Garmin (NYSE:GRMN) Stock

Garmin

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.

Garmin Ltd

News

GRMN

Garmin Smartwatches Adds Turn-By-Turn Directions With Google Maps In Connect IQ Store

Garmin Launches Force Current, First Hands-Free Kayak Trolling Motor With Wireless Throttle and Steering for Unmatched Fishing Control

<a href="https://www.benzinga.com/topic/cathie-wood">Cathie Wood</a>'s two favorite <a href="https://www.benzinga.com/topic/elon-musk">Elon Musk ventures</a>—Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and <a href="https://www.benzinga.com/topic/spacex">SpaceX</a> &#8211; are heading for the stratosphere, but not at the same speed.
According to Wood's latest projections, Tesla stock could hit <a href="https://www.barchart.com/story/news/31623928/why-cathie-wood-thinks-tesla-stock-can-still-hit-2-600-by-2030">$2,600</a> by 2030 &#8211; that&#8217;s a jaw-dropping $8.19 trillion market cap (assuming no change in shares outstanding). On the other hand, she sees SpaceX at a lofty <a href="https://unusualwhales.com/news/ark-invest-estimates-spacexs-value-could-grow-from-350-billion-today-to-2-5-trillion-by-2030">$2.5 trillion</a> by 2030.
That means SpaceX, even after launching thousands of satellites and pioneering global broadband via Starlink, would be valued at just 30.5% of Tesla, giving investors a dramatically lower-cost way to bet on Musk's empire.
Read Also: <a href="https://www.benzinga.com/markets/tech/25/06/46095199/netflix-meta-microsoft-power-qqqs-golden-cross-is-the-rally-just-beginning">Netflix, Meta, Microsoft Power QQQ&#8217;s Golden Cross – Is The Rally Just Beginning?</a>
<h2 class="wp-block-heading">Starlink Lifts Off, But Tesla Stays ARK's Crown Jewel</h2>
ARK's thesis? Starlink's constellation &#8211; en route to 42,000 satellites &#8211; could haul in $300 billion annually, putting it in Apple Inc territory. "Starlink will be the primary driver of SpaceX's growth," ARK notes, seeing it capture 15% of global communications spending.
Yet even with that, Tesla's innovation stack &#8211; from EVs to Optimus robots and energy storage &#8211; remains unmatched in ARK's model. "Tesla aligns perfectly with our disruptive innovation framework," ARK says, sticking to its $2,600/share target despite political drama surrounding Musk's controversial role in President Donald Trump&#8216;s administration.
<h2 class="wp-block-heading">Public Exposure? Tesla's Easy. SpaceX? Not So Much.</h2>
While Tesla trades on the Nasdaq, SpaceX remains private, forcing investors to access it via its suppliers, such as Garmin Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) and Wistron NeWeb, both riding the Starlink expansion wave.
The big picture? Wood expects both companies to dominate their domains. But if you&#8217;re looking for the cheaper Musk stock, SpaceX might just be the bargain, assuming it ever goes public.
Until then, investors will have to choose: the headline-hogging Tesla, or the stealthy satellite surge of Starlink's mothership.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/tech/25/06/46075062/why-this-fidelity-fund-manager-is-buying-china-tech-over-the-magnificent-seven">Why This Fidelity Fund Manager Is Buying China Tech Over The Magnificent Seven</a></li>
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Photo: JHVEPhoto/Shutterstock

Long Ideas

Tech

Trading Ideas

TSLA

Cathie Wood's 2030 Math: Tesla Rockets Past SpaceX By $5.7T

Garmin Expands FAA Data Comm Solution To Now Include Broad Retrofit Market With Over 25 Makes And Models Added To FAA Data Comm Participation List

Garmin Unveils Tacx Alpine Gradient Simulator To Deliver Realistic Indoor Cycling Experience With Climb Replication And Steering

