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Fly News Breaks for October 21, 2016
SBGSY, ROK
Oct 21, 2016 | 14:43 EDT
Stifel analyst Robert McCarthy believes it is "highly unlikely" that Schneider Electric (SBGSY) will buy Rockwell Automation (ROK), as the company's are rumored to have discussed according to Street Insider, and he recommends fading today's move higher in Rockwell shares. The analyst, who keeps a Hold rating on Rockwell, cites the fact that its CEO has been in his post for less than 6 months, that its fundamentals are "peakish" and that the amount cited in the report is "clearly insufficient" as reasons for his skepticism.
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