Latest news with #ThermoFisher
Bloomberg
7 hours ago
- Business
- Bloomberg
Stock Movers: Meme Stocks, Thermo Fisher, Chipotle
On this edition of Stock Movers: - Meme stock mania is spreading to a growing number of speculative stocks, underscoring the appetite among retail traders for riskier bets even with the market at all-time highs. Chatter across social media platforms first fixed on Opendoor Technologies Inc. (OPEN) but has since expanded to other heavily discounted names like Kohl's Corp. (KSS), GoPro Inc. (GPRO) and Krispy Kreme Inc. (DNUT), sending them all flying to eye-popping rallies. While the number of stocks being drawn into the frenzy is growing, the rallies have been volatile and often short lived, raising questions about whether the companies will be able to take advantage of their elevated share prices to raise fresh capital, the way that AMC Entertainment Holdings Inc. (AMC) and GameStop Corp. (GME) did during the original meme stock craze of 2021. Krispy Kreme, for example, rose as much as 39% when the market opened Wednesday, but closed just 4.6% higher. - Thermo Fisher (TMO) shares jumped after the company raised its full year outlook as it no longer expects tariffs to bite as much as when it issued the forecast. "The US-China tariff situation has improved significantly versus our prior guidance assumptions,' Chief Financial Officer Stephen Williamson said during a call with analysts. 'We reflected the Q2 benefit of that in our revised guidance. "Sales will be $43.6 billion to $44.2 billion this year, up $120 million from its previous view, Williamson said during a conference call. Analysts had expected $43.7 billion. The company also raised its profit view by 23 cents at the mid-point of its new target range. - Chipotle Mexican Grill (CMG) shares tumbled after the restaurant chain cut its annual outlook for the second time this year, suggesting that honey chicken and burrito giveaways haven't been enough to offset a traffic slump. Chipotle now expects sales at established restaurants to be about flat for the full year, the company said Wednesday. It previously forecast the metric would expand by a low-single digit. Chipotle had already cut its annual guidance earlier this year after economic uncertainty, among other factors, dinged results. The Mexican-inspired chain has deployed everything from a limited-time launch of honey chicken to an adobo ranch sauce and free food to reel customers in. But transactions still slumped, driving a comparable sales decline of 4% in the quarter, which was a steeper decline than analysts were expecting.
Reuters
13 hours ago
- Business
- Reuters
Thermo Fisher flags improving tariff situation, raises annual profit view
July 23 (Reuters) - Thermo Fisher (TMO.N), opens new tab said on Wednesday the tariff situation was improving and raised the lower end of its annual profit forecast on strong demand for its products used in drug development, sending the company's shares up 12%. As some of the trade tensions show signs of easing, peers such as Danaher (DHR.N), opens new tab have also cited a steady demand from pharmaceutical clients. "The US-China tariff situation has improved significantly versus our prior guidance assumptions," said Thermo Fisher CFO Stephen Williamson in a post earnings call. The medical equipment maker now expects the lower end of annual adjusted profit at $22.22 per share, compared to its previous estimate of $21.76. It maintained the higher end of the forecast at $22.84 per share. The change to its forecast accounts for an increase of $120 million in revenues than previously expected as well as the second-quarter beat, the company said. Thermo Fisher, however, said given the fluidity of the tariff and trade policy environment, it was keeping its assumptions for any impact in the second half unchanged. "Should global tariffs remain as they are today, we'll likely have upside for new guidance," Williamson added. The company reported quarterly profit above Wall Street expectations, helped by strong sales in its laboratory products segment of $6 billion. Analysts were expecting segment sales of $5.79 billion, as per data compiled by LSEG. On an adjusted basis, it reported a profit of $5.36 per share for the quarter ended June 28, beating analysts' estimate of $5.22 per share. Thermo Fisher also announced that CFO Williamson has decided to retire, effective March 31, 2026, and named insider Jim Meyer as his successor.
