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The Zacks Analyst Blog Highlights Abbott Laboratories, ServiceNow, Schlumberger, Shopify and Workday

For Immediate Release

Chicago, IL – November 3, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Abbott Laboratories ABT, ServiceNow, Inc. NOW, Schlumberger Ltd. SLB, Shopify Inc. SHOP and Workday, Inc. WDAY.

Here are highlights from Wednesday’s Analyst Blog:

Top Research Reports for Abbott Labs, ServiceNow and Schlumberger

The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Abbott Laboratories, ServiceNow, Inc. and Schlumberger Ltd. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.

You can see all of today's research reports here >>>

Abbott Laboratories' shares have declined -22.2% over the past year against the Zacks Medical - Products industry's decline of -49.3%. The company's total sales were negatively impacted by COVID-19 testing-related sales decline and a manufacturing stoppage initiated in February of certain infant nutrition formula products manufactured at Abbott's Sturgis, MI, facility.

Excluding these negative factors, total worldwide sales increased 6% on an organic basis, benefiting from robust sales growth across the company's core Established Pharmaceuticals and Medical Devices segments.

Meanwhile, the Diabetes Care business continued to benefit from the growing sales of its flagship CGM system, FreeStyle Libre. Abbott exited the third quarter of 2022 with better-than-expected earnings and revenues. The raised 2022 guidance buoys optimism.

(You can read the full research report on Abbott Laboratories here >>>)

Shares of ServiceNow have underperformed the Zacks Computers - IT Services industry over the past year (-39.1% vs. -35.3%). The company is suffering from high inflation, unfavorable forex and challenging macro-economic environment. Stiff competition is a headwind and is expected to hurt prospects in the long haul.

However, robust growth in subscription revenues as reflected by the strong third-quarter 2022 results. The company is riding on the increasing adoption of its workflows by enterprises undergoing digital transformation. As businesses, government agencies and others continue to upgrade their infrastructure to cloud, the company is poised to boost uptake of its Now platform.

Further, its expanding global presence, solid partner base and strategic buyouts are expected to bolster growth prospects. Strategic alliances with the likes of Microsoft remain tailwinds.

(You can read the full research report on ServiceNow here >>>)

Schlumberger's shares have outperformed the Zacks Oil and Gas - Field Services industry over the past year (+56.3% vs. +6.4%).  The company is the largest oilfield services player, with a presence in every energy market across the globe. Being the leading provider of technology for complex oilfields, the company is well-poised to take up new offshore projects in international markets.

The significant increase in oil prices is aiding its overall business. Increased participation in growth of drilling and completion activities across the world brightened the company's outlook. Schlumberger reported strong third-quarter results owing to strong activities in land and offshore resources in North America and Latin America.

However, the company's balance sheet has massive debt exposure compared with the composite stocks in the industry. Also, the aggressive capital spending budget remains a headwind for the company. As such, the stock warrants a cautious stance.

(You can read the full research report on Schlumberger here >>>)

Other noteworthy reports we are featuring today include Shopify Inc. and Workday, Inc..

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Zacks Investment Research

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.


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Abbott Laboratories (ABT) : Free Stock Analysis Report
 
Schlumberger Limited (SLB) : Free Stock Analysis Report
 
Workday, Inc. (WDAY) : Free Stock Analysis Report
 
ServiceNow, Inc. (NOW) : Free Stock Analysis Report
 
Shopify Inc. (SHOP) : Free Stock Analysis Report
 
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Zacks Investment Research

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