Stock News - (NYSE:ROK) Profit Reduces 77% by Penny Stock Pick Report

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Rockwell Automation (NYSE:ROK) rose 1.50% to $43.92 after it said its earnings fell to $28.9 million, or 20 cents a share, from $125.6 million, or 87 cents a share, in the year-ago period. On an adjusted basis, the Milwaukee-based company said it earned 37 cents a share versus $1.08 a share last year.

Analysts polled by FactSet Research were looking for recent quarter earnings of 28 cents a share a share, on average.

For fiscal 2010, Rockwell Automation forecast earnings in the range of $1.25 to $1.75 a share. Wall Street expects $1.55 a share.

"It appears we have reached the bottom of the cycle," Nosbusch said in a statement. "In this uncertain economic environment, I cannot predict the shape of the recovery, but I do not expect a sharp upturn."