Topic: Growth Stocks

The Stock Pickers Digest Hotline – Friday, October 30, 2009

Article Excerpt

GARMIN LTD., $30.26, symbol GRMN on Nasdaq, fell over 20% this week after Dutch-based rival TomTom reported that average selling prices for its devices were 8% lower than analysts were expecting in its latest quarter. Like TomTom, Garmin makes navigation devices that use the global positioning system (GPS). The company reports its results next week. Also this week, Motorola and Verizon Wireless announced the first smartphone to feature Google’s Android 2.0 operating system for mobile devices. The new phone will allow users to access Google Maps Navigation, which provides turn-by-turn voice guidance as a free feature of Google Maps. The phone will also offer additional features, such as live traffic and business information, and Google Street View, which shows users photographs of the streets they look up. Unlike TomTom, U.S.-based Garmin’s selling prices should be supported by rising foreign currencies against the U.S. dollar. That also lifts the value of Garmin’s international sales, which now make up 35% of its overall…

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