This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Why Bruker Corporation (BRKR) Crumbled Today

NEW YORK (TheStreet) -- Bruker Corporation (BRKR - Get Report) tumbled Friday after missing estimates on its top and bottom line. Shares plunged 15.2% once markets opened, recouping half its losses mid-morning before closing 6% lower to $19.23.

The medical technology company reported third-quarter earnings of 20 cents a share, 2 cents lower than analysts surveyed by Yahoo! Finance had expected. Revenue of $439 million, 2% lower than a year earlier, also missed estimates by $13.4 million.

"With continued weakness in industrial markets, our updated view is that the fourth quarter of 2013 will not be as strong as we originally expected and, as a result, we are taking additional near-term actions to reduce our headcount and lower our expense base," said CEO Frank Laukien in a statement.

The company announced plans to cut 150 positions, outsource a number of non-core manufacturing activities and close three manufacturing facilities by the end of the fourth quarter. These cost-reduction strategies will generate $15 to $20 million in savings over 2014, upgraded from a previous forecast of $10 million in savings.

Must Read: Why Western Digital (WDC) Dipped Lower Friday

The Massachusetts-based manufacturer said it expects the fourth quarter to be weaker than the same period a year ago, but more profitable sequentially. Full-year revenue is expected to decrease 1% compared to full-year 2012, with earnings between 72 cents a share and 76 cents a share compared to the previous range of 80 cents to 83 cents.

TheStreet Ratings team rates Bruker Corp as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate Bruker Corp (BRKR) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income, solid stock price performance, growth in earnings per share and expanding profit margins. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
BRKR $28.48 0.00%
AAPL $95.03 0.21%
FB $116.73 0.00%
GOOG $691.02 0.00%
TSLA $247.54 -0.07%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs