What's wrong with this picture? Sensormatic Electronics Corp. dominates the market for antitheft systems in retail stores. Rebounding from a slump that began a few years ago, the Boca Raton, Fla.-based company should report 40 cents a share in earnings in the current fiscal year and 70 cents in the next. But the stock languishes at $8.63, well below book value. What's poisoning this stock? Quack science, propagated by short-selling sharks, sloppy journalists and Sensormatic's shrewd archrival, Checkpoint Systems, Inc. Scary newspaper stories have warned that electronic antitheft systems may interfere with pacemakers and defibrillators in 1.1 million Americans. It ain't so.
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