Garmin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) today announced the <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4451151-1&amp;h=3318746050&amp;u=https%3A%2F%2Fwww.garmin.com%2Fen-US%2Fp%2F1650098&amp;a=Index%E2%84%A2+Sleep+Monitor">Index&#x2122; Sleep Monitor</a>, an ultra-comfortable and lightweight smart sleep band that tracks sleep for a more comprehensive view of overall fitness and recovery. Featuring up to 7 nights of battery life with continuous Pulse Ox tracking, the Index Sleep Monitor is worn on the upper arm and tracks sleep stages, heart rate variability (HRV) status, breathing variations, skin temperature and more to calculate a sleep score for users and provide valuable insights about their health1. After a night of sleep, the data seamlessly syncs to the Garmin Connect&#x2122; smartphone app and can be combined with metrics from a compatible Garmin smartwatch to fill in gaps in data for users who don't wear their watch at night or are looking to better understand how well they recovered.
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Garmin Launches Smart Sleep Band That Tracks Breathing, Heart Rate, and Recovery While You Sleep

Garmin Builds Its First-Ever Bike Computer For Mountain Trails With Edge MTB's Rugged Design And 26-Hour Battery Life

Ultrawide and simplified to deliver a more streamlined and immersive experience at the helm

Garmin Unveils GPSMAP 15x3 With Ultrawide 15-Inch Touchscreen For Streamlined And Immersive Helm Experience

Garmin Announces Tread 2 - Overland Edition And Tread 2 - SxS Edition Navigators To Enrich Off-Road Adventures

Garmin Develops SmartCharts To Simplify Terminal Procedures For Pilots

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Shares of companies within the broader consumer discretionary sector are trading higher after the US and China agreed to a temporary reduction in most tariffs on each other's goods. This could alleviate supply chain uncertainty in the sector.

Garmin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) today announced expanded coverage of the Garmin Navigation Database to include the South Pacific region, including Australia, New Zealand and surrounding countries. Previously available to aircraft owners and operators in the Americas and Europe, the Garmin Navigation Database delivers a new option for South Pacific region customers to incorporate the latest aviation navigation information into their Garmin avionics. Offered for a variety of Garmin aviation products, including integrated flight decks, navigators, flight displays, portables and more, the new Garmin Navigation Database for the South Pacific region introduces a variety of cost-effective ways to purchase database updates. This includes single updates, annual bundle options and OnePak&#x2122; subscriptions for all compatible avionics in an aircraft.
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Garmin Expands Aviation Navigation Coverage to Include South Pacific, Offering Cost-Effective Updates

JP Morgan analyst Joseph Cardoso maintains Garmin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) with a Neutral and lowers the price target from $220 to $215.

Price Target

Analyst Ratings

JP Morgan Maintains Neutral on Garmin, Lowers Price Target to $215

Morgan Stanley analyst Erik Woodring 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 $159 to $172.

