News Formal

Here's why Abbott Labs stock is getting dinged after a strong earnings beat

  • 📰 CNBC
  • ⏱ Reading Time:
  • 20 sec. here
  • 10 min. at publisher
  • 📊 Quality Score:
  • News: 39%
  • Publisher: 72%

Abbott Laboratories News

Edwards Lifesciences Corp,Dexcom Inc,Breaking News: Markets

Shares are even more attractive when we consider the company's pipeline.

Abbott Labs delivered a second-quarter earnings beat on Thursday, but the company's ongoing litigation over its baby formula — plus softer guidance for the current quarter — is dragging down shares. We view the pullback as an opportunity. Revenue for the three months ended June 30 rose 4% year over year to $10.38 billion, slightly ahead of expectations, according to LSEG. On an organic basis, sales were up 9.3% versus the year-ago period , also ahead of expectations.

Abbott Chairman of the Board and CEO Robert B. Ford delivers a keynote address at CES 2022 at The Venetian Las Vegas on January 6, 2022 in Las Vegas, Nevada.delivered a second-quarter earnings beat on Thursday, but the company's ongoing litigation over its baby formula — plus softer guidance for the current quarter — is dragging down shares. We view the pullback as an opportunity.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

10 things to watch in the stock market Monday including a defense of Abbott LabsWall Street is looking to kick off the third quarter on a higher note.
Source: CNBC - 🏆 12. / 72 Read more »

Stock market today: With US markets closed, Asian shares slip and European shares gainShares are mostly lower in Asia after strong gains in Europe, while U.S. markets were closed for the July 4th holiday. Japan's benchmark Nikkei 225 topped 41,000 early Friday, gaining 0.3% and adding to Thursday's record close. U.S. futures edged higher and oil prices fell. On Wednesday, the S&P 500 rose 0.
Source: AP - 🏆 728. / 51 Read more »

Stock market today: With US markets closed, Asian shares slip and European shares gainShares are mostly lower in Asia after strong gains in Europe, while U.S. markets were closed for the July 4th holiday.
Source: wjxt4 - 🏆 246. / 63 Read more »

Stock market today: With US markets closed, Asian shares slip and European shares gainShares are mostly lower in Asia after strong gains in Europe, while U.S. markets were closed for the July 4th holiday.
Source: ksatnews - 🏆 442. / 53 Read more »