Posts for Ticker ‘NVT’

Garmin Punished by TomTom Warning, A Week After Garmin’s Own Downward Guidance (GRMN, TRMB, NVT, NOK)

Garmin Ltd. (NASDAQ: GRMN) is in a funk, after being in its own funk less than one week ago.  Just last week it gave comments to Reuters discussing forward guidance that Wall Street rightfully took as a light version of an earnings warning, which was going to be under estimates if the company wasn’t trying to leave itself with a huge amount of leeway so it would be well received.  Garmin’s biggest problem now, besides a market and economy that won’t be good for it, is that its shares just took out 52-week lows again.

Today, TomTom overseas issued its own warning. It noted that retailers had reduced PND devices inventory levels by more than expected.

This just goes to show you that even after a major market drop and recovery that the markets are nowhere close to efficient as of yet.  Garmin already outlined much of this last week.  We noted that Garmin’s woes looked adequately factored in after a 60% drop last week with using some common sense about what people will spend on in 2008, although we also noted that the PND and GPS sector was still going to have problems of its own.  So the market is back to headline-reactionary only: "Industry leader warns, stock drops severely… 1 week later its competitor warns, industry leader’s stock whacked hard again."

We first started seeing signs of a crack in the GPS market back in November, 2007, when we saw Trimble Navigation (NASDAQ: TRMB) issue statements.  Speaking of Trimble, its shares are down mildly by almost 1% at $27.10 today.

Shares of NAVTEQ Corp. (NYSE: NVT) are actually up marginally today and up quite a bit higher than last week, so perhaps the fears are easing about any concerns over Nokia (NYSE: NOK) acquiring it.  That is still under European Union review and could be close to three months before the full answer is known.  NAVTEQ shares are up 1.3% at $66.90, which is more than 6% off of the lows of last week.

A downgrade out of Soleil Securities from this morning certainly isn’t helping after the boutique lowered its Buy rating down to a new Hold rating.  Just keep in mind that this downgrade while the stock is under $50.00 comes after a 60% sell-off after this has been as high as $125.00.  We would caution that stocks that gap under $52-week lows twice tend not to see immediate recoveries, and a stock trading community that can only react to every headline as if it was fresh and developing each day isn’t going to offer much help either.

You can join our open email distribution list to hear about buybacks, special financings, secondary offerings, M&A, and more previews for other special situations.

Jon C. Ogg
April 8, 2008

Jon Ogg produces the Special Situation Investing Newsletter.  He can be reached at jonogg@247wallst.com and he does not own securities in the companies he covers.

Posted on: April 8, 2008 – 1:32 pm in Consumer Electronics, , , ,

Garmin Guidance Priced In, But PND Sector & Merger Issues Persist (GRMN, NVT, TRMB, NOK)

Garmin Ltd. (NASDAQ: GRMN) already saw the wrath of traders today after its CFO told Reuters in an interview that the revenue drop on a sequential basis (quarter/quarter) would see a drop of 40% to 50%.

With the last quarter showing some $1.217 Billion in revenues, you would derive a new range of $606 million to $730 million.  Before any estimate changes have been made, First Call has estimates for the quarter at $731.4 million.  When you compare that to Q1 2007, it doesn’t look so bad as the Q1 2007 showed some $492 million in revenues.

In no way can you call this good news, but…..  There is always a silver lining if you look at the big picture.  Garmin shares were trading down 10% around $50.00 in pre-market trading.  The low print was $50.18 today, under the prior 52-week low of $52.18. 

We noticed some trends peaking back in November when we saw some concerning data out of Trimble Navigation (NASDAQ: TRMB). 

One other issue to constantly watch is that Nokia (NYSE: NOK) acquisition of NAVTEQ (NYSE: NVT).  With a cash purchase price of $78.00 per share and a current share price of $64.70, you have to wonder about the reality of many thinking a Nokia regret or buyer’s remorse.  That’s the situation, even if NAVTEQ already approved the deal. Shares were above $75.00 just one month ago.  That is a wide enough arb-spread to scare many merger-arb players.  The European Commission’s extended review already gives this another 90 to 125 days before that approval answer is known.

