From a recent Mad Money show: "I've had a sell sell sell on that for a whole year. They'll talk a good game ahead of Christmas, but you've got to sell that one."

Car and Limo Service Avoids Market Potholes:
Corporate Transportation Group's main clients are banks and law firms -- all hit hard in this economic crisis. President Eddie Slinin tells Alix Steel how he stays on top of the competition and never loses hope.


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Good products

GPS Leader - much potential

Sprint Instinct's a Natural: With Sprint claiming killer Instinct sales on the first day but providing no hard numbers, Gary Krakow and Alix Steel hit the stores to see just how fast the new devices are selling.

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From a recent Mad Money show:

"No. no. no. That's a commodity play and I've been telling people to sell it since December. There's nothing there. GPS is everywhere now; I could make one in my kitchen."

The leading manufacturer of GPS products said that it will buy back 10 million shares of common stock by December 31, 2009. The timing and amount of the repurchases will depend on market conditions. Garmin added that it recently completed its 5 million share repurchase plan which was authorized in February 2008.

The company based out of George Town, Cayman Islands also announced that it will distribute a 2008 cash dividend of 75 cents a share, which will be paid on December 15, 2008.

On April 30th Garmin said strong demand for automotive and mobile products forced first-quarter profits higher. During the quarter ended March 29, Garmin experienced net income of $147.8 million, or 67 cents a share, compared with $139.9 million, or 64 cents per share, in the same period last year. Total sales grew from $492.2 million to $663.8 million, but in particular the automotive and mobile segment surged 42.7% to 451.9 million. However the overall results did not reach analysts expectations, as shares dipped 7% following the news.

“We are pleased with our performance in the first quarter, particularly given the general slowdown in the global economy. Demand for our automotive/mobile products continued beyond the traditionally strong fourth quarter holiday season,” said Garmin Chairman CEO Dr. Min Kao.

Analysts Scott Sutherland from Wedbush Morgan Securities is bullish on Garmin. He has a buy rating on the stock and recently increased his price target to $59 from $55 noting the new buyback and positive comments from one of Garmin’s competitors, Magellan. After discussions with Magellan’s CEO, Sutherland commented, “it appears that unit growth remains 100%+ in the U.S., 35-40% in Europe, and very robust from a small base in Asia. We also believe Garmin is gaining market share in Europe and that prices for chipsets, memory, and maps continue to drop.”

The leading manufacturer of GPS products said that it will buy back 10 million shares of common stock by December 31, 2009. The timing and amount of the repurchases will depend on market conditions. Garmin added that it recently completed its 5 million share repurchase plan which was authorized in February 2008.

The company based out of George Town, Cayman Islands also announced that it will distribute a 2008 cash dividend of 75 cents a share, which will be paid on December 15, 2008.

On April 30th Garmin said strong demand for automotive and mobile products forced first-quarter profits higher. During the quarter ended March 29, Garmin experienced net income of $147.8 million, or 67 cents a share, compared with $139.9 million, or 64 cents per share, in the same period last year. Total sales grew from $492.2 million to $663.8 million, but in particular the automotive and mobile segment surged 42.7% to 451.9 million. However the overall results did not reach analysts expectations, as shares dipped 7% following the news.

“We are pleased with our performance in the first quarter, particularly given the general slowdown in the global economy. Demand for our automotive/mobile products continued beyond the traditionally strong fourth quarter holiday season,” said Garmin Chairman CEO Dr. Min Kao

Analysts Scott Sutherland from Wedbush Morgan Securities is bullish on Garmin. He has a buy rating on the stock and recently increased his price target to $59 from $55 noting the new buyback and positive comments from one of Garmin’s competitors, Magellan. After discussions with Magellan’s CEO, Sutherland commented, “it appears that unit growth remains 100%+ in the U.S., 35-40% in Europe, and very robust from a small base in Asia. We also believe Garmin is gaining market share in Europe and that prices for chipsets, memory, and maps continue to drop.”

beaten down far too much

all over ?

GPS is a declining CE category and GRMN is going down in an ugly way.

COMPETITION

I almost arranged my own funeral I lost so much $$ on that stock. It is still junk.

have it in my phone

Run into the ground by big institutions

lost 20% recently, wanted out of anything tioed into autos

GPS - Makes play dates and birthday parties easier to find.

valuation and competition

price squeeze and growing competition

lost 19% so far