Thermo Fisher rises after quarterly profit beat

Shares of medical equipment maker Thermo Fisher TMO.N rise 2.1% to $443.99

TMO posts Q1 adj. profit of $5.15 per share, beating analysts' estimate of $5.10 per share, according to data compiled by LSEG

Company reports Q1 revenue of $10.36 billion vs estimate of $10.23 billion

Co also estimates a $400 million impact during the year on sales for its products in China that are produced by facilities in the U.S.

TMO plans to mitigate the U.S.-China tariff hit through an increase in U.S. manufacturing investments by about $2 billion, supply chain changes, and "pricing actions"

As of last close, TMO has fallen 16.4% YTD