Morgan Stanley Maintains Underweight on Garmin, Raises Price Target to $172

KeyBanc Capital Markets analyst Noah Zatzkin <a href="https://www.benzinga.com/quote/GRMN/analyst-ratings" target="_blank" rel="noreferrer noopener">reiterated a Sector Weight</a> rating on Garmin Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) on Wednesday.
Garmin reported on Wednesday <a href="https://www.benzinga.com/news/earnings/25/04/45107024/garmin-lifts-sales-outlook-but-tightening-margin-sends-stock-sliding" target="_blank" rel="noreferrer noopener">first-quarter 2025</a> revenue growth of 11% to $1.54 billion, beating the analyst consensus estimate of $1.50 billion. 
The GPS navigation and wearable technology company&#8217;s adjusted EPS of $1.61 missed the&nbsp;consensus estimate&nbsp;of $1.67.&nbsp;
Also Read: <a href="https://www.benzinga.com/25/02/43812509/garmin-q4-earnings-wearables-and-adventure-watches-drive-growth-raises-dividend-20-projects-68-billion-revenue-for-2025" target="_blank" rel="noreferrer noopener">Garmin Q4 Earnings: Wearables and Adventure Watches Drive Growth, 20% Dividend Hike, Stock Soars</a>
Garmin&nbsp;now expects fiscal 2025 revenue of $6.85 billion versus the&nbsp;analyst consensus estimate of $6.83 billion. It&nbsp;reiterated an adjusted EPS&nbsp;outlook of $7.80&nbsp;against the&nbsp;analyst consensus estimate of $7.92.&nbsp;
Garmin delivered slightly softer EPS versus the Street on a top-line beat and adjusted the fiscal 2025 revenue guide upward, with EPS guidance unchanged.
The top-line beat was driven by stronger Auto OEM (+$25.1 million versus consensus) and Outdoor strength (+$2.8 million versus consensus) via adventure watch growth, partially offset by slightly softer revenue in Aviation (-$1.3 million versus consensus), Fitness (-$4.6 million versus consensus), and Marine (-$7.3 million).
Garmin tweaked its fiscal 2025 guide, now looking for revenue of $6.85 billion (versus $6.8 billion prior, versus consensus at ~$6.82 billion), but maintaining adjusted EPS guidance of $7.80 (versus consensus at ~$7.87), including gross margin of 58.5% (versus 58.7% prior, consensus at ~58.6%) and operating margin of 24.8% (versus 25% prior, consensus at ~25%). 
By segment, Garmin expects the following revenue growth breakdown: Fitness +15% Y/Y (versus +10% Y/Y prior); Outdoor unchanged at +10% Y/Y; Aviation unchanged at +5% Y/Y; Marine ~flat Y/Y (versus +4% Y/Y prior) and Auto unchanged at +7% Y/Y.
Zatzkin&#8217;s fiscal 2025 EPS changed to $7.80 (from $7.71) to reflect the guide, and his fiscal 2026 EPS changed to $8.28 (from $8.16), reflecting continued resilience, momentum and tariff mitigation efforts.
GRMN Price Action: Garmin stock is down by 0.32% at $186.28 at publication on Thursday.
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Photo: Jeppe Gustafsson via Shutterstock

Reiteration

Garmin's Strong Auto, Outdoor Growth Drives Analyst Rating, Despite Softer Fitness, Marine Sales

Barclays analyst George Wang maintains Garmin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) with a Underweight and lowers the price target from $188 to $152.

