Cobra has been turning a lot of heads this week, as reports of increased second quarter earnings reached investors everywhere. Recorded net income was $1.7 million, an amazing turn-around from last year’s second quarter loss of $434,000.

The unique focus of its subsidiaries, StarTrak Systems and Alanco/TSI PRISM, contributed to the company’s positive fourth-quarter financial results. Alanco posted unaudited sales revenues for the period ended June 30, 2008, at $4.7 million, up 40 percent from the same period last year.

GPS Industries has been looking to expand their business beyond the golf business. On June 27,2008, the company announced a $4.9 million expansion of the contract GPS already had with Leisurecorp LLC. Leisrecorp is part of Dubai World, the huge finance and holding company based in Dubai.

GTX Corp. (OTCBB: GTXO) announced the integration of Google Maps API Premier into the tracking platform of the gpVector Personal Location Service (PLS) technology. The PLS system is the size of a matchbook, equipped with a location-reporting module that utilizes GTX’s tracking technology, delivering real-time geographic coordinates via Google Maps, through cellular transmission.

The launch of the iPhone 3G today with its new GPS got me thinking about how important the trend in location targeting is and how much room there is to grow. Here are my favorite stocks to take advantage of the trend in GPS and location targeting.

Israel based CellGuide, designer and manufacturer of integrated GPS chips for mobile devices, has completed a second round of $8 million