Citigroup analyst Jeremy David downgraded Garmin two notches to Sell from Buy saying competitive pressures are likely to stall the growth of the company's GPS fitness watch business. He also thinks revenue trends in Garmin's Outdoor segment could disappoint as the year progresses. David expects Garmin to miss consensus earnings and revenue expectations in Q1 and views the Apple (AAPL) Watch launch as another potential negative catalyst for shares. He cut his price target for the stock to $42 from $68. Shares of the navigation and information device maker closed Thursday down 58c to $46.49 after Goldman Sachs downgraded the stock Neutral from Buy.

Apple saw sales of its iPhones fall 19.1% in the first three months of the year, CNBC's Ryan Browne reports, citing data from Counterpoint Research. Meanwhile, Huawei saw a 69.7% surge in smartphone sales in the country during the same period, Counterpoint said. Reference Link