BUZZ-Abbott jumps, set for best day since 2002 after lifting profit forecast
Abbott Laboratories ABT | 0.00 | |
Stryker Corporation SYK | 0.00 | |
Medtronic Plc MDT | 0.00 | |
Intuitive Surgical, Inc. ISRG | 0.00 | |
Danaher Corporation DHR | 0.00 |
Updates
** Shares of medical device maker Abbott Laboratories ABT.N up 11.9% at $99.87 — stock on track for its best day since 2002
** A gain of more than 12.5% at close would mark the biggest one-day jump since at least 1980s, as per LSEG data
** Co raises 2026 adjusted profit forecast to $5.45-$5.60/shr from prior view of $5.38-$5.58/shr, above analysts' average estimate of $5.49/shr - LSEG data
** Demand for Abbott's heart devices expected to remain strong in the second half of the year, ABT says
** Co reports Q2 adj. profit of $1.31/shr vs estimates of $1.28/shr
** Co's quarterly revenue of $12.6 billion beats expectations of $12.5 billion
** Shares of other medtech firms: Intuitive Surgical ISRG.O up 3.41%, Stryker SYK.N rises 5.07%, Medtronic MDT.N gains 4.09%, Danaher DHR.N up 1.07%
** Including session's move, ABT down ~18% YTD