An ugly earnings report from a competitor is good news for Abbott Labs

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Friday's key moments. Stocks jumped Friday as Wall Street tried to end a turbulent week on a jubilant note. The Dow Jones Industrial Average added more more than 600 points, or 1.6%. The S & P 500 and Nasdaq Composite added 1% and 0.75%, respectively.

Whatever the case, the company said it lost some market share. And Abbott may have picked up that lost ground, which is further evidence that its business fundamentals are strong despite the ongoing infant formula legal overhang. Shares of Abbott added 0.75% Friday. Club name Dover picked up a few price-target bumps after the industrial conglomerate's strong second-quarter earnings report Thursday morning.

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