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TheStreet Open House

Navteq Finds Profits in First Quarter

While revenue from Europe, the Middle East, Africa and the Americas rose compared to the same period in 2007, Asia Pacific revenue declined 43% from the first quarter of 2007.

The company's in-dash map units rose 16% from a year ago, despite poor automobile sales, while portable map devices surged 129% from the first quarter of 2007 with solid growth in Europe. Total map units jumped more than 91% to 6.08 million, but were down nearly 30% sequentially.

Earlier Wednesday, Garmin (GRMN - Get Report) missed analysts first-quarter earnings targets amid the global economic downturn, warning that economic conditions will remain a factor on future growth.

Among other widely held tech and gadget stocks, Google (GOOG) added 2.8%, while Apple (AAPL - Get Report) eased 0.6%. Intel (INTC - Get Report) was lower by 1.6%.

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SYM TRADE IT LAST %CHG
AAPL $126.37 0.00%
GRMN $48.13 0.00%
GOOG $552.03 0.00%
INTC $31.46 0.00%
NOK $7.73 0.00%

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DOW 17,976.31 +263.65 1.49%
S&P 500 2,086.24 +25.22 1.22%
NASDAQ 4,947.4410 +56.2220 1.15%

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