In his first "Executive Decision" segment on election night, Jim Cramer spoke with Marc Casper, chairman, president and CEO of Thermo Fisher Scientific (TMO) , the life sciences company which just posted a $1.30 earnings beat.
Casper credited Thermo Fisher's employees for their strong performance this quarter. He said they were able to repurpose their PCR testing machine for Covid-19 in record time, ramping production of test kits from zero to 20 million tests per week.
PCR testing is the gold standard of testing, Casper said, and Thermo Fisher continues to make strides in areas like pool testing to help deliver reliable results even faster with an incredibly automated process.
Let's check out the charts. We have not checked in on TMO since March 17 when we wrote that, "I would be looking for TMO to find some buying interest in the $270-$260 area in the short run. News about the company's testing could mean that investors turn from sellers to buyers." As things turned out, TMO did bottom in the $270-$260 and prices took off to the upside.