With a high of $125.68 over the last year (October 2007), this sell-off marked a more than 60% cut in share prices.  An $11.7 Billion current market cap still seems high, but at some point enough is enough.  Things can always get worse, that is always present.  But shares are down by less than 5% at $53.84 after 90-minutes of trading.

It’s not prudent to call an all-clear and run out in the open here.  But it would also be foolish to say that you have only seen the beginning.  Sometimes "Less-Bad" is good enough.  It might not be the perfect comfort level entry for a longer-term investor, but the day traders just cleaned up this morning.

We consistently review merger-arb statistics and spreads for our special situations newsletter and we also make many general updates regarding mergers, speculation, and more on our open email distribution list.

Jon C. Ogg
April 3, 2008

Jon Ogg produces the Special Situation Investing Newsletter; he does not own securities in the companies he covers.

Posted on: April 3, 2008 – 10:21 am in Consumer Electronics, Earnings Warning, Wireless, , , ,

Backward & Forward, Cramer In 2007 To 2008

2007 was one volatile year and for now it appears that will be the norm for at least the start of 2008.  Everyone’s favorite market pundit or least liked pundit is obviously Jim Cramer.  If you love Cramer or can’t stand him it really doesn’t matter.  He signed a new multi-year deal with CNBC recently.  Here are some of his major calls this year that will still be referred to in 2008:

Here were Cramer’s TOP 9 STOCKS FOR 2007, with a call broken down for each one.  Borat would say HI FIVE on some and NOT SO NICE on others, as would be expected.  Cramer’s 14,582 year-end DJIA target…..Friday’s close was 13,365.87……although we did hit 14,279.96 on OCT11, 2007.  Cramer also gave a batch of price targets on most of theDJIA components:

Cramer’s Stock Picks FOR 5-YEARS OUT:

SOME LISTS: His list of recession proof stocks compared to ours.  We are updating our
Defensive Stocks For The First Half Of 2008" currently.  Cramer gave a huge list of companies he expects to benefit from the alternative energy traders (SGR, FWLT, BWA, OMG, FSLR, FTEK, WFR, TTEK, ZOLT, BP, SPWR, CY, CPST, ITRI)… Jim Cramer pondered which US companies China would want to acquire, about 3 months before sovereign funds started buying into US companies.  Cramer’s mortgage winners and losers…… Here were his MAJOR BULL MARKET STOCK PICKS(MHS, CVS, AGN, CELG, GENZ, CEPH, RIG, HAL, EMR, CAT, CMI, UTX, KO,PEP, CL, GS, SKS, VFC, UNP, CSX, BA), some of which are DJIAcomponents.  Cramer produced a "MUST OWN" list of stocks, many of whichare up significantly and some are down (WHR, BDK, ATI, BGC, HON, ASD, JCI, MDR, FWLT, CAT, TEX, DE, QCOM)

Cramer spent lots of time on International stocks that most US investors might not cover on their own.  He made a big call on Mercadolibre (MELI) (also BIDU, GOOG) with some emphasis on buying immediately, right before it made a huge run up.  Cramer’s Hidden Video Game Investment Perfect World (PWRD, ATVI, ERTS, VIA) was one he said could run more than 50% for 2008.  Cramer made 5 TOP CHINESE PICKS (CEO, CHL, SSW, FMCN, BIDU, GMR).  We’ll see in 2008 if any of his Canadian OIL TRUSTS get acquired in 2008 (BTE, CNE, PGH, PVX, PWE, AAV, GDI).  Cramer also went over his top picks from Europe for American investors (TOT, SI, ABB, PHG, BF)

ON TECHNOLOGY:  Cramer’s NEW HORSEMEN OF TECH…. will the list change in 2008???  Did Cramer Say $1,000.00 on Google, Or Is It $600.00? That was in May 2007.  Cramer Gave Monster Price targets to Baidu.com (BIDU, GOOG).. will these targets change in 2008? Cramer was very positive on all the GPS stocks,although we’d expect that Cramer will change his tune in 2008 now thatthe holiday madness is behind us (GRMN, UA, CROX, NVT, TRMB, SIRF).

