24/7 Wall St. » GRMN

Garmin’s Earnings Surprise: Strength in PND Segment (GRMN, TRMB)

Administrator — Wed, 02 May 2012 13:36:59 +0000

Garmin Ltd. (NASDAQ: GRMN) was a business that many expected was going to crash and burn. The world of free or nearly free personal navigation services from smartphones was just going to be too much of a threat for Garmin’s core market in those personal navigation devices you saw on so many dashboards. What the short sellers missed was that Garmin had some other tricks up its sleeve.

This morning came news that Garmin’s revenue was $556.6 million versus a consensus from Thomson Reuters of only $520.2 million. The company owes its gains to the outdoor and fitness products. Some of the demand is being driven by watches with GPS sensors, golf devices with preloaded courses, and other fitness and lifestyle device applications.

The outdoor and fitness sales were up 20% to $148 million, while the automotive/mobile unit sales rose by 6% to $280 million due to higher unit sales even though the company has cautioned about weaker PND sales. Garmin expects PND revenue to fall and unit deliveries to decline, but this surprising gain shows that the company may not be as down and out as those short sellers were hoping.

Garmin’s news is enough for a gain of 4% to $49.75 against a 52-week range of $29.23 to $49.93 (high hit today). Garmin’s short interest was most recently put at 11.03 million shares, but that is only half of the short interest from as recently as last September.

So far we are not seeing the same reaction out of Trimble Navigation Limited (NASDAQ: TRMB) as its shares are down 1.2% at $53.27 against a 52-week range of $31.88 to $55,95.

JON C. OGG

Filed under: Consumer Electronics, Consumer Goods, Earnings, WiMAX, Wireless Tagged: GRMN, TRMB

The Top Earnings Previews For The Week Ahead (NYX, ACI, ADM, BRCM, CHK, SIRI, VLO, AWK, NLY, CMCSA, FSLR, GRMN, HIG, MA, SYMC, V, WFM)

Administrator — Fri, 27 Apr 2012 16:01:24 +0000

Earnings season is in full swing and the coming week is going to be extremely active with big earnings reports. 24/7 Wall St. has tried to preview several top earnings for the week ahead.

NYSE Euronext, Inc. (NYSE: NYX) is on Monday and the following earnings reports are due on Tuesday: Arch Coal Inc. (NYSE: ACI); Archer Daniels Midland Co. (NYSE: ADM); Broadcom Corporation (NASDAQ: BRCM); Chesapeake Energy Corporation (NYSE: CHK); Sirius XM Radio Inc. (NASDAQ: SIRI); Valero Energy Corporation (NYSE: VLO).

Wednesday’s top earnings reports on deck are as follows: American Water Works Co. (NYSE: AWK); Annaly Capital Management Inc. (NYSE: NLY); Comcast Corporation (NASDAQ: CMCSA); First Solar Inc. (NASDAQ: FSLR); Garmin Ltd. (NASDAQ: GRMN); Hartford Financial Services Group Inc. (NYSE: HIG); MasterCard Inc. (NYSE: MA); Symantec Corporation (NASDAQ: SYMC); Visa Inc. (NYSE: V); and Whole Foods Market Inc. (NASDAQ: WFM).

We will provide previews for the larger report due on Thursday as the reports get closer. As a reminder, some of the dates and estimates may change and some of them may have already changed. Consensus estimates are from Thomson Reuters and we have provided color on each if applicable.

NYSE Euronext (NYSE: NYX) reports on Monday. The consensus estimates are $0.48 EPS and $611.1 million in revenues. Shares are around $27.00, and the consensus analyst price target is $32.30. Now that the German merger (the German takeover of America’s top exchange) is off the table, investors are focusing on the values here.

TUESDAY, May 1

Arch Coal Inc. (NYSE: ACI) is due Tuesday morning and its shares have been battered along with the entire coal sector. Estimates are $0.16 EPS and $1.12 billion in revenues. Shares are around $9.50, and the consensus analyst price target is $32.30.

Archer Daniels Midland Co. (NYSE: ADM) is due Tuesday morning and estimates are $0.59 EPS and $21.4 billion in revenues. Shares are around $31.00, and the consensus analyst price target is almost $34.00.

Broadcom Corporation (NASDAQ: BRCM) reports after the close on Tuesday and it has been riding the Apple wave. The consensus estimates are $0.55 EPS and $1.8 billion in revenues. Shares are around $36.30 and the consensus analyst price target is $42.40.

