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Waters Shares Tumble on Scaled-Back Q3 Earnings Outlook

Waters shares closed down nearly 13 percent for the trading week ended Tuesday after the company lowered its earnings projections for the third quarter, citing "slower than expected" sales growth. The company, which originally anticipated 8 percent year-over-year growth for the third quarter, said last Friday that it now expects only 3 percent year-over-year growth for the period (see story this issue). The company's shares fell 11.6 percent that day and never recovered.

Qiagen was the only other firm in the 16-company BCW Index whose shares moved more than 5 percent for the tracking period, closing down 8.3 percent.

Overall, the BCW Index fell 1.06 percent for the week, while the Nasdaq Biotech Index rose 0.76 percent, the Nasdaq declined 0.25 percent, and the Dow Jones Industrial Average closed the period down 0.31 percent.

 

BioCommerce Week Index of
Diversified Molecular Biology Tool Companies
Company
Ticker
Current Price
(
Oct. 18 , 2005)
Last Price
(
Oct. 11, 2005)
% Change
Agilent
A
30.65
31.03
-1.22
Applied Biosystems
ABI
22.73
22.91
-0.79
Beckman
BEC
49.14
49.54
-0.81
Bio-Rad
BIO
54.00
53.60
0.75
Bruker
BRKR
4.47
4.37
2.29
Fisher Scientific
FSH
59.08
58.26
1.41
GE
GE
34.00
33.80
0.59
Harvard Bio
HBIO
3.04
3.04
0.00
Invitrogen
IVGN
71.98
70.71
1.80
Molecular Devices
MDCC
19.63
19.97
-1.70
PerkinElmer
PKI
20.94
21.08
-0.66
Qiagen
QGEN
12.04
13.13
-8.30
Sigma
SIAL
61.31
62.04
-1.18
Stratagene
STGN
9.25
9.46
-2.22
Thermo
TMO
30.25
29.86
1.31
Waters
WAT
36.00
41.25
-12.73
BCW Index Average  
32.41
32.75
-1.06
The Scan

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