Danaher shares jump 7% as the turnaround in biotech spending finally arrives

Shares of Danaher popped more than 7% on Tuesday after the life sciences company delivered beats across its three main businesses — a sign the long-awaited turnaround in the biotech industry is finally here. Revenue for the period ended March 29 declined 4% organically year over year to nearly $5.8 billion in total sales, outpacing analyst estimates of $5.62 billion, according to LSEG. Total sales on a reported basis dropped nearly 2.6% year-over-year. Adjusted earnings-per-share (EPS) decreased 6.3% annually to $1.92, ahead of the consensus estimate of $1.71 per share,...