Abbott Laboratories Reports Earnings Meeting Estimates but Cuts Guidance, Leading to Stock Decline
Abbott Laboratories (ABT) reported first-quarter results that met analyst estimates, but the stock fell 6% after the company cut its full-year earnings guidance. The results showed an 8% year-over-year sales increase to $11.2 billion, but the guidance reduction was the main factor behind the negative investor reaction.
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Topics: Acquisition Impact Earnings Guidance Cut Medical Devices Stock Price Movement