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We recently compiled a list of the Weak Earnings, Outlook Drag Shares of These 10 Firms on Thursday. In this article, we are going to take a look at where Cognex Corporation (NASDAQ:CGNX) stands against the other stocks.
The stock market finished firmer on Thursday, as investors cheered fresh inflation data and tariff updates that helped alleviate concerns about inflationary pressures and global trade tensions.
The Dow Jones rose by 0.77 percent, the S&P 500 increased 1.04 percent, while the Nasdaq jumped 1.50 percent.
Despite overall market gains, ten companies managed to register declines, mostly due to disappointing earnings performance, a weaker outlook, and downgraded ratings.
To come up with Thursday’s top losers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A worker utilizing a vision sensor to verify discrete items.
Cognex Corporation (NASDAQ:CGNX)
Cognex Corporation (NASDAQ:CGNX) fell by 13.58 percent on Thursday to end at $33.92 apiece as investors sold off positions after disappointing earnings performance last year.
In a statement, Cognex Corporation (NASDAQ:CGNX) said full-year net income declined by 6 percent to $106 million from $113 million, despite an impressive 152-percent jump in net income for the fourth quarter alone, to $28.3 million from $11.2 million year-on-year.
For the first quarter of 2025, Cognex Corporation (NASDAQ:CGNX) expects revenues to settle between $200 million and $220 million, flat from the same period in 2024, on the back of expected growth in logistics and semiconductors, offset by weaker automotive and a $5-million foreign exchange headwind.
Cognex Corporation (NASDAQ:CGNX) is a US-based company manufacturing machine vision systems, software, and sensors used in automated manufacturing to inspect and identify parts, detect defects, verify product assembly, and guide assembly robots.
Overall CGNX ranks 5th on our list of Thursday's top losers. While we acknowledge the potential of CGNX as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than CGNX but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.