Would it be fair not to include the Barron’s attack on Cramer from summer for those of you that criticize his every word?

ON WARREN BUFFETT…. Cramer noted that BROOKFIELD ASSET MANAGEMENT in Canada may be the next Berkshire Hathaway (NYSE:BRK/A) NYSE: BAM). Cramer reviewed 10 Warren Buffett stocks for analysis and then reviewed 10 More Warren Buffett stocks:

Will his buyout of ALCOA (AA) prediction come true in 2008??? Cramer gave a list of stocks that had bought back so much stock that they might be taking themselves private.

Join our free email distribution list for other Cramer calls or for updates we send out regarding IPO’s, spin-offs, restructuring, reorganization, activist investors and more.

Happy New Years from the 247WallSt.com team!

Jon C. Ogg
December 31, 2007

Posted on: December 31, 2007 – 8:01 am in Cramer, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Garmin Ltd. Secures Its Future (GRMN, NVT, NOK)

Garmin Ltd. (NASDAQ:GRMN) decided to take the steps that insure its future is secure.  The personal navigation device maker has signed a 6-year extension to the agreement with NAVTEQ (NYSE:NVT) (soon to be part of Nokia-NOK) for digital map data for location based solutions and vehicle navigation. The agreement allows Garmin to continue using NAVTEQ data through 2015, but this may really be a 10-year deal as Garmin has an option to renew for an additional 4-years.

Subsequently, Garmin has also announced today that in light of these developments it does not intend to pursue its offer for Tele Atlas N.V.  So now TomTom will win teh TeleAtlas bidding.  This new agreement makes that risk almost immaterial now.

24/7 Wall St. is momentarily about to release a new Special Situation Investing Newsletter with a stock pick in the GPS, PND, and UMPCs sector that we feel should be acquired in the coming weeks to months.  The hold period we are expecting does not look like it will be a long-term position and the entire trade has the ability to be hedged with options.  We have consulted with several industry and research professionals and it is surprising that a) Wall Street has overlooked this one and b) that the company hasn’t been taken out already.

We comment on other merger developments in multiple sectors and dealing with private equity on our open distribution list.  There we provide more general summaries and previews for our subscriber products covering buyouts, spin-offs, backdoor plays into IPO’s, reogranizations, and break-up values.

Garmin shares are up more than 20% pre-market and back above $100 on over 2 million shares.

Jon C. Ogg
November 16, 2007

Jon Ogg produces the 24/7 Wall St. Special Situation Investing Newsletter; he does not own securities in the companies he covers.

Posted on: November 16, 2007 – 9:20 am in Consumer Electronics, Satellite, Technology Companies, Wireless, , ,

Trimble May Knock GPS Stocks (TRMB, GRMN, SIRF, NVT)

Trimble (NASDAQ:TRMB) posted EPS of $0.29 non-GAAP on revenues of $296 million; First Call had estimates at $0.28 EPS on revenues of $299.7 million.  The company posted $0.22 GAAP EPS(on higher tax rates).  Operating income for the third quarter of 2007 was $43.8 million, up 21% from the third quarter of 2006. Operating margins in the third quarter of 2007 were 14.8 percent, compared to 15.5% in the third quarter of 2006 (on amortization costs).

Guidance was issued as well. Trimble expects revenue to grow 26% to 28% compared to the fourth quarter of 2006, with revenue between $295 million and $300 million (estimates are $296 million). Trimble expects fourth quarter 2007 GAAP earnings per share between $0.17 and $0.19 and non-GAAP earnings per share between $0.24 and $0.26 (estimates are $0.25). Its non-GAAP guidance use a 39 percent tax rate, compared to an actual 25 percent tax rate in the fourth quarter of 2006, and assume 126 million shares outstanding.

Unfortunately, Wall Street is expecting more out of GPS stocks now.  Now a decision has to be made to see if the laggard in the sector will carry over to the leaders.  TRMB is trading down 10% at $43.05 in after-hours trading after a 6% gain today.