Barclays Maintains Underweight on Garmin, Lowers Price Target to $152

Wall Street traded lower on the final session of the month, heading for its third consecutive monthly loss as economic data began reflecting the <a href="https://www.benzinga.com/topic/donald-trump">impact of Trump tariffs.</a>
U.S. GDP shrank by 0.3% in the last quarter, marking the first economic contraction since 2022 and missing forecasts for a 0.4% expansion. The decline was driven by a surge in imports and reduced government spending.
Labor market data also disappointed. The ADP National Employment Report showed private employers added just 62,000 jobs in April—the weakest gain in nine months and well below the expected 108,000.
By midday in New York, the S&amp;P 500 was down 1% to 5,500, on pace to end a six-day winning streak. Tech stocks in the Nasdaq 100 lagged ahead of earnings from industry titans Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) and Meta Platforms Inc.
Nine of the S&amp;P 500's eleven sectors were in the red, with only consumer staples and health care posting modest gains. Energy and consumer discretionary led the losses, falling 3.3% and 2.7%, respectively.
Commodities were broadly lower. Oil tumbled 3.7% to $58 a barrel, approaching its lowest close since March 2021. Copper—often seen as a gauge of global growth—plunged 5.2% to $4.60 per pound. Natural gas declined 2.5% to $3.17 per million British thermal units.
Bond markets were steady, with the 10-year Treasury yield hovering at 4.17%. Gold dipped 0.3% to $3,330 per ounce, while the U.S. dollar index (DXY) strengthened by the same margin.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) showed resilience, holding steady at around $93,000 despite broader market weakness.
<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>Chg %</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,325.88</td>
<td>-0.5%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,515.27</td>
<td>-0.8%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,330.85</td>
<td>-1.1%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1,953.01</td>
<td>-1.2%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated by 1:20 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.9% to $549.56.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) eased 0.5% to $403.24.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;eased 1% to $470.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 1.1% to $193.82.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
Stocks reacting to earnings reports included:
<ul>
<li>Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>): down 0.0%</li>
<li>Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>): down 0.1%</li>
<li>Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>): down 1.5%</li>
<li>Illinois Tool Works Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITW#NYSE">ITW</a>): down 2.4%</li>
<li>Automatic Data Processing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADP#NASDAQ">ADP</a>): up 1.2%</li>
<li>Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>): down 1.3%</li>
<li>Trane Technologies plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TT#NYSE">TT</a>): up 7.6%</li>
<li>Martin Marietta Materials, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLM#NYSE">MLM</a>): up 2.9%</li>
<li>Vulcan Materials Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VMC#NYSE">VMC</a>): up 6.3%</li>
<li>Mondelez International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>): up 4.4%</li>
<li>PPG Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPG#NYSE">PPG</a>): up 4.0%</li>
<li>GE HealthCare Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>): up 3.8%</li>
<li>Arch Capital Group Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACGL#NASDAQ">ACGL</a>): down 3.1%</li>
<li>Fair Isaac Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FICO#NYSE">FICO</a>): down 0.6%</li>
<li>Starbucks Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>): down 7.0%</li>
<li>Yum! Brands Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>): up 0.7%</li>
<li>Costar Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSGP#NASDAQ">CSGP</a>): down 9.7%</li>
<li>Veralto Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLTO#NYSE">VLTO</a>): up 2.1%</li>
<li>Seagate Technology Holdings Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>): up 8.8%</li>
<li>Western Digital Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>): up 6.4%</li>
<li>Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>): down 9.2%</li>
<li>Generac Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNRC#NYSE">GNRC</a>): up 0.0%</li>
<li>First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>): down 9.5%</li>
<li>Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>): down 15.7%</li>
<li>Edison International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EIX#NYSE">EIX</a>): down 9.1%</li>
<li>American Electric Power Company Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEP#NASDAQ">AEP</a>): down 0.9%</li>
<li>Public Service Enterprise Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEG#NYSE">PEG</a>): down 2.3%</li>
<li>PPL Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPL#NYSE">PPL</a>): down 0.1%</li>
<li>Oneok Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>): down 7.5%</li>
<li>Hess Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>): down 3.2%</li>
<li>International Paper Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IP#NYSE">IP</a>): down 5.3%</li>
<li>Stanley Black &amp; Decker Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SWK#NYSE">SWK</a>): down 4.2%</li>
<li>Essex Property Trust, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>): up 0.1%</li>
<li>Equity Residential Properties Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQR#NYSE">EQR</a>): up 0.2%</li>
<li>Regency Centers Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REG#NASDAQ">REG</a>): down 0.8%</li>
<li>Extra Space Storage Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXR#NYSE">EXR</a>): up 3.1%</li>
<li>BXP Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BXP#NYSE">BXP</a>): down 3.7%</li>
<li>Caesars Entertainment Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>): down 3.9%</li>
<li>Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>): down 8.9%</li>
<li>Amcor Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMCR#NYSE">AMCR</a>): down 1.2%</li>
<li>Expand Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXE#NYSE">EXE</a>): down 3.5%</li>
</ul>
Stocks slated to report earnings after the bell include The Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Host Hotels &amp; Resorts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HST#NASDAQ">HST</a>), MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), Everest Group Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EG#NYSE">EG</a>), Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>), eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), ANSYS Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANSS#NASDAQ">ANSS</a>), Public Storage (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSA#NYSE">PSA</a>), Globe Life Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GL#NYSE">GL</a>), PTC Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTC#NASDAQ">PTC</a>), Cognizant Technology Solutions Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTSH#NASDAQ">CTSH</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), UDR Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UDR#NYSE">UDR</a>), American Water Works Company Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AWK#NYSE">AWK</a>), Invitation Homes Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INVH#NYSE">INVH</a>), VICI Properties Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VICI#NYSE">VICI</a>), AvalonBay Communities Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVB#NYSE">AVB</a>), Prudential Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRU#NYSE">PRU</a>), Crown Castle Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCI#NYSE">CCI</a>), Align Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALGN#NASDAQ">ALGN</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Equinix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EQIX#NASDAQ">EQIX</a>), Aflac Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AFL#NYSE">AFL</a>), Ventas Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTR#NYSE">VTR</a>), Albemarle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), Mid-America Apartment Communities Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAA#NYSE">MAA</a>), MetLife Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>), C.H. Robinson Worldwide Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>), and KLA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>).
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Wall Street Falls On Weak Economic Data As Oil Slumps To $58: What's Driving Markets Wednesday

