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Updated from 11:24 a.m. EDT
Shares of Garmin (GRMN Quote) rebounded from their session lows Thursday after the company clarified earlier remarks from its chief financial officer regarding its first-quarter targets.
Reuters had reported that Garmin CFO Kevin Rauckman said first-quarter revenue for the navigational-device maker is expected to drop between 40% and 50% from the fiscal fourth quarter.
Shares of Garmin, having fallen as much as 11% on the report, pared those losses after a company spokeswoman said the report may have misconstrued the CFO's remarks. Garmin was lately down 2.6% to $54.94 on heavy volume. ...
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