Filed under: Calendar, Earnings, The Week Tagged: ACI, ADM, AWK, BRCM, CHK, CMCSA, FSLR, GRMN, HIG, MA, NLY, NYX, SIRI, SYMC, V, VLO, WFM

24/7 Wall St. Closing Bell (AAPL, DELL, MOS, GILD, DNDN, BAS, CYH, LOPE, RRC, CETV, CHS, DLTR, GRMN, NG, RRD, TOL, HSTM, FIRE, THLD, NFX, CELL)

Paul Ausick — Wed, 22 Feb 2012 21:07:33 +0000

US equities markets opened lower this morning following surprisingly weak manufacturing reports from Europe and China. Fitch Ratings’ downgrade of Greek debt to ‘CCC’ could not have been a surprise, but the move highlighted the doubts about whether or not Greece will be able to meet its new obligations. The new home sales report was weaker than expected (see our coverage here) and rising crude oil costs also kept markets on the downside. Indexes remained in negative territory for most of the day and are set to close with modest losses. Crude oil was higher today, with WTI crude up 0.02% at $106.27/barrel and Brent crude up 1.23% at $123.16/barrel. Gold settled up 0.7% at $1,771.30, a three-month high.

The unofficial closing bells put the DJIA down almost 27 points to 12,938.75 (-0.21%), the NASDAQ fell more than 15 points (-0.52%) to 2,933.17, and the S&P 500 fell -0.33% or nearly 5 points to 1,357.66.

There were several analyst upgrades and downgrades today, including Apple Inc. (NASDAQ: AAPL) reiterated as ‘outperform’ and target price lifted to $600 at Credit Suisse; Dell Inc. (NASDAQ: DELL) cut to ‘neutral’ at Citigroup and cut to ‘hold’ at Needham; The Mosaic Co. (NYSE: MOS) raised to ‘buy’ at Canaccord Genuity; Gilead Sciences Inc. (NASDAQ: GILD) cut to ‘market perform’ at Bernstein; and Dendreon Corp. (NASDAQ: DNDN) started as ‘neutral’ at Citigroup.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Basic Energy Services Inc. (NYSE: BAS) is up 0.15% at $19.90; Community Health Systems Inc. (NYSE: CYH) is up 14.3% at $23.61; Grand Canyon Education Inc. (NASDAQ: LOPE) is down -0.95% at $17.67; Range Resources Inc. (NYSE: RRC) is up 3.4% at $66.47; Central European Media Enterprises Ltd. (NASDAQ: CETV) is down -18.5% at $6.93; Chico’s FAS Inc. (NYSE: CHS) is up 16.9% at $14.97; Dollar Tree Inc. (NASDAQ: DLTR) is down -0.76% at $87.34; Garmin Ltd. (NASDAQ: GRMN) is up 9.2% at $48.81 after posting a new 52-week high of $49.93 (more coverage here); Novagold Resources Inc. (AMEX: NG) is flat at $8.75; R.R. Donnelley & Sons Co. (NYSE: RRD) is down -1.8% at $13.00; and Toll Brothers Inc. (NYSE: TOL) is down -4.8% at $22.56 (more coverage here).

Other standouts from today include the following stocks:

HealthStream Inc. (NASDAQ: HSTM) is up nearly 34% at $23.18 after posting a new all-time high of $23.19 earlier today. The Internet-based health learning company beat both EPS and revenue expectations in its most recent quarter.

Sourcefire Inc. (NASDAQ: FIRE) is up nearly 27% at $45.34 after posting a new all-time high of $45.50 earlier today. The Internet security provider handily beat earnings and revenue expectations last night.

Threshold Pharmaceuticals Inc. (NASDAQ: THLD) is up nearly 20% at $6.0. The pharmaceutical maker yesterday announced positive results for its pancreatic cancer treatment.

Newfield Exploration Co. (NYSE: NFX) is down more than -12% at $37.06. The independent oil & gas company missed EPS and revenue estimates last night.

Brightpoint Inc. (NASDAQ: CELL) is down more than -11% at $8.89. The mobile-phone wholesaler has cut its outlook for 2012.

