Garmin, Chico’s, Dell, Dollar Tree Among High Demand Stocks Feb 22nd

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Garmin Ltd. (NASDAQ:GRMN): The Board intends to recommend to the shareholders for approval at the annual meeting to be held on June 1, 2012 a cash dividend in the amount of $1.80 per share (subject to possible adjustment based on the total amount of the dividend in Swiss Francs as approved at the annual meeting) payable in four installments. In its latest earnings conference call, Garmin sees FY12 revenue $2.7B-$2.8B vs. consensus $2.55B. Sees FY12 gross margin 49%-50%, operating margin 19%-20%. Sees FY12 effective tax rate 13%. Shares of Garmin Ltd. are trading 10.32% higher today.

Chico’s FAS, Inc. (NYSE:CHS): Says will focus on smaller market opportunities in building out its outlet network. Comments made on the Q4 earnings conference call. Shares of Chico’s FAS, Inc. are trading 12.8% higher today.

Dell Inc. (NASDAQ:DELL): As Intel (NASDAQ:INTC) readies Ivy Bridge processors for second-generation ultrabooks, which will require the read/write speeds attained by SSDs or hybrid hard disk drives, most vendors will likely select hybrid HDDs to keep costs down, according to DigiTimes, citing supply chain sources. Dell Inc ended Q4 with $18.2B in cash and investments. Shares of Dell Inc. are trading 5.57% lower today.

Dollar Tree, Inc. (NASDAQ:DLTR): Says will grow Canadian store base approx. 25% under the Dollar Tree Brand, and can eventually support up to 1,000 Dollar Tree stores in addition to 7,000 Dollar Tree store potential in the U.S. Shares of Dollar Tree, Inc. are trading 2.94% lower today.

Sourcefire, Inc. (NASDAQ:FIRE): Sees Q1 revenue $40M-$42M, consensus $38.3M. Shares of Sourcefire, Inc. are trading 21.2% higher today.

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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