Skip to main content
Premium Trial:

Request an Annual Quote

PerkinElmer Stock Climbs 7.4 Percent on Divestiture Announcement

NEW YORK, Oct. 7 (GenomeWeb News) - Shares in PerkinElmer were up 7.37 percent, or $.1.52, at $22.15 in mid-afternoon trading after the company said yesterday it is selling its aerospace, semiconductor, and fluid-testing businesses.


As GenomeWeb News reported this morning, the company said the divestitures are part of its strategy to shift its focus on the health sciences and photonic markets.


PE will sell its aerospace business to Eaton for approximately $333 million, and is in discussions to sell its semiconductor and fluid testing businesses by the end of the year. The company said it expects to gain approximately $400 million from the sale of the Fluid Sciences business alone.


The proceeds from the sales "will help us build our growth platforms, with particular emphasis on genetic screening, medical imaging, molecular medicine, and service," PE chairman and CEO Gregory Summe said in a company statement.


Separately today, investment bank R.W. Baird upgraded PerkinElmer to "outperform" from "neutral."

The Scan

Two J&J Doses

Johnson & Johnson says two doses of its SARS-CoV-2 vaccine provides increased protection against symptomatic COVID-19, CNN reports.

Pfizer-BioNTech Vaccine Response in Kids

The Pfizer-BioNTech SARS-CoV-2 vaccine in a lower-dose format appears to generate an immune response among children, according to the Washington Post.

Chicken Changes to Prevent Disease

The Guardian writes that researchers are looking at gene editing chickens to help prevent future pandemics.

PNAS Papers on Siberian Dog Ancestry, Insect Reproduction, Hippocampal Neurogenesis

In PNAS this week: ancestry and admixture among Siberian dogs, hormone role in fruit fly reproduction, and more.