Garmin (GRMN) is on a rare sale on the stock market. The stock dropped by 5.13% after an analyst downgraded the stock.
Barclays (BCS) cited sluggish consumer spending on hardware and stock overvaluation for downgrading GRMN stock. The opinion change is unreasonable. Garmin offers a superior sports and fitness watch compared to Alphabet’s (GOOG) Fitbit. Consumers also prefer a Garmin watch over cheap Chinese-made alternatives sold on Amazon (AMZN).
Adobe Systems (ADBE) dropped by 8.47% on Friday after revising its growth outlook following its Q3 report. The stock might rebound as Broadcom (AVGO) did after its earnings results. However, OpenAI’s Sora is a headline risk. AI models may create incredible images. They may also create videos with simple text instructions.
The existential risk may weigh on Adobe’s subscription revenue growth.
The worker strike at Boeing (BA) is happening at a questionable time. Workers rejected the company’s labor contract offer. Around 33,000 members of the International Association of Machinists and Aerospace Workers voted 96% in favor of striking.
Boeing risks ending up like Yellow, which filed for bankruptcy. The aerospace firm has airplane quality issues. Airlines may stop buying Boeing’s products. The firm should consider shutting down its money-losing units. In addition, it may need to hire more engineers and quality assurance staff while cutting accounting and middle-management workers.
