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Fly News Breaks for December 2, 2019
BRKS
Dec 2, 2019 | 09:47 EDT
Citi analyst Amanda Scarnati expects that Brooks Automation shares will trade down today on news that the company is delaying its 10-K filing due to reviews of timing of revenue recognition and the findings of a material weakness in internal controls in its life sciences business. The analyst noted that Brooks' management previously said it was making a more through review of that business, stating that it is unclear at this point if execution issues in life sciences and the weakness in controls are related. Scarnati keeps a Neutral rating on Brooks Automation shares, which are down about 5% to $42.54 in early trading.
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