quality With Enhanced Visual Features

Tigress Financial analyst Ivan Feinseth maintains Garmin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) with a Strong Buy and raises the price target from $210 to $215.

Tigress Financial Maintains Strong Buy on Garmin, Raises Price Target to $215

Garmin Receives Certification Of G5000 Integrated Flight Deck For Cessna Citation XLS+ And XLS Gen2 Aircraft

The CEO of Garmin (GRMN), Clifton Pemble, disclosed the sale of 10,162 shares of company stock at $216.58 per share on December 16, for a total tra...

Garmin CEO Clifton Pemble sells over $2.2M in company shares

The wellness industry's strong growth is driven by the growing consumer awareness and health consciousness among consumers. Amid this backdrop, it could be wise to keep track of wellness stocks Lululemon Athletica (LULU), Garmin (GRMN), and Peloton Interactive (PTON), which might benefit from the fitness wave. Continue reading... The health and wellness market is flourishing, fueled by the growing popularity of plant-based diets, creating opportunities for plant-based foods. At the same time, corporate wellness programs are expanding as companies focus on enhancing employee well-being to address chronic illnesses and workplace stress.
Amid such conducive trends, investors could consider looking into fundamentally sound wellness stocks, Lululemon Athletica Inc. (<a href="https://stocknews.com/stock/LULU/">LULU</a>), Garmin Ltd. (<a href="https://stocknews.com/stock/GRMN/">GRMN</a>), and Peloton Interactive, Inc. (<a href="https://stocknews.com/stock/PTON/">PTON</a>).
The health and wellness market is booming as consumers are increasingly aware of the impact of diet on overall health. The increased popularity of plant-based diets and striving to achieve a fit lifestyle creates potential for the market. The global health and wellness market is expected to grow at a <a href="https://www.globenewswire.com/news-release/2024/08/07/2926131/0/en/Health-and-Wellness-Market-Size-to-Lead-USD-9-245-8-Bn-by-2033.html">CAGR of 5.4%</a> by 2033.
Moreover, in today's business landscape, the significance of employee well-being in fostering a productive workforce has gained substantial recognition. Corporate wellness programs have emerged as a strategic initiative to address the increasing prevalence of chronic diseases and work-related stress among employees. The U.S. corporate wellness market is forecast to grow at a <a href="https://www.technavio.com/report/us-corporate-wellness-market-analysis">CAGR of 9.4% by 2028</a>.
Considering these factors, let's take a look at the fundamentals of the three health and wellness stocks.
Lululemon Athletica Inc. (<a href="https://stocknews.com/stock/LULU/">LULU</a>)
LULU designs, distributes, and retails athletic apparel, footwear, and accessories under the Lululemon brand for women and men. It offers pants, shorts, tops, and jackets for a healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.
In terms of the trailing-12-month gross profit margin, LULU's 58.85% is 55.6% higher than the 37.82% industry average. Its 14.51% trailing-12-month <a href="http://www.investopedia.com/terms/l/levered-free-cash-flow.asp">levered FCF</a> margin is 222.8% higher than the 4.49% industry average. Likewise, the stock's 23.37% trailing-12-month EBIT margin is 188.8% higher than the 8.09% industry average.
During the third quarter that ended October 27, 2024, LULU's net revenue increased 9.1% year-over-year to $2.40 billion. Its gross profit grew 11.1% year-over-year to $1.40 billion. Moreover, its net income was reported at $351.87 billion and $2.87 per share, up 41.5% and 46.4% year-over-year, respectively.
Analysts expect LULU's EPS and revenue for fiscal 2026 to increase 7.5% and 9.2% year-over-year to $15.23 and $10.50 billion, respectively. It surpassed Street EPS estimates in each of the trailing quarters.
Shares of LULU have gained 23.1% over the past month to close the last trading session at $379.42.
LULU's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its outlook. LULU has a B grade for Sentiment and an A for Quality. It is ranked #35 among 60 stocks in the <a href="https://stocknews.com/category/fashion-luxury/">Fashion &amp; Luxury</a> industry. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
<a href="https://stocknews.com/stock/LULU/">Click here</a> to access the additional LULU ratings (Momentum, Stability, Growth, and Value).
Garmin Ltd. (<a href="https://stocknews.com/stock/GRMN/">GRMN</a>)
GRMN designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories.
In terms of the trailing-12-month gross profit margin, GRMN's 58.43% is 54.5% higher than the 37.82% industry average. Its 16.27% trailing-12-month levered FCF margin is 510.3% higher than the 4.18% industry average. Likewise, the stock's 23.18% trailing-12-month EBIT margin is 194.2% higher than the 8.09% industry average.
During the third quarter that ended September 28, 2024, GRMN's net sales increased 24% year-over-year to $1.59 billion. Its gross profit grew 11.3% year-over-year to $951.60 million. Moreover, its net income was reported at $399.11 billion and $2.07 per share, up 10.7% and 11.4% year-over-year, respectively.
Street expects GRMN's EPS for the fourth quarter ended December 2024, to increase 14.5% year-over-year to $1.97. The company's revenue is expected to increase 9.2% year-over-year to $2.41 billion for the same quarter. The company surpassed consensus EPS and revenue estimates in each of the trailing four quarters.
GRMN's stock gained 65.8% over the past year to close the last trading session at $208.99.
GRMN's fundamentals are reflected in its POWR Ratings. The stock has a B grade for Momentum and Quality. GRMN is ranked #20 out of 41 stocks in the <a href="https://stocknews.com/category/technology-hardware/">Technology - Hardware</a> industry.
Beyond what is stated above, we've also rated GRMN for Sentiment, Growth, Stability, and Value. Get all GRMN ratings <a href="https://stocknews.com/stock/GRMN/">here</a>.
Peloton Interactive, Inc. (<a href="https://stocknews.com/stock/PTON/">PTON</a>)
PTON operates an integrated fitness platform in North America and internationally. The company offers connected fitness products under the Peloton Bike, Peloton Bike+, Peloton Tread, Peloton Tread+, Peloton Guide, and Peloton Row names. 
PTON's trailing-12-month gross profit margin of 45.53% is 20.4% higher than the industry average of 37.82%. Its trailing-12-month EBITDA margin of 11.59% is 158% higher than the 4.49% industry average. Also, the stock's asset turnover ratio of 1.11x compares to the 0.99x industry average.
For the fiscal third quarter that ended September 30, 2024, PTON's total revenue increased 6.2% year-over-year to $586 million. Its gross profit rose 9.6% from the year-ago value to $303.80 million. In addition, as of September 30, 2024, the company's total assets stood at $2.16 billion, compared to $2.19 billion as of June 30, 2024.
Analysts expect PTON's revenue for the year ending June 2026 to increase 1.4% year-over-year to $2.50 billion. The company surpassed Street revenue and EPS estimates in each of the trailing four quarters, which is impressive.
The stock has gained 21.1% over the past six months, closing the last trading session at $9.38.
PTON's POWR Ratings reflect bright prospects. The stock has a B grade for Growth and Value. It is ranked #31 out of 55 stocks in the <a href="https://stocknews.com/category/consumer-goods/">Consumer Goods</a> industry.
In addition to the POWR Ratings highlighted above, one can access PTON's ratings for Momentum, Quality, Stability, and Sentiment <a href="https://stocknews.com/stock/PTON/">here</a>. 
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>

