THE RESULTS: TomTom, Europe’s largest maker of navigation devices, reported a return to profit in the second quarter. But sales fell 17 percent to €262 million.

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A DEAL: Shares in the company surged after it announced a deal with carmaker Peugeot to eventually supply navigation software. It did not give details.

THE BIG PICTURE: Competition from smartphones has been one of the largest reasons for the decline in TomTom’s business in recent years.