I think tech stocks are going to crash a few percent... the run up on RIMM was ridiculous and there's gonna be a sell off and profit taking on stocks like amazon, rimm, apple, etc... so keep and eye out and when garmin drops we're money bro... Also all the news networks showing california fires can't be good
Yeah Baby... already am...bought in @ $106, 1100 shares! FINISHED GREEN TODAY ON A RED DAY! SOMEBODY KNOWS SOMETHING WE DON'T???!!!
Man I got screwed today... I called the bottom at 117 and I tried to go in for 300 shares but my internet connection lagged and by the time I could see the price again it was 118.70 and it never went back down!
TomTom reports 36 pct. rise in 3Q profit By TOBY STERLING More from BusinessWeek * Merrill's O'Neal Takes the Hit * Microsoft Nets Piece of Facebook * Has the Mortgage Crisis Finally Peaked? * Free Dailies King Besieged * Buffett Warns on China Stocks Story Tools * order a reprint * digg this * save to del.icio.us AMSTERDAM, Netherlands Strong growth in the market for navigation devices helped TomTom NV report a 36 percent rise in third-quarter profits and higher sales on Wednesday. TomTom, which is in the process of buying digital mapping company Tele Atlas NV for euro1.8 billion (US$2.5 billion), said net profit came to euro99 million (US$141 million), up from euro73 million in the same period a year earlier. Sales rose 21 percent to euro427 million (US$609 million). Chief Executive Harold Goddijn predicted the company "will be able to defend its market position in Europe and to grow market share in the United States." Shares jumped 8.9 percent to euro61.85 (US$82.22) in Amsterdam as the company's gross margins rose because of cost savings despite a small decline in average selling prices. Margins in the consumer electronics industry often shrink amid increased competition, something analysts fear may happen to TomTom. The company, though, Europe's largest maker of navigation devices, argues that its products are a mix of software, hardware, display and communications technology that makes it difficult for rivals to enter the market. TomTom competes primarily with Cayman Islands-based Garmin Ltd., which is bigger in the United States and overall. Analysts saw its July offer to buy Tele Atlas as a way for TomTom to gain full freedom to integrate that company's maps into its product design. TomTom said it hoped to receive approval from European authorities for the intended acquisition before its offer expires Dec. 4, but it would extend the tender period if necessary. That deal led a drive toward consolidation in the industry, as Nokia Corp. announced this month that it would spend US$8.1 billion (euro5.7 billion) to buy Navteq Corp. -- Tele Atlas's larger rival in what is essentially a duopoly for global digital maps. After Nokia's announcement, Garmin's shares fell sharply on fears it would lose its access to Navteq's maps, and TomTom's shares declined on fears it might be outbid for Tele Atlas by one of many large companies that might have an interest in digital mapmaking, including Google Inc. Both worries have since receded: Navteq and Tele Atlas insist they will continue to sell their maps to all comers, and no rival bids for Tele Atlas have emerged. However, Tele Atlas shares have still been trading around 7 percent above TomTom's offer price -- suggesting many investors think one way or another, the deal may be sweetened. If Tomtom is making 33% I consider Garmin to be superior... they must be blowing estimates out of the water...
i am caution on grmn... there is lot of competition out there... and nokia bought NVT so they will be shipping PHONE with GPS... i guess even if they beat market will sell GRMN.