Movement Alert|Thermo Fisher Scientific Falls 3.63% in Pre-Market Trading, Shares Weaken Despite Third-Quarter Earnings Beat

Market Focus
Oct 21

On October 21, Thermo Fisher Scientific fell 3.63% in Pre-Market Trading, trading at $662.5, with turnover of $4.1942 million.

The move followed the company’s third-quarter results, which came in above market expectations but were met with a weaker immediate share-price reaction.

Thermo Fisher Scientific reported adjusted earnings per share of $6.68 for the quarter, up from $5.79 a year earlier and above the $6.40 consensus estimate. Revenue was $12.137 billion, up from $11.12 billion a year earlier and ahead of the expected $11.946 billion. Recent analyst target-price increases had already lifted expectations, which may help explain why the stock fell even after an earnings beat.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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