Garmin Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>)&nbsp;stock declined on Wednesday after it reported <a target="_blank" href="https://www.benzinga.com/pressreleases/25/04/n45095626/garmin-announces-first-quarter-2025-results" rel="noreferrer noopener">first-quarter 2025</a> results.
The company reported quarterly revenue growth of 11% year-on-year to $1.54 billion, beating the&nbsp;analyst consensus estimate of $1.50 billion.&nbsp;
The GPS navigation and wearable technology company's adjusted EPS of $1.61 missed the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus estimate</a> of $1.67.&nbsp;
Segments: Revenue from Fitness grew by 12%&nbsp;year over year&nbsp;to $384.72 million, led by growth in advanced wearables. Outdoor revenue increased by 20%&nbsp;year over year&nbsp;to $438.5 million, primarily due to growth in adventure watches.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/04/44876406/retail-slowdown-and-tariff-turbulence-hit-leisure-stocks-says-analyst" rel="noreferrer noopener">Retail Slowdown, Tariffs Jolt Leisure Stocks: Analyst Revises Estimates For Topgolf, Harley-Davidson And More</a>
Aviation revenue rose 3% year over year&nbsp;at $223.11 million,&nbsp;driven by the OEM product categories. Marine revenue decreased by 2%&nbsp;year over year&nbsp;to $319.44 million due to the timing of promotions that affected revenue across several product categories in the quarter. Auto OEM&nbsp;grew 31% year over year&nbsp;to $169.33 million, primarily driven by growth in domain controllers.
The gross margin decreased to 57.6%, down from 58.1% year over year. The&nbsp;operating margin was 21.7% compared to 21.6% a year ago.
Garmin generated $380.73 million in free cash flow for the quarter, compared to $402.14 million a year ago.&nbsp;As of March 29, 2025, it&nbsp;held $3.9 billion in cash and equivalents.
FY25 Outlook: Garmin&nbsp;now expects revenue of $6.85 billion (<a target="_blank" href="https://www.benzinga.com/25/02/43812509/garmin-q4-earnings-wearables-and-adventure-watches-drive-growth-raises-dividend-20-projects-68-billion-revenue-for-2025" rel="noreferrer noopener">up from prior</a> $6.80 billion) versus the&nbsp;analyst consensus estimate of $6.83 billion. It&nbsp;reiterated an adjusted EPS&nbsp;outlook of $7.80&nbsp;against the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">analyst consensus estimate of $7.92</a>.&nbsp;
In its forward outlook, the company said, &#8220;The forward-looking financial measures in our 2025&nbsp;guidance include certain economic assumptions such as foreign currency exchange rates and tariffs which are fluid and can rapidly change favorably or unfavorably.&#8221;
Price Action: GRMN stock is down 7.39% at $189.02 at the last check on Wednesday.
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Earnings

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Garmin Lifts Sales Outlook, But Tightening Margin Sends Stock Sliding