Stay tuned for Thursday. We have noted the following events on the schedule (all times Eastern):

8:30 a.m. – New US claims for unemployment benefits
10:00 a.m. – Federal Housing Finance Agency (FHFA) house price index
10:30 a.m. – EIA weekly natural gas storage report
11:00 a.m. – EIA weekly petroleum status report
11:00 a.m. – Kansas City Fed manufacturing index
1:00 p.m. – 7-year note auction
4:30 p.m. – Federal Reserve balance sheet and money supply

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: AAPL, BAS, CELL, CETV, CHS, CYH, DELL, DLTR, DNDN, FIRE, GILD, GRMN, HSTM, LOPE, MOS, NFX, NG, RRC, RRD, THLD, TOL

Morning Movers (FIRE, FCEL, GRMN, LL, NFX)

Paul Ausick — Wed, 22 Feb 2012 15:17:37 +0000

The three major US equities indexes opened lower this morning as manufacturing data from Europe came in below expectations and the ratings cut to ‘CCC’ on Greek debt by Fitch Ratings has cooled expectations of Greece’s ability to meet its promises. In the first half hour of trading, the DJIA is up about 3 points at around 12,969, the Nasdaq Composite is lower by nearly 4 points at around 2,945, and the S&P 500 is down less than 1 point at around 1,362.

There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include the Sourcefire Inc. (NASDAQ: FIRE), FuelCell Energy Inc. (NASDAQ: FCEL), Garmin Ltd. (NASDAQ: GRMN), Lumber Liquidators Holdings Inc. (NYSE: LL), and Newfield Exploration Co. (NYSE: NFX).

Sourcefire is up more than 19% at $42.70 after posting a new 52-week high of $43.88 earlier. Volume is already about 3x the daily average of about 437,000 shares traded. The Internet security provider handily beat earnings and revenue expectations last night.

FuelCell is up nearly 13% at $1.66. Volume is already nearly double the daily average of 1.2 million shares traded. The fuel cell maker has signed a joint venture deal to develop fuel cells in Europe and could benefit from a decision by Apple Inc. (NASDAQ: AAPL) to build a clean-energy data center in North Carolina.

Garmin is up nearly 9% at $48.65 after posting a new 52-week high of $49.93 earlier. Volume is already about 3x the daily average of around 1 million shares traded. The GPS maker reported better-than-expected earnings and gave guidance above estimates. More coverage here.

Lumber Liquidators is down more than -12% at $18.85. Volume is already nearly equal to the daily average of around 358,000 shares traded. The hardwood floor retailer missed EPS estimates this morning and offered weak guidance.

Newfield is down more than -9% at $38.39. Volume is already equal to the daily average of about 2.2 million shares traded. The independent oil & gas company missed EPS and revenue estimates last night.

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: FCEL, FIRE, GRMN, LL, NFX

Top Earnings Previews For Wednesday (ADI, ANGI, SAM, CHS, CLH, ESRX, FLR, GRMN, HPQ, LTD, PAAS, SINA, TJX, TOL, ZLC)

Administrator — Tue, 21 Feb 2012 18:25:23 +0000

This week is still slated to be busy for earnings reports. We have compiled earnings previews for the following stocks reporting Wednesday: Analog Devices Inc. (NYSE: ADI); Angie’s List Inc. (NASDAQ: ANGI); Boston Beer Co. (NYSE: SAM); Chico’s FAS Inc. (NYSE: CHS); Clean Harbors Inc. (NYSE: CLH); Express Scripts Inc. (NASDAQ: ESRX); Fluor Corp. (NYSE: FLR); Garmin Ltd. (NASDAQ: GRMN); Hewlett-Packard Co. (NYSE: HPQ); Limited Brands Inc. (NYSE: LTD); Pan American Silver Corporation (NASDAQ: PAAS); SINA Corp. (NASDAQ: SINA); TJX Companies, Inc. (NYSE: TJX); Toll Brothers Inc. (NYSE: TOL); and Zale Corporation (NYSE: ZLC).

Included in the previews are some pricing data and color on each preview. Estimates are the consensus targets from Thomson Reuters.

Analog Devices Inc. (NYSE: ADI) is now up 35% from last year’s low and within about 6% of a 52-week high after many of the chip names have had phenomenal 2012 moves. Estimates are $0.48 EPS on $662.3 million in sales.

Angie’s List Inc. (NASDAQ: ANGI) is set to see its first public earnings release. We have always wondered about its lack of earnings as sort of unacceptable, but so far Wall Street has stayed by it. Estimates are -$0.11 EPS on $25.38 million in sales. At $15.20, the post-IPO range is $10.77 to $18.75.

