UBS reiterates Neutral Rating on Rockwell Automation (ROK)He said, "ROK fiscal 1Q results were about 7% better on a segment operating profit basis. All of this was due to lower decremental margins, as organic growth of negative 8% was in-line with our model. Better cost performance allowed EPS to come in around $1.80 vs. guidance of significantly below $2, which the Street interpreted as mid $1.50 per share. To be sure, the guidance looked very conservative, but recent data points from other automation companies made market participants more neutral to cautious ahead of todays release, so wed expect an outsized positive reaction today. Order trends are also supportive of an improving revenue outlook, with orders up mid-single digits sequentially after being down low single digits sequentially. So, this report seems consistent with a few other diversified industrial companies showing some order momentum (PH, DOV). The fiscal 1Q outperformance makes the walk to full year $9.20 more reasonable, especially if we get some outsized sequential revenue growth (full year organic rev and EPS guidance was unchanged)."