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Veralto Corp., formerly part of Danaher Corp., is a global leader in water and product quality. The company is organized into two segments: Water Quality and Product Quality and Innovation. Major brands in the portfolio include the water measurement instruments company Hach; the chemical reagent company ChemTreat; the coding systems companies Videojet and Linx; packaging workflow solutions company Esko; color instrumentation company X-rite and color standards company Pantone. Based in Massachusetts, the company has 16,000 employees.

The major benchmarks were on the upside with the Nasdaq leading the way, up more than 2%, amid a surge in semiconductor stocks. Investors await the 2 pm press release from the Federal Reserve on interest rates.

Landstar System is an agent based asset-light third-party logistics provider focused on domestic truck brokerage (90% of revenue). Historically, around half of its truck transportation freight is hauled by leased owner-operators with the remainder hauled by third-party broker-carriers. To a smaller degree, it offers intermodal, global air and ocean forwarding, and warehousing services. Landstar also runs a small business that offers insurance programs to captive owner-operators. It has a long history of industry-leading execution and operating profitability.

Illinois Tool Works is a diversified global manufacturer that produces specialized industrial equipment, consumables, and related services. The firm operates 84 global divisions through seven distinct operating segments: automotive OEM, construction products, food equipment, specialty products, test/measurement and electronics, polymers and fluids, and welding. About half of its revenue comes from its operations in North America, with the remainder originating from international markets. Europe, the Middle East, and Africa is the next largest contributor at about 25% of revenue. ITW takes a bottom-up and decentralized approach to portfolio management, with the exception that each segment must apply its 80/20 operating process modeled on the Pareto principle.