Rise of the Machines, continued - W.C. Varones

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9.27.2010

Rise of the Machines, continued

Here we go again. Why would you hire people and take on huge payroll taxes, unemployment insurance, and ObamaCare liabilities, when you can automate or outsource instead?

Man:
Morgan Stanley Institutes Investment Banking Hiring Freeze With More Fun Possibly To Come

According to Charlie Gasparino, “there will be fairly significant cuts” if “the fourth quarter mirrors the third quarter.”


vs. machine:
Cognex Corp. (CGNX) raised its third-quarter revenue guidance on stronger-than-expected demand from the factory automation market, which provided more than two-thirds of its business in the previous quarter.

Shares jumped 11% to $25.38 in after-hours trading. The stock was up 29% this year as of the close.

The vision-sensor maker now expects record revenue between $74 million and $76 million, up from its August forecast of $65 million to $68 million.


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