Thermo Fisher Scientific Non-GAAP EPS of $6.03 beats by $0.32, revenue of $11.99B beats by $290M
Thermo Fisher Scientific reported an earnings surprise, exceeding market expectations. The Non-GAAP EPS was $6.03, which was $0.32 higher than expected, and revenue also showed solid growth at $11.99B, surpassing expectations by $290M.
The stock has shown strong upward momentum following the earnings announcement. The closing price on August 7 reached $586.79, marking the highest level in recent days, and it has been consistently raising its lows since the low of $562.5 on August 4, forming an upward trend that warrants consideration for entry.
If the stock price continues to rise and reaches $540.0, I will take profits, and conversely, if it falls and reaches $515.0, I will cut losses. This price range is based on the values derived from REPORTING.
We accurately predicted the upward direction of the stock price due to positive earnings news. The forecasted return was conservatively set at 1.5%, but in reality, it achieved a return of 11.5%, significantly exceeding our expectations.
We have observed that strong momentum immediately following earnings announcements can push stock prices significantly higher than expected. In the upcoming earnings announcement season, we will consider volatility, but if the trend is clear, we will review a strategy to adopt a slightly more flexible approach to profit ranges.