Thermo Fisher's Stock Falls 1.22% as $690M Volume Ranks 150th Amid Strategic Shifts and Workforce Cuts

Thermo Fisher Scientific (TMO) closed on September 10, 2025, with a 1.22% decline, trading at $318.45 per share. The stock recorded a trading volume of $690 million, ranking 150th in market activity that day. The movement followed a series of strategic and operational updates from the life sciences giant.

Recent developments highlighted include the expansion of its biopharma manufacturing partnerships, with three undisclosed clients securing long-term supply agreements. Analysts noted the contracts could contribute up to $200 million in incremental annual revenue but emphasized that execution risks remain tied to regulatory approvals. Additionally, the company announced a $150 million investment in AI-driven diagnostics research, signaling a strategic pivot toward digital health solutions.

Operational adjustments also influenced market sentiment. Thermo unveiled a workforce restructuring plan affecting 4% of its global workforce, primarily in administrative roles, to streamline operations. While the move aligns with cost-cutting initiatives, the timing coincided with investor concerns over near-term earnings guidance, which remained unchanged despite rising input costs.

To run this back-test properly we need to pull every U.S. listed common share, rank them each day by trading-volume, create an equal-weight basket of the top 500 names, hold it for one trading day, then liquidate and repeat from 2022-01-03 through 2025-09-10. Before I start the data pulls, may I confirm the following operational assumptions so the test matches your intent? 1. Universe • All active and delisted U.S. common stocks on NYSE, NASDAQ and NYSE Arca/AMEX (ETFs, ADRs, preferreds and OTC names will be excluded). 2. Execution prices • Entry = today’s official close (after the full-day volume is known). • Exit = tomorrow’s official close (holding period = 1 trading day). 3. Portfolio construction • 500 stocks, equal dollar-weight each day (no turnover/transaction-cost model unless you specify one). 4. Output you’d like to see • Daily strategy return series • Cumulative performance curve vs. SPY benchmark • Basic statistics (CAGR, annual volatility, Sharpe, max drawdown, win-rate). If any of these items should be different—e.g. use the next day’s open as the entry price, include ETFs, apply commissions, etc.—let me know now. Otherwise I’ll proceed with the data retrieval and calculation.