Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of geographic positioning expert Trimble Navigation
So what: Trimble's second-quarter report looked terrific with 22% year-over-year revenue growth and dramatically higher earnings, at the same time as archrival Garmin
Now what: This Garmin-Trimble dynamic is the exact opposite of the action three months ago, when Garmin beat expectations and Trimble fell short. In this age of universal GPS and navigation systems on every tablet and smartphone, you'd expect this industry to suffer. Then again, both companies -- and Trimble, in particular -- rake in plenty of cash from end markets where an iPhone or Android phone just won't do, like heavy construction projects and aerospace navigation. Underdog TeleNav
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