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Why Cognex Stock Jumped Today

·2 min read
Why Cognex Stock Jumped Today
In this article:
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Shares of Cognex (NASDAQ: CGNX) have jumped today, up by 10% as of 12:20 p.m. EDT, after the company reported first-quarter earnings. The consensus estimate had called for just $0.08 per share in adjusted profits. The vision tech company, which provides barcode readers and machine-vision systems for automating manufacturing and distribution operations, said it was maintaining a strong financial position of $845 million in cash and no debt.