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Cognex Drops on Warning

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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.