Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of industrial automation expert Brooks Automation (Nasdaq: BRKS) jumped as high as 14.5% in early morning action, but the boost didn't last. Brooks has retreated to a less impressive 2.8% gain as of this writing, all on above-average trading volume.

So what: Last night's third-quarter report matched analyst estimates. Two firms upgraded the stock, citing improved performance and a belief that stock prices were hitting rock bottom and due for a bounce.

Now what: Of course, the market threw ice-cold water on those optimistic assessments with another batch of macroeconomic fears. And on a day where the largest overnight drop come from semiconductor maker Brocade Communications Systems (Nasdaq: BRCD), chip-building equipment doesn't look like a hot commodity. Brooks serves that market and suffers accordingly, but it still managed to hold on to a small gain, thanks to those cheerful analyst comments.

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