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GPS-Maker Garmin Sees its Shares Plummet on Profit Worries

By , Executive Editor, Money Morning • @privatebrief -

By William Patalon III Executive Editor Money Morning/The Money Map Report Shares of GPS-device-maker Garmin Ltd. (GRMN) plunged as much as $12.70 yesterday (Wednesday) – extending a longer-term decline – after a Deutsche Bank AG (DB) analyst downgraded the shares, and warned that spiraling competition from rival TomTom NV may lead to a profit-crimping price […]

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Garmin Withdraws Tele Atlas Bid; May Become Takeover Target

By , Executive Editor, Money Morning • @privatebrief -

By William Patalon III Managing Editor Money Morning/The Money Map Report Garmin Ltd. (GRMN), the largest U.S. maker of satellite-navigation devices, dropped its $3.4 billion bid for digital-mapmaker Tele Atlas NV (TLATF), handing victory in the strategic bidding battle to European rival TomTom NV. The strategic reversal by Garmin could put the George Town, Grand […]

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GPS Leader Garmin Weighs Counterstrike in Crucial Battle For Digital Mapmaker Tele Atlas; Settles Patent Dispute With Rival TomTom

By , Executive Editor, Money Morning • @privatebrief -

By William Patalon III Managing Editor Money Morning Garmin Ltd. (GRMN) yesterday (Thursday) said it is still reviewing its previously disclosed plans to make a cash offer to acquire digital mapmaker Tele Atlas NV (TLATF), which is also being pursued by Garmin's European rival, TomTom NV. TomTom currently has the upper hand. It recently boosted […]

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TomTom Bangs Out Higher Bid For Mapmaker Tele Atlas

By , Money Morning -

From Staff Reports TomTom NV, Europe's largest maker of navigation devices used in automobiles, has boosted its bid for digital-mapping company Tele Atlas NV (TLATF) by 41% to $4.2 billion, leapfrogging a competing $3.31 billion offer from Garmin Ltd. (GRMN), and significantly upping the ante in the bidding battle for the last independent computerized-cartography company. […]

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Microsoft Eyeing GPS-Maker Garmin, Analyst Reports

By , Money Morning -

From Staff Reports Shares of Garmin Ltd. (GRMN), the biggest U.S. maker of portable navigation devices, jumped by nearly 4.6% yesterday (Monday) on speculation that it is a buyout target of Microsoft Corp. (MSFT) – and after an analyst boosted his rating on the stock. Garmin's shares closed yesterday at $108.46, a jump of 4.58%, […]

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Savaged Garmin Battles Back With Cell Phone Navigation Software

By , Money Morning -

From Staff Reports In one of those ultimate business ironies, just days after its shares were pounded by investors over fears it would flounder because of competition from "smart" cell phones, GPS-maker Garmin Ltd. (GRMN) yesterday (Wednesday) introduced a $99 software package that turns "smart" wireless phones into high-end navigation units. The shares of the […]

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Nokia Announces $8.1 Billion Acquisition of Navteq

By , Money Morning -

From Staff Reports Nokia Corporation (NOK), the largest cell phone maker in the world, announced yesterday (Monday) that it plans to buy Chicago-based Navteq (NVT), a leading digital mapmaker, for about $8.1 billion. The proposed deal at $78 a share would be Finland-based Nokia's biggest purchase, and it follows the heels of Nokia's acquisition of […]

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