Yesterday, I said "Grab Garmin." Let me put it out here again:
Garmin (GRMN 85.60) is down 40 points from it's high, as the market is all worked up that GRMN will make a counter-offer higher than TomTom's bid for Tele Atlas. Rational? Not! At 2:30 a.m. this morning, Garmin and TomTom reached a global settlement on all their intellectual property litigation, and this morning, Piper came out with a call saying they felt that Nokia's deal with Navteq would now close. Which means that GRMN has reached a behind the scenes deal on maps without busting their bank.
What happened today? They announced a deal with Navteq until 2015 on maps!