Trimble’s Stock Woes
After last week's announcement that the company has revised guidance for its second quarter earnings, Trimble Navigation (TRMB) continues to show weakness. On April 29, Trimble reported Q1 earnings of $384 Million, an increase of 20% over Q1 2010. However, according to Stock Market Weekly, the stock was downgraded from "Buy" to "Hold" by Canaccord Genuity. That led the stock to shed nearly 8% to close at $46.84. The stock continued to slide to under $40 but has since rebounded to the $44.00 range today. Since last May at this time, however, the stock has nearly doubled in value.
by Joe Francica on 05/09 at 09:29 AM |
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