Shares of Thermo Fisher Scientific Inc. /zigman2/quotes/201150432/composite TMO +0.99% rallied 2.8% in premarket trading Monday, after the provider of analytical instruments and services for research and diagnostics provided an upbeat update to first-quarter sales. The comany said it expects revenue growth to be in the range of 1% to 2% from a year ago, while the FactSet revenue consensus of $6.14 billion implies a rise of just 0.2%. The outlook includes the "significant reduction" the company said it saw in customer activity in late March as a result of the COVID-19 pandemic. The company said it was unable to reasonably estimate its 2020 financial performance given the uncertainty of the scope, duration and impact of the pandemic. The stock has lost 13.1% year to date through Friday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.60% has declined 23.0%.