Market News

Cognex (NASDAQ:CGNX) Ticks Up on Guidance Raise

Shares of machine vision products provider Cognex (NASDAQ:CGNX) are ticking upwards in the pre-market session today after the company upped its third-quarter guidance.

It now sees revenue landing between $195 million and $205 million versus the previous guidance in the range of $160 million and $180 million.

The raise comes on the back of success in replenishing component inventory that was destroyed in a fire at CGNX’s contract manufacturer.

The company’s Analyst Day is slated for today where it is expected to present the updated estimate of its served market.

CGNX’s third-quarter numbers are anticipated on October 31 and the Street expects it to post an EPS of $0.06. In the year-ago period, it had posted an EPS of $0.44 versus expectations of $0.46.

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