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Stock Alert: Flavors & Fragrances Rises 6% On Upbeat Results

Shares of International Flavors & Fragrances Inc. (IFF), that makes flavors and fragrances for use in various consumer products, are rising more than 5% Tuesday after reporting upbeat first-quarter results.

The company is gaining during the coronavirus pandemic as the majority of its revenue comes from packaged food, beverage, and personal care and hygiene products.

Adjusted earnings of $1.62 per share beat the average estimate of analysts polled by Thomson Reuters at $1.59.

Net sales for the quarter increased 4% year-over-year to $1.35 billion. The consensus estimate was at $1.31 billion.

International Flavors & Fragrances stock is currently trading at $140.90. It has traded in the range of 92.14- $152.95 in the last 52 weeks.

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