Seeking Alpha

Garmin (GRMN +3.6%) is delivering a healthy gain on a down day, thanks to rival TomTom's...

Garmin (GRMN +3.6%) is delivering a healthy gain on a down day, thanks to rival TomTom's (TMOAF.PK +10.8%) better-than-expected Q2 report. While revenue fell 17% Y/Y and consumer navigation device sales dropped 26%, TomTom, which is heavily exposed to Europe, reiterated its 2012 revenue and EPS guidance. 14.1% of Garmin's float was shorted as of June 29.
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