<hr />
LULU shares were trading at $382.00 per share on Monday afternoon, up $2.58 (+0.68%). Year-to-date, LULU has declined -25.29%, versus a 26.04% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Nidhi Agarwal</h2> <img src='https:/wp-content/uploads/2023/03/Nidhi-Agarwal_Headshot-3.jpg' style="float:left; padding:5px;width:125px;">Nidhi is passionate about the capital market and wealth management, which led her to pursue a career as an investment analyst. She holds a bachelor's degree in finance and marketing and is pursuing the CFA program.

Her fundamental approach to analyzing stocks helps investors identify the best investment opportunities.<a href="https://stocknews.com/authors/?author=nidhi-agarwal">More...</a>The post <a href=https://stocknews.com/news/lulu-grmn-pton-3-health-and-wellness-stocks-riding-the-fitness-wave/>3 Health and Wellness Stocks Riding the Fitness Wave</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Health and Wellness Stocks Riding the Fitness Wave

Garmin: Defying The Odds

Watch these stocks at CES as electric vehicles and autonomous driving take center stage

How is VOO stock faring? The Vanguard S&P 500 ETF is up 0.7% in the past five days and has risen 26.5% over the past year.&nbsp; According to TipRa...

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In a report released today, Joseph Cardoso from J.P. Morgan maintained a Hold rating on Garmin (GRMN – Research Report). The company's shares opene...

J.P. Morgan Remains a Hold on Garmin (GRMN)

How is SPY stock faring? The SPDR S&P 500 ETF Trust  is up 1.29% in the past 5 days and has risen about 26.3% over the past year. According to TipR...

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Press Releases

Garmin introduces its first large-format dive computer: Descent X50i

Entertainment

General

Garmin inReach Messenger Plus wins 2025 CES Best of Innovation award

Garmin's revolutionary Runway Occupancy Awareness technology honored with prestigious Laureate Award

Garmin Unified Cabin automotive OEM solution named 2025 CES Innovation Award Honoree

The year in review: Garmin releases 2024 Garmin Connect Data Report

Garmin and Qualcomm Reveal Next-Gen Digital Cockpit Solution Powered By Snapdragon Cockpit Elite Platform

Garmin presents Unified Cabin 2025: Its most capable and personalized automotive domain controller to date

Garmin brings peace of mind to motorcycle riders with the new zūmo R1 Radar

Introducing the Instinct 3 Series from Garmin: rugged smartwatches now with AMOLED displays

Garmin announces new Montana handheld GPS series with optional SOS satellite communication capabilities to help you stay in touch

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