Boston Beer Co. (NYSE: SAM) remains at a premium value on its earnings at 24-times expected 2012 earnings estimates. Estimates are $1.12 EPS and $131.6 million in sales.

Chico’s FAS Inc. (NYSE: CHS) is still trying to get its ship back in order. Estimates are $0.11 EPS and $546.66 million in sales.

Clean Harbors Inc. (NYSE: CLH) has remained highly valued and it has recently split its stock after an incredible share move in recent years. Estimates are $0.48 EPS and $506.04 million in sales. 4Q 0.49

Express Scripts Inc. (NASDAQ: ESRX) is still pending a review by the FTC in its attempt to acquire Medco. Many feel that the deal could be blocked. Earnings estimates are $0.85 EPS on sales of $11.6 billion.

Fluor Corp. (NYSE: FLR) still remains well off of its highs and is still at a premium at 16.5-times expected 2012 earnings for this infrastructure design leader. Estimates are $0.82 EPS and $6.38 billion in sales.

Garmin Ltd. (NASDAQ: GRMN) is expected to report $0.66 EPS on $769.9 million in sales. The turnaround continues here as it continues to move away from being dependent upon Garmin sales for in-car navigation.

Hewlett-Packard Co. (NYSE: HPQ) is still just getting a plan underway for its Meg Whitman-lead turnaround. Estimates are $0.87 EPS on $30.7 billion in sales.

Limited Brands Inc. (NYSE: LTD) is expected to post $1.46 EPS and $3.47 billion in sales.

Pan American Silver Corporation (NASDAQ: PAAS) is expected to report earnings of $0.51 EPS on $229.59 million in revenues. We will be looking for its cost per ounce of production in silver.

SINA Corp. (NASDAQ: SINA) is expected to report $0.21 EPS on $129.34 million in sales. This stock remains down by more than half from last-year’s highs.

TJX Companies, Inc. (NYSE: TJX) remains at a premium valuation and shares hit a new all-time high on Tuesday. Estimates are $0.62 EPS on $6.72 billion in sales.

Toll Brothers Inc. (NYSE: TOL) is expected to report $0.02 EPS on $360.8 million in sales. Home builders are profitable again, often from ‘other’ activities. Shares just hit a new 52-week high on Tuesday.

Zale Corporation (NYSE: ZLC) is expected to post its “money quarter” that includes the holiday sales. Estimates are $0.77 EPS on $657.38 million in revenue. Keep in mind that this company is still expected to lose money for its full year ending in July.

JON C. OGG

Filed under: 24/7 Wall St. Wire, Calendar, Earnings Tagged: ADI, ANGI, CHS, CLH, ESRX, FLR, GRMN, HPQ, LTD, PAAS, SAM, SINA, TJX, TOL, ZLC

Huge 52-Week High Surprise: Garmin (GRMN, GOOG, AAPL, TRMB)

Administrator — Wed, 21 Dec 2011 20:23:32 +0000

If you took the developments of the last couple of years with the explosion of smartphones, Garmin Ltd. (NASDAQ: GRMN) might have been easy to consider road kill. Yet here we are at the end of 2011 and Garmin shares have hit a new 52-week high. This almost seems to good to be true. The company has declining sales and its ability to grow sales overall into late-2012 and beyond remains a question for many investors.

Google Inc. (NASDAQ: GOOG) and Apple Inc. (NASDAQ: AAPL) along with their mapping and navigation services for free or nearly free took away the need for many of those in-car dashboard devices for drivers who practically live in their cars and trucks. Trimble Navigation Limited (NASDAQ: TRMB) is not anywhere close to its 52-week high today.

As far as what is driving Garmin, maybe it is the personal navigation devices used for exercise and hiking, as well as the marine and aviation products. Unless rental car companies have decided to make the devices mandatory in all rentals, then it seems likely that there is not a sudden resurgence of device sales. Then there is the NTSB recommendation to get rid of electronic device use in cars, but Garmin is looking to get more in-dashboard auto sales ahead.

Perhaps investors have noticed that the 18 million shares in the most recent short interest data was the lowest that it had been for a year. Or maybe it is a dividend yield north of 4%. Maybe the excitement was a Garmin CFO interview on CNBC that is giving investors more comfort. In the middle of December, J.P. Morgan counted Garmin as a stock which should be absolutely avoided. Then there is the issue of LightSquared’s wireless network interference with most GPS devices.

