Thursday, November 15, 2007

Grab Garmin!

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. At least that will be the Wall Street spin.

So GRMN, ramps from here.


Anonymous said...

If the economy is losing steam, why shouldn't Garmin revert to the June price of the mid 50's? The product Garmin makes is not a necessity and is now found built into cell phones. Why wouldn't Garmin's prospective customers prefer the convenience of GPS in their cell phones vs Garmin's stand alone product?

Palmoni said...

Look at the stock today. It's up 14 points. They did a deal with Navteq until 2015.

That's what makes a market!