NAVTEQ (NVT) shares are down but only marginally because of the Nokia buyout.  Shares of Garmin Ltd. (GRMN) are down 1.25% at $119.00 in after-hours trading, although shares closed up 4.6% today.  No trading has been seen in SiRF Tech (NASDAQ:SIRF).

Jon C. Ogg
October 23, 2007

Posted on: October 23, 2007 – 3:54 pm in Earnings, , , ,

Pre-Market Analyst Calls (October 2, 2007)

ACAD started as Hold at Citigroup.
ALB raised to Neutral at Goldman Sachs.
AMB raised to Buy at B of A.
APD cut to Neutral at Goldman Sachs.
BAC started as Buy at Goldman Sachs.
BDN cut to Neutral at B of A.
BIIB cut to Underperform at Credit Suisse.
BRLC cut to Neutral at R.W.Baird.
CBS cut to Hold at Deutsche Bank.
CNH cut to Neutral at Goldman Sachs.
CYPB started as Outperform at FBR.
ELN started as Underperform at FBR.
FRX raised to Hold at Citigroup.
MDCO raised to Buy at UBS.
MON removed from Goldman Sachs Conviction Buy List.
MPG cut to Sell at B of A.
NOK cut to Mkt Perform at JMP Securities.
NVT raised to Hold at Deutsche Bank (ooops); cut to Neutral at UBS.
ONXX cut to Peer Perform at at Bear Stearns.
PDLI raised to Outperform at Wachovia.
PLD raised to Buy at B of A.
RATE cut to Neutral at Merriman Curhan Ford.
SLG cut to Neutral at B of A.
STEI started as Buy at B of A.
UBS raised to Neutral at JPMorgan.
VAL cut to Sell at Goldman Sachs.
WAG cut to Neutral at Goldman Sachs (late Monday call); cut to Neutral at Merrill Lynch.

Jon C. Ogg
October 2, 2007

Posted on: October 2, 2007 – 6:42 am in Analyst Calls, , , , , , , , , , , , , , , , ,

Garmin Feeling Immediate Nokia-NAVTEQ Pressure (GRMN, NVT, NOK, TRMB)

We have already covered the Nokia (NYSE:NOK/ADR) buyout of NAVTEQ Corp. (NYSE:NVT).  It is somewhat interesting that NAVTEQ would have allowed itself to be acquired in a no-premium buyout, even if shares are up 200% from the lows over the last 52-weeks.  NVT is trading down almost 2% at $76.50, and it appears that with the market liquidity and deal-making down that Wall Street doesn’t think that a premium buyout is likely.  NVT has a $7.5 Billion market cap.

This is actually punishing shares of Garmin Ltd. (NASDAQ:GRMN) on additional competitive and pricing pressure fears.  Garmin shares are down 12% at $105.00 in early trading.  Garmin is roughly three-times the size of NAVTEQ in size of market cap and it is up roughly 150% from 52-week lows.  This company has been a winner so far, and we expect analysts to come out mixed with some defending shares and some saying Nokia will be tough.

What is interesting is that Nokia is also down over 2.5% at $36.85.  The reason is not likely the dilution as much as the fact that this "could" stress some carrier relationships.  Sure the dilution to the stock will matter, but if Nokia hasn’t anticipated at least some pushback Wall Street would have reason for concern.  Keep in mind that it is a "big IF" because you know they thought this through and through.

We have been reviewing another lesser-known beneficiary of the major growth in GPS systems and in GPS for guidance in cell phones as a potential buyout candidate for the Special Situation Investing Newsletter, although the current position is unclear because of relative values and the valuation of intellectual property as far as the real worth versus the perceived worth.

Trimble Navigation Ltd. (NASDAQ:TRMB) is not seeing any pressure based upon the merger, although arguably it is because that company may be deemed as more protected despite having the lowest market cap and valuations in thr group. But that is another story.

Jon C. Ogg
October 1, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he produces the 24/7 Wall St. Special Situation Investing Newsletter and he does not own securities in the companies he covers.

