87.76 0.00 (0.00%)
After hours: 7:05PM EDT
|Bid||86.05 x 1800|
|Ask||88.41 x 1200|
|Day's Range||85.44 - 87.84|
|52 Week Range||62.87 - 87.84|
|Beta (3Y Monthly)||0.87|
|PE Ratio (TTM)||53.97|
|Earnings Date||Oct 15, 2019 - Oct 21, 2019|
|Forward Dividend & Yield||1.28 (1.49%)|
|1y Target Est||89.64|
Does the July share price for Abbott Laboratories (NYSE:ABT) reflect what it's really worth? Today, we will estimate...
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Abbott (ABT) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank 1 (Strong Buy).
Shares of Abbott Laboratories surged Wednesday after adjusted Abbott earnings topped Wall Street's expectations and the medical stock raised its sales and profit guidance for 2019.
U.S. stock indexes fell on Wednesday as weak results from CSX Corp stoked concerns that the protracted trade war between the United States and China could hurt corporate earnings. CSX shares tumbled 10.3%, their biggest one-day drop since 2008, after the rail freight company posted lower-than-expected quarterly profit and cut its full-year revenue forecast.
Abbott (ABT) registers strong Cardiovascular and Neuromodulation sales on double-digit growth in Electrophysiology, Heart Failure and Structural Heart.
U.S. stock indices were again quiet on Wednesday, as we begin to chip away at the tip of the earnings iceberg. We're mostly delving through the banks right now, but will have tech and other industries beginning soon. Let's look at a few top stock trades. Top Stock Trades for Tomorrow 1: Tesla Click to EnlargeTesla (NASDAQ:TSLA) stock has been moving favorably, working on its seventh straight week of gains. InvestorPlace - Stock Market News, Stock Advice & Trading TipsIt's getting into a very key area though, the $250 to $260 zone. This was prior range support for years, buoying Tesla stock on each test. Back in May, the stock plunged below this mark, rebounded the next week and failed to reclaim it. * 4 Retail Stocks to Buy in Time for the Back-to-School Rush This is all shown via the purple arrow on the chart and shows when an area shifts from support to resistance. Now back in this area, it's vital for TSLA stock to reclaim this range level in order to keep the rally alive. Those who bought Tesla sub-$200 as a trade may consider booking some profits here. Should shares push through, look for a rally up to the 200-week moving average, currently at $273. On a pullback, see that the 10-week holds as support. I wouldn't want to see Tesla below $240. Top Stock Trades for Tomorrow 2: Abbott Labs Click to EnlargeAbbott Labs (NYSE:ABT) hit new highs after the company reported earnings. However, the stock is not moving as robustly as one might have expected. I want to see ABT stock hold $85 on the downside and see if it can push up to channel resistance on the upside. Top Stock Trades for Tomorrow 3: Gold Click to EnlargeThe move has been years in the making, but the SPDR Gold ETF (NYSEARCA:GLD) is starting to make some waves. The iShares Silver Trust ETF (NYSEARCA:SLV) has been trading well too, but isn't putting together the kind of chart GLD is. Above is a long-term weekly chart. With GLD over the $128 to $130 area, it's in breakout mode. While shares are putting in a nice bull flag setup after a huge burst higher in June, we absolutely need to see prior resistance hold as support. A rate cut should help fuel a rally for gold, although the market is surely starting to price in such an event. Over $135.55 sends GLD even higher. A pullback to $130 or the 10-day moving average that holds as support may be a buy-the-dip opportunity. Top Stock Trades for Tomorrow 4: Invitae Click to EnlargeShares of Invitae (NASDAQ:NVTA) took off Wednesday, rallying up toward $24 at one point in the day. Citron Research said it had a position in the name and is using a $100 price target. We've been telling InvestorPlace readers for months that we love this name. Today's action came with perfect timing. On Twitter on Tuesday, we pointed out that NVTA stock broke below the 20-day moving average, but reclaimed this mark by the close. That was very constructive action, while Wednesday's action has been downright impressive. The action is similar to what we saw last month, where shares broke below the 20-day, reclaimed it in the same session, then went on a monster run over the next few days. I'm not sure that history repeats, but investors are hopeful that it will. Let's see if NVTA can push through $24 to $24.50. If it can, $26+ could be in the cards. Top Stock Trades for Tomorrow 5: Teva Pharmaceutical Click to EnlargeShares of Teva Pharmaceutical (NYSE:TEVA) are taking it on the chin. The stock is down 11% in just three days and more than 20% from its highs earlier this month. * 8 Penny Stocks That Have Fallen From Grace The stock hit new 52-week lows on the move and is threatening to fall below $8 support. Longs with a strong stomach can play against Wednesday's lows, but Teva has not been a great one to own. A break below $8 could accelerate the selling pressure. A rally could bring Teva back up to its 20-day moving average. Above that and $10 is possible. Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long NVTA. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip * 7 Services Stocks to Buy for the Rest of 2019 * 6 Stocks to Buy and 1 to Sell Based on Insider Trading The post 5 Top Stock Trades for Thursday: TSLA, GLD, ABT appeared first on InvestorPlace.
