Brooks Automation Shares Popped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of industrial automation expert Brooks Automation (NAS: BRKS) jumped as high as 14.5% in early morning action, but the boost didn't last. Brooks has retreated to a less impressive 2.8% gain as of this writing, all on above-average trading volume.
So what: Last night's third-quarter report matched analyst estimates. Two firms upgraded the stock, citing improved performance and a belief that stock prices were hitting rock bottom and due for a bounce.
Now what: Of course, the market threw ice-cold water on those optimistic assessments with another batch of macroeconomic fears. And on a day where the largest overnight drop come from semiconductor maker Brocade Communications Systems (NAS: BRCD) , chip-building equipment doesn't look like a hot commodity. Brooks serves that market and suffers accordingly, but it still managed to hold on to a small gain, thanks to those cheerful analyst comments.
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At the time this article was published Fool contributor Anders Bylund holds no position in any of the companies discussed here. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool is investors writing for investors.
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