Tag Archives: abt

Mylan Finds Support After Abbott Labs Offering Tumble

Mylan Labs (MYL) gapped lower Monday morning after announcing that Abbott Laboratories (ABT) would sell about one-third of its recently acquired stake in the generic drug maker. But Mylan shares bounced off a key support level. Mylan will offer 35 million shares on behalf of Abbott, or 31.8% of Abbott’s stake in Mylan. Underwriters also have the right to buy another 5.25 million shares from Abbott. Abbott acquired 110 million Mylan shares last

Abbott, St. Jude Top Views, But Stocks Under Pressure

Medical product giants St. Jude Medical and Abbott Laboratories both beat analysts’ Q2 expectations and raised their guidance Wednesday, but their shares had a bumpy ride on the market amid a fresh attack on drug-industry mergers. Abbott (ABT) reported its first sales beat in six quarters. Revenue rose 2% to $5.55 billion, about $30 million above consensus. Earnings climbed 17% to 54 cents a share, beating estimates by 4 cents. The company added a

St. Jude, Abbott Labs Earnings Beat Q2 Estimates

Medical-products giants St. Jude Medical (STJ) and Abbott Laboratories (ABT) both beat analysts’ Q2 expectations and raised their guidance Wednesday, though their shares were heading in opposite directions on the stock market today. St. Jude, smaller and specialized mainly in cardiovascular devices, said earnings rose 6% over the year-earlier quarter to $1.02 a share, beating analysts’ consensus by 2 cents. Sales climbed 3% to $1.45 billion, vs.