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Stock Alert: Agilent Technologies Rises On Quarterly Results

Shares of Agilent Technologies, Inc. (A) are climbing more than 6% Friday on upbeat second-quarter results.

The company provides analytical instruments, software, services, and consumables for the entire laboratory workflow.

The company's second-quarter adjusted earnings of $0.71 per share beat the consensus estimate polled by Thomson Reuters at $0.61 per share.

Revenue was $1.24 billion, flat compared with last year, and beat the estimates of $1.21 billion.

The company is supporting several aspects of COVID-19 research and testing along with therapeutic and vaccine development.

The company's China business has recovered faster than expected and it expects the China growth recovery to continue throughout the year, as lab operations and investment continue to resume.

"Agilent is supporting several aspects of COVID-19 research and testing along with therapeutic and vaccine development. In Q2, this resulted in a one-point tailwind of growth, primarily in providing the instrumentation. There is potential that this will become a more meaningful tailwind in future quarters," commented Mike McMullen, President, and Chief Executive Officer while talking to analysts during the conference call.

Agilent stock is currently trading at $85.95 and has traded in the range of $61.13- $90.64 in the last 52-weeks.

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