TomTom Falls 11% on ‘Broadly Flat’ Earnings Forecast
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TomTom NV, Europe’s biggest maker of portable navigation devices, fell the most since Oct. 2009 in Amsterdam trading as the company forecast “broadly flat” revenue and earnings per share for 2011.
Amsterdam-based TomTom dropped 11 percent to 6.47 euros, giving the company a market value of 1.4 billion euros ($1.9 billion).