Abbott Stock Slumps. The Nutrition Business Is a Drag on Earnings.
Market Intelligence Analysis
AI-PoweredAbbott Laboratories' stock declined after the company's fourth-quarter earnings and sales fell short of Wall Street expectations, despite beating earnings per share estimates.
Market impact analysis based on bearish sentiment with 90% confidence.
Article Context
Shares of Abbott Laboratories tumbled on Thursday after the medical devices maker posted fourth-quarter earnings and sales that underwhelmed Wall Street. For the fourth quarter, Abbott reported adjusted earnings of $1.50 a share, slightly better than the $1.49 consensus among analysts tracked by FactSet The company logged roughly $11.5 billion in sales, missing the $11.8 billion analysts had forecast. The company said it expects full-year adjusted earnings in the range of $5.55 to $5.80 a share.
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