Posted on: October 1, 2007 – 9:37 am in Mergers and Buy Outs, Satellite, Wireless, , , , ,

Nokia (NOK) Buys Navteq (NVT)

Nokia (NOK) has indeed bought Navteq (NVT) for $78 a share. If so, it is close to a "zero premium" deal.

Douglas A. McIntyre

Posted on: October 1, 2007 – 7:06 am in Uncategorized, ,

Nokia (NOK): Pushing Further Into Portable Software?

There is word from The Wall Street Journal that Nokia (NOK) is in negotiations to buy Navteq (NVT), a navigation software company. The paper describes the company "as is one of the world’s leaders in electronic mapping, which enables in-vehicle navigation devices and a new generation of mobile-phone applications used for shopping, emergency services and advertising."

Navteq has a market cap of over $7.6 billion.

Nokia is sick of just being a handset company. It has a 36% share of the global market, but, as more phones are sold in places like India, margins will be compressed. The price points for handsets sold in developing countries is much lower than in Europe and the US.

Nokia figures that if it can provide services to people who but its handsets, and those of competitors, it can build another layer of revenue into the company. It has already started its own music download business for wireless devices.

The only real problem with the program is that Nokia is setting itself up to compete with the cellular service operators who buy its handsets. Operations like AT&T (T) make a lot of their money selling software and services to customers. They hardly need their largest supplier to take a piece of their sales and profits.

Nokia may think it is a nice problem to have, but time may tell that its largest customers decide to go elsewhere. That, by itself, could give Motorola (MOT) a lift.

Douglas A. McIntyre

Posted on: October 1, 2007 – 5:15 am in Wireless, , , ,

Cramer’s Immune Growth Pick In A Crummy Market (GRMN, UA, CROX, NVT, TRMB, SIRF)

On tonight’s MAD MONEY on CNBC, Jim Cramer wanted to look at what actually works in a major credit crunch.  His situation that worked back in 1990 in food, drug, and soft goods work now, but he’s been covering that already.  The other area he likes: HIGH GROWTH.

Garmin (NASDAQ:GRMN) is a phenomenal high-growth story equal to the trends seen in Under Armour (NYSE:UA) and Crocs (NASDAQ:CROX).  Here’s what he likes about it:  It is the leader in global positioning that is trading under its growth rate.  He really liked the beat they gave with earnings last quarter and the raised guidance.  Shares are down 14% because of the market sell-off and it is still above where it was when it reported.  If shares get much weaker he thinks it’s a gift.  He thinks that it is a cheap growth stock that if he uses the highest estimate from Merrill Lynch that this can hit $116.00.

Cramer even brought on Garmin’s CFO for a telephone interview.  The CFO, Kevin Rauckman, said the company was even surprised with the margins.  The pricing pressures they anticipated haven’t yet surfaced.  As far as manufacturing capacity, they bought a third factory in Taiwan so it can keep doing its own manufacturing and is now in great supply-side shape the rest of the year.  Navigation is still strong and they haven’t seen a pinch from the weaking consumer yet. 

Cramer: Will you have enough product for Christmas?   Rauckman, CFO: "Absolutely….."

If you like the navigation sector, here is what we gave for the sector wrap-up when these companies all reported earnings within the same 24-hour period and here was the preview for the group.  NAVTEQ (NYSE:NVT) and Trimble Navigation (NASDAQ:TRMB) are the two other leaders out of the GPS sector, and SiRF Tech (NASDAQ:SIRF) is the one that makes many of the chipsets and software systems for mobile communications GPS systems.

Jon C. Ogg
August 15, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Posted on: August 15, 2007 – 5:36 pm in Cramer, , , , , ,

GPS Stocks Cruising Up Wall Street & Main Street (GRMN, NVT, TRMB, SIRF)

NAVTEQ  Corp. (NYSE:NVT) is seeing its shares trade up over 10% on strong orders that exceeded estimates and guidance that equally exceeded estimates.  This puts shares within striking distance of highs.

