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TomTom Falls as Sales Forecast Misses Estimates: Amsterdam Mover

TomTom NV, Europe’s largest maker of portable navigation devices, declined the most in more than eight months after the company said sales will fall more than analysts estimated.

Sales will drop to a range of 900 million euros ($1.21 billion) to 950 million euros this year, the Dutch company said in a statement today. That would miss the 999.8 million-euro average estimate of 13 analysts and would be the lowest level since 2005, according to data compiled by Bloomberg. TomTom shares dropped as much as 10 percent, the biggest intraday decline since May 30.