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 firstname.lastname@example.org; he does not own securities in the companies he covers.