Sector leader Garmin Ltd. (NASDAQ:GRMN) shares are trading up 9% pre-market on results that mirrored those of NAVTEQ.  Earnings rose a sharp 74% with EPS coming in at $0.98 versus a $0.74 estimate.The company raised 2007 guidance on EPS to $3.15 EPS or higher, above the $2.90 estimate from First Call.  Shares are trading at new highs pre-market.

The smaller player in the group is Trimble Navigation Ltd. (NASDAQ:TRMB), is seeing shares indicated up over 3% pre-market on a 23% profit rise.  The company sees EPR at $0.26 to $0.28 and revenues of $294 to $299 million, compared to estimates of $0.26 EPS and under $294 million in revenues. Trimble shares are going to be within a few percent of that $35.60 high.

The only loser in the group is the chip maker for GPS systems, SiRF Technology (NASDAQ:SIRF).  It shares were hampered by what may be as little as one large order or a couple orders still pending and not completed, but nonetheless it posted light revenues and that won’t cut it.  Shares are trading down over 8% pre-market.  This drop puts shares only about $3.00 above the $18.20 low seen in the last 52-weeks.

Here was the full earnings preview for the sector yesterday ahead of the earnings onslaught.

Jon C. Ogg
August 1, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Posted on: August 1, 2007 – 8:30 am in Earnings, Transports, , , , , , , ,

SiRF Technology Goes Its Own Way (SIRF, NVT)

SiRF Technology Holdings Inc. (NASDAQ:SIRF), a Global Positioning Systems chip maker, isn’t following quite the same lead of NAVTEQ (NYSE:NVT) in after-hours trading.  It is possible that the street read the GAAP EPS headline number rather than the non-GAAP, although the revenues look a tad light.

The company posted $0.23 non-GAAP EPS on revenues of $70.6 million, and gross margins of 54.6%.  Unfortunately, Wall Street was looking for $0.23 EPS on $71.5 million in revenues.  The share calculation was up to 56.5 million shares from the prior 56 million shares from Q2 2006.

Total cash, cash equivalents and short-term investments were $211.0 million at June 30, 2007, compared with $170.2 million at December 31, 2006. Long-term investments were $2.0 million at June 30, 2007, compared with $26.4 million at December 31, 2006.  Shares are down about 7% in after-hours trading, and unfortunately that will put shares within 10% of its 52-week lows.  We’ll have to see how this trades tomorrow morning when it is more liquid before passing any final judgement.

Jon C. Ogg
July 31, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Posted on: July 31, 2007 – 4:00 pm in Earnings, Transports, , , , ,

NAVTEQ Guides Itself Up Wall Street

Earnings per share were $0.41 diluted, compared to $0.25 in the second quarter of 2006; Revenue in the quarter rose 49% over the second quarter of 2006 to $202.3 million.  First Call estimates were only $0.27 EPS & $180.25M revenues.

Judson Green, President & CEO: "Our exceptional second quarter results and strong first half performance give us great momentum as we enter the second half of the year…. We are particularly excited by the surging growth we have seen in maps for portable devices and the relative stability of our automotive business despite unfavorable car sales trends in our core geographies."

Revenue from NAVTEQ’s Europe, Middle East & Africa (EMEA) operations totaled $117.6 million in the quarter.  The company is RASING GUIDANCE:  For the fiscal year 2007, NAVTEQ expects revenue of $780 million to $795 million and earnings per diluted share of $1.45 to $1.50 (FIRST CALL ESTIMATES ARE Fiscal 2007 $1.33 EPS & $747.8M revenues). These ranges assume an effective worldwide tax rate of approximately 29%, an average U.S. dollar/euro exchange rate of $1.35, and average diluted shares outstanding of approximately 99.6 million on a full year basis.

This is higher guidance for the year, although if you do the math it looks like most of the gains are coming from this quarter just reported.  Traders are giving this the thumbs up vote with a gain of more than 6% in after-hours trading.

