Garmin Shares Plunging On TomTom Guidance

Shares of Garmin GRMN are plunging intra-day on Monday after the company said that its TomTom segment has been deteriorating over the last several weeks. TomTom now sees Q2 sales in a range between 300-310 million euros, full year sales of 1.22-1.275 billion euros, and EPS between 0.25-0.30 euros. The stock is currently trading down 6.13% to $31.40.