Abbott Laboratories earnings for the company's second quarter of 2019 has ABT stock heading higher on Wednesday.Source: Shutterstock Abbott Laboratories (NYSE:ABT) is increasing its guidance for 2019 after a strong second-quarter earnings report. This has it now expecting earnings per share for the year to come in between $3.21 and $3.27. That's good news for ABT stock as Wall Street is looking for earnings per share of $3.22 for the year.The positive outlook for 2019 is thanks to a strong earnings report for the second quarter of the year. This includes earnings per share coming in at 82 cents. This is an increase over the company's earnings per share of 73 cents from the second quarter of 2018. It also beats out analysts' earnings per share estimate of 80 cents for the quarter.InvestorPlace - Stock Market News, Stock Advice & Trading TipsTo go along with that earnings per share beat from the most recent Abbott Laboratories earnings report is net income of $1.01 billion. This is up roughly 37% when compared to net income of $733 million reported in the same period of the year prior. * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip The Abbott Laboratories earnings report for the second quarter of 2019 also includes revenue of $7.98 billion. This is up roughly 3% from its revenue of $7.77 billion reported in the second quarter of the previous year. That has it missing Wall Street's revenue estimates of $8.00 billion for the period, but it wasn't keeping ABT stock down today.ABT stock was up 3% as of Wednesday afternoon. The stock is also up 19% since the start of the year. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip * 7 Services Stocks to Buy for the Rest of 2019 * 6 Stocks to Buy and 1 to Sell Based on Insider Trading As of this writing, William White did not hold a position in any of the aforementioned securities.The post Abbott Laboratories Earnings: ABT Stock Surges on Guidance, Q2 Beat appeared first on InvestorPlace.
U.S. stock indexes retreated for the second day on Wednesday as weak results from CSX Corp pressured railroad stocks and highlighted the wide-ranging impact of the protracted trade war between the United States and China. Shares of CSX tumbled 10.7% and were set for their biggest one-day drop in nearly 17 years, after the company posted lower-than-expected quarterly profit and cut its full-year revenue forecast. Rival Union Pacific Corp slipped 5.7%, weighing heavily on the benchmark S&P 500 while Kansas City Southern fell 4.4%.
U.S. stock indexes fell on Wednesday as weak results from CSX Corp stoked concerns that the protracted trade war between the United States and China could hurt corporate earnings. shares tumbled 10.3%, their biggest one-day drop since 2008, after the rail freight company posted lower-than-expected quarterly profit and cut its full-year revenue forecast. Ongoing trade tensions have contributed to a decline in truck and rail freight volumes in the first half of 2019. The Federal Reserve's Beige Book, a compendium of anecdotes from U.S. businesses, also pointed to trade-related pressures on transportation and manufacturing companies.
It may be a largely unchanged day for the broad stock market today, but there are plenty of stock and sector moves under the surface to watch.
Abbott is betting on the device, FreeStyle Libre, and is working on newer versions to cushion slowing growth in some of its older products. The continuous glucose monitor, which helps diabetics track blood sugar levels without having to prick their fingers, is used by more than 1.5 million people worldwide. FreeStyle Libre 2, the next-generation device, which is already approved in Europe, is now under U.S. regulatory review.
Abbott (ABT) delivered earnings and revenue surprises of 2.50% and -0.10%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
Abbott Laboratories beat analysts' estimates for quarterly profit and lifted its full-year adjusted earnings forecast on Wednesday, as the company benefits from strong demand for its blood sugar monitoring devices. Shares of the company, which also makes heart devices and nutritional products for babies and adults, rose about 2% to $84.75 in early trading. Sales of FreeStyle Libre, the company's continuous glucose monitor that helps diabetics track blood sugar levels without having to prick their fingers, surged 63.9% on a reported basis to $433 million in the second quarter.
Shares of Abbott Laboratories gained 0.8% in premarket trade Wednesday after the medical-device maker reported second-quarter earnings that topped Wall Street expectations and raised full-year guidance, though the company missed expectations for revenue. Profit for the latest quarter rose to $1.465 billion, or 56 cents a share, from $733 million, or 41 cents a share, from the year-earlier quarter. Adjusted EPS was 82 cents, topping the FactSet consensus of 80 cents. Revenue rose 2.7% to $7.979 billion from $7.767 billion a year ago. Analysts polled by FactSet had expected $7.997 billion in sales. Sales of the company's nutrition unit rose 0.9% to $1.875 billion, while the diagnostics sales rose 1.7% to $1.905 billion. Sales of the established pharmaceuticals business fell 1.8% to $1.108 billion, while sales of the medical devices unit rose 6.4% to $3.075 billion, boosted by strong sales of the company's FreeStyle Libre glucose monitoring system and MitraClip. Abbott raised its full-year EPS to between $3.21 and $3.27 from between $3.15 and $3.25. "Our sales growth accelerated and is sustainable," Abbott's Chief Executive Miles D. White said in a statement. "We have great momentum and are raising our guidance above the strong outlook we previously set for the year." Shares of Abbott have gained 15% so far this year through Tuesday, while the S&P 500 has gained 19.8%.