Jon C. Ogg
July 31, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Posted on: July 31, 2007 – 3:43 pm in Earnings, Transports, , ,

Global Positioning Earnings Onslaught (GRMN, NVT, SIRF, TRMB)

It is rare that one sub-sector has all of the key components reporting earnings within the same 24 hour period, but that is the case with the "GPS" or global positioning stocks.  Tonight we have earnings from Timble (TRMB), NAVTEQ (NVT) and SiRF Tech (SIRF).  Tomorrow morning is Garmin (GRMN).  If you are in outside sales, the military, shipping, or do lots of driving then you know the addiction to these.  Particularly since a research analyst just yesterday and Jim Cramer recently called NAVTEQ (NVT) a buyout candidate.  These reports are all after reports that TomTom agreed to Buyout NAVTEQ’s rival TeleAtlas for some $2.6 Billion. Keep in mind that these have experienced significant gains and are all considered hi-beta names.  Here are the earnings previews with some brief notes:

NAVTEQ (NYSE:NVT) reports after today’s close: $0.27 EPS & $180.25M revenues; next quarter $0.26 EPS & $181.4M revenues; Fiscal 2007 $1.33 EPS & $747.8M revenues.  Shares within 10% of recent yearly highs and up over 100% from year lows.  40+ P/E ratio, recently noted as takeover candidate.

Trimble Navigation (NASDAQ:TRMB) reports after today’s close: $0.30 EPS & $311.7M revenues; next quarter $0.26 EPS & $293.4M revenues; Fiscal 20067 $1.12 EPS & $1.19 Billion revenues.  TRMB within 6% of 52-week highs and up over 60% from lows.  Almost $4 Billion market cap and 36+ P/E ratio.

SiRF Tech (NASDAQ:SIRF) reports after today’s close: $0.23 EPS & $71.5M revenues; next quarter $0.28 EPS & $81.4M revenues; Fiscal 2007 $1.06 EPS & $315.5M revenues.  Just recently in new collaboration with Intel pre-market; stock well off of highs because of prior guidance; still massive P/E ratio because of items, but has only a 22.6 forward P/E ratio if it hits estimates.

Garmin Ltd. (NASDAQ:GRMN) reports Wednesday morning before the open: $0.73 EPS & $645.7M revenues; next quarter $0.67 EPS & $601M revenues; Fiscal 2007 $2.90 EPS & $2.62 Billion revenues. Stock already above most analyst targets because of outperformance; shares within 1% of all-time highs (52-week) with an $18.7 Billion market cap; Forward P/E close to 30.

Jon C. Ogg
July 31, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Posted on: July 31, 2007 – 11:48 am in Earnings, Technology Companies, Transports, Wireless, , , , , , , , , ,

Top Earnings Next Week: July 30 & 31 (APC, FPL, HUM, MNST, OSTK, RSH, SUNW, VZ, AEP, ADP, AVR, BWLD, CMG, COH, RIO, FSLR, GM, IACI, IMCL, NVT, NMX, RNWK, RUTH, SIRI, UA, WFMI)

MONDAY, JULY 30, 2007
ABN AMRO (ABN)
Anadarko Petroleum Corp. (APC)
Archer Daniels Midland (ADM)
Cameco (CCJ)
FPL Group (FPL)
HSBC Holdings (HBC)
Humana (HUM)
Monster Worldwide (MNST)
Overstock.com (OSTK)
RadioShack Corp. (RSH)
Simon Property (SPG)
Statoil (STO)
Sun Microsystems (SUNW)
Principal Financial Group (PFG)
Tyson Foods (TSN)
Verizon (VZ)
Wm Wrigley (WWY)

