ADVFN - Advanced Financial Network.
HOME» NYSE » A » ABT Stock Price » ABT Stock News

Abbott Labs Share News

 Abbott Laboratories Stock Price
ABT Stock Price
 Abbott Laboratories Stock Chart
ABT Stock Chart
 Abbott Laboratories Stock News
ABT Stock News
 Abbott Laboratories Company Information
ABT Company Information
 Abbott Laboratories Stock Trades
ABT Stock Trades

Abbott Labs 1Q Net Rose 44% On Strong Drug, Nutritional Sales

DOW JONES NEWSWIRES Abbott Laboratories' (ABT) first-quarter earnings rose 44% as strong drug and nutritional sales contributed to improved margins. The health-care company also raised its full-year earnings guidance by 5 cents, now projecting $5 to $5.10 a share. Abbott's diverse portfolio had cushioned it from some of the problems, like patent expirations and generic competition, facing other large drug makers. But its bottom-line performance has been mixed in recent quarters as restructuring and acquisition charges masked revenue growth. The company has been on a buying spree in recent years in order to reduce its dependence on the anti-inflammatory Humira as the drug's U.S. patent expires in late 2016. Abbott also is in the midst of separating its proprietary drug unit and medical products business into two publicly traded companies by the end of this year. Last month, Abbott named its post-spinoff pharmaceutical company AbbVie, in a nod to the new company's origins and purpose. The health-care company said the name is derived from a combination of Abbott and vie, which references the Latin root vi, meaning life. Abbott Labs reported a profit of $1.24 billion, or 78 cents a share, up from $864 million, or 55 cents, a year earlier. Excluding items such as restructuring, acquisition and integration costs, earnings rose to $1.03 a share from 91 cents. Sales jumped 4.6% to $9.46 billion. Analysts polled by Thomson Reuters had most recently forecast earnings of $1 a share on revenue of $9.37 billion. Operating margin rose to 16.7% from 14.4%. Proprietary pharmaceutical sales, the company's biggest segment by revenue, rose 7.1%. Nutritional sales, which include Similac and Ensure, grew 10%. The established products segment, which focuses on generic sales outside the U.S., saw a 1.6% sales decline. Core laboratory diagnostics sales were up 4.9%. Shares closed Tuesday at $60.43 and were inactive premarket. The stock has gained 9.2% over the past three months. -By Melodie Warner, Dow Jones Newswires; 212-416-2283; melodie.warner@dowjones.com

Stock News for Abbott Labs (ABT)
DateTimeHeadline
09/28/201617:06:44Statement of Changes in Beneficial Ownership (4)
09/28/201609:00:00Abbott Receives FDA Approval for the FreeStyle Libre Pro™ System, a...
09/27/201606:02:29Notice of Effectiveness (effect)
09/26/201613:46:24Prospectus Filed Pursuant to Rule 424(b)(3) (424b3)
09/21/201614:00:00Malnutrition Adds $15.5 Billion Annually to Direct U.S. Medical...
09/21/201610:37:00Abbott Laboratories to Delist from London Stock Exchange
09/21/201609:00:00Abbott Hosts Conference Call for Third-Quarter Earnings
09/20/201616:59:49Registration Statement for Securities to Be Issued in Business...
09/20/201609:00:00Fueling Performance with Fat: EAS® Launches First Ketogenic...
09/17/201603:02:00J&J to Buy Abbott Eye Business -- WSJ
09/16/201618:26:00J&J to Buy Abbott's Eye-Surgery Unit for $4.325 billion -- 3rd...
09/16/201617:55:00J&J to Buy Abbott's Eye-Surgery Unit for $4.325 billion -- 2nd...
09/16/201617:03:04Current Report Filing (8-k)
09/16/201615:59:00J&J to Buy Abbott's Eye-Surgery Unit for $4.325 billion -- Update
09/16/201615:00:00Abbott to Sell Abbott Medical Optics to Johnson & Johnson for...
09/16/201613:20:00J&J Nears Deal to Buy Abbott's Eye-Surgery Unit
09/16/201613:07:00J&J Nears Deal to buy Abbott's Eye-Surgery Equipment Unit
09/15/201609:00:00Abbott Declares 371st Consecutive Quarterly Dividend
09/13/201617:26:56Registration Statement for Securities to Be Issued in Business...
09/08/201613:11:00Abbott Named Industry Leader for Responsible and Sustainable...

Abbott Laboratories and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2015 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad