Bulletin
Investor Alert

Market Pulse Archives

April 6, 2020, 8:48 a.m. EDT

Thermo Fisher provides upbeat first-quarter revenue growth outlook, stock rallies

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Thermo Fisher Scientific Inc. (TMO)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

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%.

/zigman2/quotes/201150432/composite
US : U.S.: NYSE
$ 422.29
+4.15 +0.99%
Volume: 1.11M
Sept. 25, 2020 4:00p
P/E Ratio
45.66
Dividend Yield
0.21%
Market Cap
$167.05 billion
Rev. per Employee
$347,971
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,298.46
+51.87 +1.60%
Volume: 0.00
Sept. 25, 2020 5:06p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.