TUESDAY, JULY 31, 2007
Alcan (AL)
American Capital Strategies (ACAS)
American Electric Power    (AEP)
Aon Corporation    (AOC)
Automatic Data Processing (ADP)
Aventine Renewable Energy (AVR)
Avon Products (AVP)
Buffalo Wild Wings, Inc. (BWLD)
CBS Corp. (CBS)
Chipotle Mexican Grill (CMG)
Coach, Inc. (COH)
Companhia Vale do Rio Doce-CVRD    (RIO)
Crown Castle International (CCI)   
CryoLife, Inc. (CRY)
Denny’s Corp. (DENN)
DreamWorks Animation SKG (DWA)
Encore Acquisition Company (EAC)
FEI Company (FEIC)
First Solar (FSLR)
Fresh Del Monte (FDP)
Gartner (IT)
General Cable Corp. (BGC)
General Motors (GM)
Headwaters Inc. (HW)   
IAC/Interactive (IACI)
ImClone Systems (IMCL)
IndyMac Bancorp    (IMB)
Liz Claiborne (LIZ)
Marathon Oil (MRO)
MetLife Inc. (MET)
NAVTEQ Corp. (NVT)
NCR Corp. (NCR)
Nicor Inc. (GAS)
Northwest Airlines (NWA)
NYMEX Holdings (NMX)
PMI Group (PMI)
RealNetworks (RNWK)
RenaissanceRe Holdings (RNR)
Ruth’s Chris Steak House (RUTH)
SiRF Tech (SIRF)   
Sirius Satellite Radio (SIRI)
St. Joe Company    (JOE)
Trimble Navigation (TRMB)
Tupperware Brands (TUP)
Turbochef (OVEN)
Under Armour (UA)
Valero Energy (VLO)
Vornado Realty Trust (VNO)
Waste Industries (WWIN)
Waste Management (WMI)
Watts Water Tech (WTS)
WebMD Health (WBMD)   
Whole Foods Market (WFMI)

We will be following up with many of these individually over the weekend and early in the week with full earnings previews.  Have a great weekend.

-The 24/7 Wall St., LLC team

Posted on: July 27, 2007 – 3:43 pm in Calendar, Earnings, , , , , , , , , , , , , , , , , , , , , , , , , ,

Pre-Market Analyst Calls (July 23, 2007)

AFL raised to Overweight at Lehman.
AMGN raised to Hold at Citigroup.
ASBC cut to Underweight at Lehman.
BUD raised to Hold at Citigroup.
CKR started as Neutral at JPMorgan.
EMN raised to Buy at Citigroup.
EOG cut to Sell at Citigroup.
FPL raised to Outperform at Baird.
FTO started as Neutral at UBS.
GAP cut to Sector Perform at CIBC.
HBC raised to Overweight at Lehman.
IMAX raised to Buy at Merriman Curhan Ford.
KWK cut to Sell at Citigroup.
NVT raised to Buy at UBS.
PGN raised to Outperform at Baird.
PNY raised to Outperform at Baird.
SUN started as Neutral at UBS.
TAC cut to Sector Perform at CIBC.
TSO started as Neutral at UBS.
VLO started as Buy at UBS.
VMSI cut to Sector Perform at CIBC.
WNR started as Reduce at UBS.

Jon C. Ogg
July 23, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Posted on: July 23, 2007 – 6:49 am in Analyst Calls, , , , , , , , , , , , , ,

Cramer Thinks Navteq Could Get a Bid

Last night on CNBC’s Mad Money, Jim Cramer had an interesting thought regarding merger rumors and speculation.  it was his ‘Speculation Friday" after all.  He surmized that Navteq Corp. (NVT-NYSE) is potentially in-play.  Because of the fact that Navteq is inside the digital mapping systems for Google’s (GOOG-NASDAQ) maps, Cramer thinks that Microsoft (MSFT-NASDAQ) could actually trump Google by acquiring the company. 

This would be an interesting strategy and would create some disarray in the Google Earth enironment.  But the question is how much would it be worth for Microsoft to do this, because the market cap of Navteq is more than $4 Billion already.  This stock closed down 0.6% Friday at $42.57, up from $37.27 on Tuesday.  This wasn’t because of a merger rumor but was because the CEO of Navteq gave positive data presentations at a Lehman conference this week.  This would be an interesting buy, but even after Microsoft spent $6 Billion or more for aQuantive (AQNT-NASDAQ) it would be a wonder if they just teed up another few billion here just to backdoor google.

Jon C. Ogg
June 2, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Posted on: June 2, 2007 – 6:16 am in Cramer, Mergers and Buy Outs, Rumors, , , ,