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Thursday, November 12, 2015

TomTom winning streak continues with Uber deal, (NYSE: MS)

Dutch navigation company TomTom announced on Thursday a multi-year contract to provide Uber with digital maps and traffic data for the software used by its drivers.It is the latest in a series of deals for the Dutch company, which also signed agreements this year to provide maps for Volkswagen and renew a contract to supply maps for Apple's built-in iPhone navigation app.TomTom CEO Harold Goddijn said Uber had chosen the Dutch company because the ride-hailing app company wanted to have "total control" over its own products. "What they (Uber) get from us is total control of their application," Goddijn said at the Morgan Stanley TMT conference in Barcelona. Financial terms of the Uber deal were not disclosed.

Morgan Stanley is a financial holding company. Through its subsidiaries and affiliates, the Company provides a variety of products and financial services to a group of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS fell by 1.17% or $-0.41/share to $34.61. In the past year, the shares have traded as low as $30.15 and as high as $41.04. On average, 13780300 shares of MS exchange hands on a given day and today's volume is recorded at 3982338.