Boston, MA, 02/20/2014 – Garmin Ltd. (NASDAQ:GRMN), the maker of the personal navigation devices, is turning around as it said that the activity trackers and video cameras are going to change its future. The Swiss company posted its fourth-quarterly results yesterday, surpassing the Wall Street estimates and steering its shares to a five-year high. In addition, the company’s board also plans to announce annual dividend at the rate of $1.92 per share, over the previous dividend of $1.80 per share. The company reported the earnings per share of 76 cents abover the market consensus of 60 cents. Its revenue for the quarter too beat the expectation of $708.3 million, as it came at $759.7 million, dipping 1.2% from the earlier reported revenue of $768.5 million. Garmin Ltd. (NASDAQ:GRMN)’s Virb, waterproof action video camera and Vivofit, the fitness monitor, helped to boost its revenues during the fourth quarter.
Host Hotels and Resorts Inc (NYSE:HST), the real estate investment trust, revealed its fourth quarter performance on Wednesday. It exceeded both the EPS and revenue forecasts as its EPS came in at $0.33 per share against the estimate of $0.31 and revenue at $1.31 billion, higher by $10 million of the expectation. For the year 2014, Host Hotels has come forward with adjested EPS in the range of $1.40-$1.44 per share, which is in line with the market consensus of $1.43 per share. The board of directors of Host Hotels and Resorts Inc (NYSE:HST) have authorized the payment of quarterly cash dividend at the rate of $0.14 per share, which is higher by 7.7% over its previous dividend payout
Fifth Third Bancorp (NASDAQ:FITB) faces a proposed class action in Florida Federal court for reporting inaccurate and false information to credit rating agencies. As per the complaint, the plaintiffs have accussed the bank for violating the duty of safeguarding personal information after the bank mistakenly reported bankruptcy information of its clients to the credit rating agencies. Fifth Third Bancorp (NASDAQ:FITB) has declined to comment on the developments.