Reuters
15 hours ago
- Business
- Reuters
Thermo Fisher raises annual profit forecast on resilient demand for its tools and services
July 23 (Reuters) - Thermo Fisher (TMO.N), opens new tab on Wednesday raised the lower end of its annual profit forecast, banking on strong demand for its tools and services used in drug development and said the tariff situation was improving. Shares of the company were up 10% in early trading. As some of the trade tensions show signs of easing, peers such as Danaher (DHR.N), opens new tab have also cited a steady demand from pharmaceutical clients. "The US-China tariff situation has improved significantly versus our prior guidance assumptions," said Chief Financial Officer Stephen Williamson in a post earnings call. The medical equipment maker now expects annual adjusted profit of $22.22 to $22.84 per share, compared to its previous estimate of $21.76 and $22.84 per share. Analysts on average were expecting $22.32 per share. The company also beat quarterly profit estimates, helped by strong sales in its laboratory products segment. Danaher (DHR.N), opens new tab on Tuesday raised its annual profit forecast citing strong demand for tools and services used to make vaccines and therapies, and said it is seeing a robust number of clinical trials and therapies under development. On an adjusted basis, Thermo Fisher reported a profit of $5.36 per share for the quarter ended June 28, beating analysts' estimate of $5.22 per share, as per data compiled by LSEG. The company said its business strategy is helping adjust its supply chains in the tariff environment and to actively manage its cost base. Thermo Fisher also announced that CFO Williamson has decided to retire, effective March 31, 2026, and named Jim Meyer, currently vice president of financial operations, as Williamson's successor to the role. The Waltham Massachusetts-based company's quarterly revenue rose 3% to $10.85 billion, compared to analyst estimates of $10.68 billion. Sales at its laboratory products segment, which makes up more than half of Thermo Fisher's total sales came in at $6 billion, above estimates of $5.79 billion.
Business Wire
16 hours ago
- Business
- Business Wire
Thermo Fisher Scientific's Chief Financial Officer, Stephen Williamson, to Retire in Early 2026
WALTHAM, Mass.--(BUSINESS WIRE)--Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, today announced that Stephen Williamson, senior vice president and chief financial officer (CFO), has decided to retire from the company, effective March 31, 2026. The company's board of directors has approved the appointment of Jim Meyer, currently vice president of financial operations, to succeed Williamson as CFO, effective March 1, 2026. Williamson, age 58, has led Thermo Fisher's global finance organization as CFO since 2015. He joined the company in 2001 as Vice President, European Financial Operations. To ensure a seamless transition, Williamson and Meyer will work closely together over the coming months. Williamson will remain an active member of the Company Leadership Team until his retirement in March 2026. 'Stephen has played a key role in building the company into the industry leader we are today. He has overseen tremendous growth of the company with our market capitalization increasing nearly 300 percent during his tenure as CFO,' said Marc N. Casper, chairman, president and chief executive officer. 'I've worked closely with Stephen for nearly 25 years and have deeply valued his support, guidance and leadership. I wish him the very best in his upcoming retirement.' Casper added, 'As part of our long-planned succession process, we sought a leader with strong financial expertise and deep company knowledge, and Jim is exceptionally well qualified to take on this role. As a member of our Company Leadership Team, Jim has built strong relationships with leaders across the company. I've worked closely with Jim over the past few years and look forward to continuing our partnership as he steps into his new role.' Meyer, age 46, joined Thermo Fisher in 2009 and held a number of finance leadership positions of increasing responsibility within the Laboratory Products, Analytical Instruments and Customer Channels businesses. In January 2023, he became vice president of financial operations, overseeing the finance support for all of the operating businesses within the company. Before joining Thermo Fisher, Jim worked for PricewaterhouseCoopers. About Thermo Fisher Scientific Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue over $40 billion. Our Mission is to enable our customers to make the world healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analytical challenges, increasing productivity in their laboratories, improving patient health through diagnostics or the development and manufacture of life-changing therapies, we are here to support them. Our global team delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon and PPD. For more information, please visit
CTV News
17 hours ago
- Business
- CTV News
Thermo Fisher beats quarterly estimates on resilient demand for its tools and services
Sales at its laboratory products segment, which makes up more than half of Thermo Fisher's total sales came in at US$6 billion, above estimates of $5.79 billion.
