Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

AG Edwards Downgrades Faro Technologies


AG Edwards downgraded Faro Technologies (FARO).

Analyst Mark Jordan says the company is conducting an internal investigation to determine if the Foreign Corrupt Practices Act was violated. He says it recently learned of "suspicious" payments in connection with foreign sales activities in China. Faro will be delaying filing its 2005 10-K past the deadline of Mar. 15, and it also withdraws 2006 guidance. He's not changing his estimates at this time. Based on current information, he says it is not possible to predict when this will be resolved or what the outcome will be. He believes it prudent to stay on the sidelines for now.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus