Agilent Shares Up After 3Q Earnings Top Estimates

NEW YORK (AP) — Shares of Agilent Technologies Inc. jumped Tuesday after the scientific instruments and equipment maker signaled improving demand with its fiscal third-quarter results.

The stock climbed $1.81, or 7.7 percent, to $25.36 in afternoon trading.

Late Monday, Santa Clara, Calif.-based Agilent posted a loss of $19 million, hurt by one-time restructuring costs. But adjusted profit of 15 cents topped the 11 cents expected by analysts surveyed by Thomson Reuters.

Analysts also pointed out it was the first time in more than a year that Agilent posted a "book-to-bill" ratio above 1, meaning the company had more orders than it could deliver.

The company offered an upbeat outlook for the fiscal fourth quarter as well. It expects earnings of 20 cents to 25 cents per share. Analysts expected 20 cents.

C. Anthony Butler, an analyst with Barclays Capital, said the "results are essentially all positive" but kept an "Equal Weight" rating on shares, saying investors have already figured the company's positive outlook into the share price.