"Rockwell Automation on Wednesday raised its profit and sales outlook for fiscal 2010, noting a gradual pick-up in global demand for industrial equipment and factory electronics.
"Shares of Rockwell Automation jumped 10% to $50.84.
"The rosier outlook comes as Rockwell Automation /quotes/comstock/13*!rok/quotes/nls/rok (ROK 50.99, +1.05, +2.10%) reported profit fell 35% in the first quarter ended Dec. 31 as sales skidded 10% from the year-earlier period.
"'Our first-quarter performance and continued improvement in the global economy seem to indicate that we are at the early stage of a recovery,' Chief Executive Keith Nosbusch said in a statement."
This is one more indicator that the basic industries served by automation companies are returning to expansion mode, and we can expect continuing good results in the next few months. Should we see large numbers of new job creation? I doubt it. But we will see a decrease of unemployed automation and controls workers. And that's a good thing.