Wall Street is set for a volatile Wednesday after first-quarter GDP data showed an unexpected economic contraction, stoking fears that a recession <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/45098824/tariffs-hit-hard-as-us-economy-shrinks-for-first-time-since-2022">may already be underway. </a>
The U.S. economy shrank by 0.3% on an annualized basis last quarter, down from 2.4% growth in the previous quarter and well below the expected 0.4% growth, official advance statistics showed.
The outcome marked the first quarterly contraction since the second quarter of 2022. 
In addition, U.S. private employers added 62,000 jobs in April, according to ADP National Employment Report, the lowest since July 2024 and well below predictions of 108,000. 
Broad-based equity losses followed during premarket trading in New York as investors digested signs of weakening growth, elevated inflation, and deteriorating trade balances.
Futures on the S&amp;P 500 fell 1.28% to 5,489.61 by 9:00 a.m. ET, shedding 71 points. 
Contracts on the Dow Jones Industrial Average declined by 336 points, or 0.8%, to 40,191. The tech-heavy Nasdaq 100 underperformed, plunging 1.9% to 19,184, while the small-cap Russell 2000 index dropped 1.7% to 1,944.
Recession odds for 2025 climbed to 74%, their highest level yet, according to data from CFTC-regulated betting platform Kalshi. Under Kalshi&#8217;s terms, a $100 bet on a recession now yields $131 if the U.S. sees two consecutive quarters of negative GDP growth.
<iframe loading="lazy" src="https://kalshi.com/external-widgets/events/RECSSNBER-25/markets/RECSSNBER-25?color_scheme=light&#038;widget_size=medium&#038;variant=a&#038;utm_campaign=benzinga_widget" width="488px" height="242px" style="border:0"></iframe>
<h3 class="wp-block-heading">Economists Divided On US Economic Performance</h3>
David Russell, global head of market strategy at TradeStation, noted the growing stagflation risk: "Today's data shows more stagflation, with the economy shrinking and prices rising more than expected. Trade was a huge drag as imports jumped ahead of tariffs. Combined with the weak ADP payrolls growth and yesterday's weak JOLTs data, the numbers increasingly suggest a recession may have begun."
Economist Joseph Brusuelas of RSM US LLP offered a more tempered view: "The trade shock caused a large change in behavior that resulted in that large drag due to a larger trade deficit. However, the economy did not slide into recession in Q1 2025." 
He expects a recession more likely by midyear, citing a $140 billion inventory swing that temporarily padded GDP by 2.25 percentage points.
Robin Brooks, a senior fellow at the Brookings Institution, echoed concerns about the unusual nature of the trade dynamics, calling the current environment "a huge natural experiment," with ballooning imports and swelling inventories reflecting a widespread effort to front-run tariffs.
<h3 class="wp-block-heading">Trump Responds: &#8216;This Is Biden&#8217;s Stock Market, Not Trump&#8217;s&#8217;</h3>
"This is Biden's Stock Market, not Trump's. I didn't take over until January 20th," Trump wrote on social media X, shortly after the GDP release.
Trump denied that his trade policies were responsible for the weak GDP figures, attributing the slowdown to the economic legacy of President Joe Biden. 
"This will take a while, has nothing to do with tariffs, only that he left us with bad numbers," Trump posted. 
"But when the boom begins, it will be like no other. Be patient!!!"
<h3 class="wp-block-heading">Top Premarket Gainers In The S&amp;P 500</h3>
<ul>
<li>Western Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>) up 7.5% to $43.7</li>
<li>Trane Technologies plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TT#NYSE">TT</a>) up 6.3% to $375.6</li>
<li>Seagate Technology Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>) up 5.9% to $86.4</li>
<li>Live Nation Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>) up 5.6% to $139.7</li>
<li>Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>) up 5.5% to $273.5</li>
</ul>
<h3 class="wp-block-heading">Top Premarket Decliners In The S&amp;P 500</h3>
<ul>
<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) down 19.3% to $29.1</li>
<li>First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) down 12.8% to $119.6</li>
<li>Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) down 10.0% to $76.4</li>
<li>Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) down 8.4% to $15.9</li>
<li>Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) down 8.1% to $187.5</li>
</ul>
By 8:52 a.m. ET, according to <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data, the stocks falling most over the past 30 minutes of premarket trading included:
<ul>
<li>AppLovin Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) down 6.2% to $242.0</li>
<li>Apollo Global Management Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) down 3.6% to $133.1</li>
<li>Atlassian Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>) down 3.5% to $220.8</li>
<li>Shopify Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) down 3.3% to $95.0</li>
<li>KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) down 3.0% to $111.0</li>
<li>Eaton Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETN#NYSE">ETN</a>) down 2.5% to $283.1</li>
<li>Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) down 2.4% to $111.4</li>
<li>Southern Copper Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>) down 2.2% to $87.5</li>
<li>Freeport-McMoRan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) down 2.1% to $34.5</li>
<li>Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>) down 2.1% to $312.0</li>
</ul>
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</ul>
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Recession Odds Spike, Wall Street Tumbles As Q1 GDP Surprisingly Contracts: 'Be Patient,' Trump Responds

