Filed under: Deals, Options, Technical Analysis, Garmin Ltd (GRMN)

Garmin Ltd. (NASDAQ: GRMN) announced that it has completed the acquisition of Electronica Trepat S.A., the principal distributor of Garmin’s products in Spain. Garmin will rename the firm Garmin Iberia S.A. and will retain its management, sales, marketing and supporting staff. It will also continue operations at its current headquarters and warehouse facility located close to Barcelona. Financial terms of the proposed transaction were not released. If you think this stock won’t be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on TSO.

After hitting a one-year high of $125.68 in October, the stock has fallen over the past two months. This morning, GRMN opened at $106.36. So far today the stock has hit a low of $102.07 and a high of $106.83. As of 11:15, GRMN is trading at $104.77, down $2.58 (-2.4%). The chart for GRMN looks bearish but improving slightly, while S&P gives the stock a positive 4 STARS (out of 5) buy rating.

Continue reading Garmin (GRMN) completes deal for Spanish distributor

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This entry was posted on Monday, December 3rd, 2007 at 6:43 pm and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.