The Garmin CFO and Treasurer interview can be seen here. Garmin shares are up at $39.40 after hitting a daily high of $39.53, and the prior 52-week trading range was $29.23 to $39.03.

JON C. OGG

Filed under: Consumer Electronics, HI/LOW, Technology Companies, Trading Alert, Transports Tagged: AAPL, GOOG, GRMN, TRMB

Top Analyst Upgrades & Downgrades (AMGN, AN, BXP, CREE, DOLE, GRMN, GILD, HIG, HAR, MSFT, NFLX, VRUS, TSN, WYNN, YUM)

Administrator — Tue, 22 Nov 2011 13:29:44 +0000

These are some of Tuesday’s top analyst upgrades, downgrades, and initiations seen from Wall Street research calls.

Amgen Inc. (NASDAQ: AMGN) Cut to Market Perform at BMO.
AutoNation Inc. (NYSE: AN) Raised to Neutral at Goldman Sachs.
Boston Properties Inc. (NYSE: BXP) Maintained Buy but cut target to $105 from $120 at Argus.
Cree Inc. (NASDAQ: CREE) Maintained Buy with $33 target at Canaccord Genuity.
Dole Food Co. Inc. (NYSE: DOLE) Cut to Underperform with $9 target at BofA/ML.
Garmin, Ltd. (NASDAQ: GRMN) reiterated Outperform as Bull of the Day at Zacks.
Gilead Sciences Inc. (NASDAQ: GILD) Raised to Outperform at BMO; Raised to Buy at Citigroup (late-Monday).
Hartford Financial Services Group (NYSE: HIG) Cut to Underperform as Bear of the Day at Zacks.
Harman International Industries Inc. (NYSE: HAR) named as Value stock of the day at Zacks.
Microsoft Corporation (NASDAQ: MSFT) Started as Hold at ThinkEquity.
Netflix, Inc. (NASDAQ: NFLX) Re-initiated as Sell with $60 target at Canaccord Genuity.
Pharmasset, Inc. (NASDAQ: VRUS) downgraded by Wells Fargo, UBS, Canaccord Genuity, Leerink Swann, and Citigroup after super-premium buyout.
Tyson Foods, Inc. (NYSE: TSN) Reiterated Buy at BofA/ML.
Wynn Resorts Ltd. (NASDAQ: WYNN) Cut to Neutral at Janney Capital.
YUM! Brands, Inc. (NYSE: YUM) added to U.S. Focus List at Credit Suisse.

JON C. OGG

Filed under: Analyst Calls Tagged: AMGN, AN, BXP, CREE, DOLE, GILD, GRMN, HAR, HIG, MSFT, NFLX, TSN, VRUS, WYNN, YUM

Top Active Trader Alert Stocks (CTSH, ERIC, GRMN, HGSI)

Mike Sauter — Wed, 02 Nov 2011 12:52:15 +0000

Active traders and day traders have many stocks to choose from this Wednesday morning. We are tracking news and moves in shares of Cognizant Technology Solutions Corp. (NASDAQ: CTSH), Ericsson Telephone (NASDAQ: ERIC), Garmin Ltd. (NASDAQ: GRMN), and Human Genome Sciences, Inc. (NASDAQ: HGSI).

Cognizant Technology Solutions Corp. (NASDAQ: CTSH) is down more than 4% premarket to $68.00, relative to a 52-week range of $53.54 – $83.48.

Ericsson Telephone (NASDAQ: ERIC) is up 2.48% before market open to $10.35, relative to a 52-week range of $8.83 – $15.44.

Garmin Ltd. (NASDAQ: GRMN) is up nearly 9% before market open to $37.25, relative to a 52-week range of $28.49 – $36.42.

Human Genome Sciences, Inc. (NASDAQ: HGSI) is down 6.7% premarket to $9.65, relative to a 52-week range of $9.68 – $30.15.

Filed under: Pre-Market Activity Tagged: CTSH, ERIC, GRMN, HGSI

Garmin Expanding in South Africa (GRMN)

Administrator — Mon, 19 Sep 2011 13:32:30 +0000

Garmin Ltd. (NASDAQ: GRMN) is a company that most Americans have historically used for auto navigation. Now that smartphones have taken over much of that market for free or nearly free, Garmin has been trying to reinvent itself. From boat navigation, to international market expansion, to using positioning services for exercise and recreation, the company is trying to position itself for the future.

