S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Telecom & Wireless

Garmin Strikes Out (GRMN)

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Garmin, the maker of portable GPS devices, has had a tremenous run. The stock traded for just above $20 in April 2005. It now changes hands at over $55.

Part of the company’s attraction is it patent portfolio, but that was tarnished recently as a federal court found that an action the Garmin had brought against arch-rival TomTom has failed. According to MarketWatch: "Garmin had brought the litigation against TomTom asserting five core patents. The decision finds that all five patents are either invalid or not infringed, TomTom said"

Interestingly enough, Garmin claims it won the legal action. Some portion of the court battle will go on. Garmin has enjoyed tremendous growth, Revenue in 2003 was $573 million. In 2005, it was $1.028 billion. But, the Septembe quarter’s revenue was actually below reveue for the second quarter this year.

If the litigation mess move against Garmin, the stocks run may be nearing an end.  It has traded fairly flat since June, and the catalysts that made it a buy may be disappearing.

Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Douglas A. McIntyre |

Garmin Settles With TomTom (GRMN)

Garmin Ltd. (NASDAQ:GRMN) is trading up in pre-market trading today.  The GPS consumer device maker has announced that it has…
Trey Thoelcke |

One More Patent Boom for VirnetX

VirnetX Holding Corp. (NYSEMKT: VHC) has announced that on Wednesday the U.S. District Court for the Eastern District of Texas,…
Douglas A. McIntyre |

As Oracle Sues Google, Tech IP Issues Are Too Close For Comfort

There have been for some time a collection of companies that gathers patents and then uses them to sue large…
Douglas A. McIntyre |

Vonage Files Its Annual Report; Risks, Legal Proceedings, & All

If you look through the Vonage Holdings’ (VG-NYSE) annual report just filed with the SEC, you might end up asking…
Douglas A. McIntyre |

SCO’s Last Annual Report Ever? (SCOX, SCOXQ)

SCO Group, Inc. (Pink Sheet-SCOXQ), formerly "SCOX," has filed its annual report.  After you have seen the history of this…
Douglas A. McIntyre |

Crocs Sues Its Way Out of Ugliness

Perhaps one of the more interesting ways of looking at companies is trying to garner the mindset of the company’s…
Jon C. Ogg |

Full 360-Degree Review of the 50% Gain in Mitek Shares

Thursday's move in Mitek Systems was up more than 50% at one time, based on the company settling all the…
Douglas A. McIntyre |

Tivo (TIVO) Late In Suing AT&T (T) And Verizon (VZ)

Tivo (TIVO), the pioneer in video recording devices lost most of its franchise to generic versions of its original product.…
Court Sides With VirnetX, Affirms $506 Million Judgment Against Apple
Paul Ausick |

Court Sides With VirnetX, Affirms $506 Million Judgment Against Apple

Apple's request was denied for a new trial in a patent infringement case brought against the company by VirnetX. The…

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618