Khadija Saeed

Shares of Thermo Fisher Scientific Inc fell 2.6% to close at $592.16 on Thursday, dropping more than Danaher, which was down 2.3%, and Agilent, down 0.4%. The decline came after the company forecast 2026 profits below Wall Street expectations and flagged challenges from cuts to U.S. academic research funding. Thermo Fisher projected adjusted 2026 earnings between $24.22 and $24.80 per share, and revenue of $46.3 billion to $47.2 billion, compared with LSEG consensus estimates of $24.61 and $46.54 billion. CEO Marc Casper said the firm expects “similar conditions to last year” for academic and government clients. Bernstein analysts described the company’s 1% to 2% growth forecast for the first quarter as “soft.”