The Bot Brief

"There is no force on earth more powerful than an idea whose time has come."     

- Victor Hugo

Bots in the News:

The recovery from the prior week’s dramatic market downturn proved fairly weak in this week’s trading. The Bot Index fell 1.74% while the S & P 500 was virtually flat. The weakness among the bots was confined to several low-priced stocks whose percentages carried a disproportionate impact on the Index.

The most significant loss was felt by iRobot whose decline of nearly 25% was due to missed revenue and earnings in the second quarter. Just when the company seemed to rise from the ashes of its proposed merger with Amazon, revenues fell 30% and earnings were a negative $2.41. The stock closed at $7.37, down from the prior Friday’s valuation of $9.66.

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Other weakness included a 20% decline in 3D Systems, a 5.12% slide by Immersion Corp. and NIO’s 4.44% drop.

Strength was noted by OMRON Corp., a Japanese company that rebounded following the disastrous fall in the Nikkei. The stock jumped 8.15%.

The drone-defense manufacturer AeroVironment Corp. gained 5.72% as the temperature in the Middle East continued to heat up. And the medicine and manufacturing technology provider Novanta reported Q2  results exceeding Wall Street analysts' expectations, with revenue up 2.8% year on year to $235.9 million. It made a GAAP profit of $0.38 per share, down from its profit of $0.58 per share in the same quarter last year but above expectations.