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Xylem (XYL) Stock Dropping Despite Q1 Beat

NEW YORK (TheStreet) -- Shares of Xylem (XYL - Get Report) are down by 1.16% to $41.76 on Tuesday morning, even though the Rye Brook, NY-based company reported strong results for the 2016 first quarter.

Before the opening bell, the water technology company reported adjusted earnings of 35 cents per share, exceeding analysts' estimates by a penny.

Revenue came in at $847 million, above Wall Street's expectations of $832.9 million.

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The revenue results reflect strength in the U.S. public...