Diamonds and Dogs
Thermo Fisher (TMO) raises guidance. The biotech and medical product maker is up 4% to new highs after raising guidance at an analyst meeting. Thermo now sees better earnings for the full year and core organic revenue growth of +7-9% and earnings growth in the mid-teens.
Commodities take a hit. US Steel (X) is down 7% even though the company is expecting record profits in the current quarter. The company has reduced their debt by $2.7 billion so far this year and US Steel unveiled plans to build a new $3 billion mill ready to produce steel by 2024.
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