Agilent Shares Drop 10 Percent After Quarterly Report; Bruker Rises
Agilent Technologies’ share price fell 10 percent for the five-day period ending Tuesday after the company reported its quarterly financials on Thursday.
Agilent closed at $22.95 Tuesday, down from last week’s close of $25.56 to lead four stock-price decliners among the 15 companies listed in the BioCommerce Week Index. Agilent was the last company among the BCW Index companies to report its quarterly earnings. (For details, see page 1).
Bruker BioSciences led 11 companies whose share prices rose on the week, finishing the period at $3.69 a share, a 20-percent increase over last week’s $3.06 close as CEO Frank Laukien promised even more cost-cutting moves before the end of the year. Bruker has already laid off 60 employees in a series of restructuring moves that will save some $6 million a year.
Stratagene’s share price dropped 3 percent after the company was named in a patent infringement suit filed by Applera on Nov. 9. (For details, see page 1.) Stratagene closed at $6.92 for the week, down from $7.11 for the previous week’s period.
General Electric rose 5 percent on the week, while Waters had a 3-percent improvement, followed by Bio-Rad up 2.5 percent, and Harvard Bio up just over 2 percent. Share prices for Beckman Coulter, PerkinElmer, Molecular Devices, and Invitrogen were up a fraction, while Thermo Electron and Sigma Aldrich fell a fraction.
For the week, the BCW Index, which tracks select multiplatform molecular biology tools companies, finished at $33.57, up almost 1 percent over last week’s $33.30, and marking a second straight week of gain.
By comparison, the Amex Biotech Index was down nearly 1.5 percent for the five-day period, while the Amex Pharmaceutical Index was up approximately 1 percent. The Nasdaq Index was up nearly 2 percent on the week while the Dow Jones and S&P 500 indices were up nearly 1 percent, apiece.
— Mo Krochmal ([email protected])