Why Waters Stock Is Skyrocketing 12.9% Today

Shares of Waters Corp. (NYSE: WAT) were surging 12.9% at 1:45 p.m. EDT on Wednesday after the company reported preliminary second-quarter revenue that was higher than expected, and news that it's hired a new CEO.

Demand for the healthcare company's life sciences instruments and supplies has fallen because of global COVID-19 shutdowns. In Q1, a 45% drop in China revenue because of COVID-19 restrictions caused global sales to fall 9.5% year over year to $465 million. 

Image source: Getty Images.

Continue reading

Source Fool.com