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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