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

|About: Garmin Ltd. (GRMN)|By:, SA News Editor

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.