Cognex Drops on Warning
Cognex
(CGNX) - Get Cognex Corporation Report
, a maker of machine vision technology, was down 40.3% in preopen
Island
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trading. Late Monday, the company said it expects earnings of 36 cents a share for the fourth quarter, well below the
First Call/Thomson Financial
estimate of 46 cents. The company blamed an order slowdown from semiconductor and electronics customers.
Robertson Stephens
downgraded the stock to long-term attractive from a buy.
