Why Cognex Stock Fell Hard Today
Shares of Cognex (NASDAQ: CGNX), a maker of machine-vision systems used to automate manufacturing processes, were tumbling today after the company reported worse-than-expected fourth-quarter results and issued lackluster first-quarter guidance.
The stock was down by 14.3% as of 11:50 a.m. ET.
Cognex reported non-GAAP (generally accepted accounting principles) adjusted earnings of $0.27 for the fourth quarter, which was down from $0.30 in the year-ago quarter and below analysts' consensus estimate of $0.32 per share.
Source Fool.com