A new announcement this morning would appear to be an implied cost saving acquisition rather than a true expansion. Garmin announced the acquisition of Garmin Distribution Africa (Pty) Ltd. (GDA). This company is Garmin’s distributor of Garmin’s automotive, outdoor recreation, fitness and marine products in Southern Africa. It is also acquiring Garmap (Pty) Ltd., a South African mapping and mobile applications provider.

Financial terms were not disclosed, but the company said it will continue operations at its current headquarters and warehouse facility outside of Johannesburg with about 70 associates.

Garmin’s stock has fought off the erosion trends so far as its share price is $33.73 and the 52-week trading range is $28.49 to $36.42. To show just how cautious the field is, Thomson Reuters has a consensus price target objective of $34.13 and the short interest is about 19 days to cover with some 22,381,340 shares listed as the most recent short interest.

JON C. OGG

Filed under: Consumer Electronics, International Markets, Mergers and Buy Outs Tagged: GRMN

Garmin Shows PND & GPS Market Decline To Remain Secular (GRMN, TRMB)

Administrator — Wed, 03 Aug 2011 11:43:17 +0000

Garmin Ltd. (NASDAQ: GRMN) has reported earnings and the numbers are going to be a disappointment to many hanger-on bulls who still want to see a return of growth. The GPS and personal navigation device leader is showing how the declines are already in place.

Earnings per share fell 16% to $0.56 from $0.67 in second quarter 2010, but the ‘pro forma’ earnings came down by 26% to $0.63 EPS from $0.85 in the same quarter in 2010. Revenue fell 8% to $674 million. The $0.63 and $674 million compares to Thomson Reuters estimates of $0.66 EPS and $633.75 million. Free cash flow generation was $196 million in the quarter.

The company has given guidance that is a disappointment as well for 2011: it sees earnings at $2.00 to $2.15 EPS and sees revenues in 2011 at $2.5 to $2.6 billion. Thomson Reuters has estimates of $2.48 EPS and $2.52 billion in revenues.

The company’s core Automotive/Mobile segment revenue was down 19% to $363 million. Its “other” 4 areas did grow but the issue is that they grew at a rate that still does not come close to offsetting the bleed-out in the auto segment with revenues as follows: Outdoor rose 1% to $81 million; Fitness rose 25% to $78 million; Aviation rose 13% to $73 million; and Marine rose 6% to $79 million.

If Garmin looks at the map, the North American market is tanking, with growth coming from elsewhere: North America revenue fell 21% to $358 million; Europe revenue rose 12% to $253 million, Asia revenue was up 31% to $63 million. Garmin also noted a drop in units shipped by 6% year-over-year to 3.8 million units.

Gross margin rose sequentially but fell year-over-year to 48% (versus 47% in the first quarter and 54% in second quarter 2010). Operating margin fell to 20% (versus 28% in Q2 and 15% a year ago). Garmin also lowered its margin guidance: 45% to 46% for 2011 on a gross margin basis and 16% to 17% on an operating margin basis.

The improved revenue note for 2011 appears to be from acquisitions as well. The company noted that the improvement in sales will be driven primarily by the acquisitions of Navigon and Tri-Tronics; the EPS drop is due to the accelerating deferral of high margin revenues and associated costs. In short, the decline is happening at a rate that may even be faster than Wall Street is expecting.

Garmin may feel like a value stock to many of the hold-out bulls. The problem is that with a core business decline coming faster than its other segments can possibly grow this is actually a value trap. After closing at $31.53 on Tuesday, the pre-market is down close to $28.00 in very thin volume indications. Analysts are already looking for lower numbers in 2012.

Trimble Navigation Limited (NASDAQ: TRMB) was actually higher after its earnings on Tuesday evening. We have yet to see formal trading but the stock is indicated up above $35 this morning after closing at $33.08 yesterday.

Another business segment has been marginalized by the growth of smartphones and the GPS and PND features offered. At some point, the company better go hire some of the cigarette executives to help manage the business through a period where the core business faces a secular decline.

JON C. OGG

Filed under: ADR, Consumer Electronics, Earnings, Earnings Warning Tagged: GRMN, TRMB