U.S. stock futures were mixed this morning, with the Dow futures gaining around 0.1% on Wednesday.
Shares of Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) fell sharply in today's pre-market trading as the company reported weaker-than-expected <a href="https://www.benzinga.com/25/04/45090652/starbucks-says-simple-everyday-luxury-is-here-to-stay-as-people-still-want-small-indulgences-amid-belt-tightening">second-quarter financial results</a>.
The coffee giant reported second-quarter adjusted earnings of 41 cents per share, missing analyst estimates of 50 cents per share.
Starbucks shares dipped 6.5% to $79.33 in the pre-market trading session.
Here are some other stocks moving lower in pre-market trading.
<ul>
<li>InnovAge Holding Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INNV#NASDAQ">INNV</a>) shares dipped 17.4% to $2.52 in pre-market trading. InnovAge will announce fiscal third quarter 2025 financial results and host conference call Tuesday, May 6.</li>
<li>Tenable Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TENB#NASDAQ">TENB</a>) shares fell 17% to $27.95 in pre-market trading after the company cut its FY25 sales guidance.</li>
<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) declined 15.1% to $30.57 in pre-market trading after the company lowered its preliminary guidance.</li>
<li>Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) dipped 13.5% to $7.87 in pre-market trading as the company reported first-quarter financial results and announced it will not provide second-quarter guidance.</li>
<li>Wabash National Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WNC#NYSE">WNC</a>) fell 13.3% to $8.64 in pre-market trading following weaker-than-expected quarterly results.</li>
<li>First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) dipped 13.1% to $119.25 in pre-market trading after the company reported worse-than-expected first-quarter EPS results and cut its FY25 guidance.</li>
<li>Unum Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNM#NYSE">UNM</a>) tumbled 9.1% to $72.00 in pre-market trading after the company reported worse-than-expected first-quarter financial results.</li>
<li>Vicor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VICR#NASDAQ">VICR</a>) fell 7.3% to $48.12 in pre-market trading after the company reported worse-than-expected first-quarter financial results.</li>
<li>Garmin Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NASDAQ">GRMN</a>) declined 5.4% to $193.00 in pre-market trading after posting weak earnings.</li>
<li>Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>) fell 5.3% to $12.99 in pre-market trading following downbeat first-quarter results.</li>
</ul>
Now Read This: 
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<li><a href="https://www.benzinga.com/25/04/45064976/top-3-industrials-stocks-which-could-rescue-your-portfolio-in-q2">Top 3 Industrials Stocks Which Could Rescue Your Portfolio In Q2</a> </li>
</ul>
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Pre-Market Outlook

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VICR

Starbucks Posts Weak Earnings, Joins Super Micro Computer, Snap And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session

Press Releases

Garmin debuts the GPSMAP 15x3 chartplotter with a 15" ultrawide premium display

Meet Edge MTB, Garmin's first-ever bike computer made for mountain bikers

Rest easy with the Index Sleep Monitor smart sleep band from Garmin

Entertainment

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Garmin unveils flagship Apollo RA800 marine stereo

Bring your cycling climbs inside with the Tacx Alpine from Garmin

Garmin brings FAA Data Comm to market through GTN 750Xi series certification

Meet quatix 8: the most advanced purpose-built smartwatch for mariners from Garmin

Garmin Ltd. schedules second quarter 2025 earnings call

Garmin launches the Force Current kayak trolling motor with unrivaled maneuverability

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