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Stock Market & Financial Investment News

News Breaks
January 22, 2013
15:11 EDTABTEarnings Preview: Abbott's Q4 will be last to include proprietary pharma
Abbott Laboratories (ABT) is scheduled to report Q4 earnings before the market open on Wednesday January 23, with a conference call scheduled for 9:00 am ET. Abbott is engaged in the discovery, development, manufacture, and sale of health care products worldwide. The company recently separated its proprietary pharmaceutical business into AbbVie, an independent company... EXPECTATIONS: Analysts are looking for EPS of $1.50 on revenue of $10.58B, according to First Call. The consensus range for EPS is $1.47-$1.53 on revenue of $10.40B-$10.76B... LAST QUARTER: Abbott reported Q3 EPS of $1.30 against estimates of $1.28 on revenue of $9.77B against estimates of $9.93B. On its Q3 earnings conference call the company said it was too early to give FY13 guidance... STREET RESEARCH: On January 11, Barclays initiated Abbott with an Equal Weight and a $35 price target. Earlier in January, Deutsche Bank downgraded Abbott to Hold from Buy with a $33 price target citing valuation following the spin-off of AbbVie, while Wells Fargo in a research note on January 2 said Abbott shares are attractive following the spin-off, citing significant margin expansion opportunities. Wells Fargo gave a valuation range on Abbott shares of $33-$34 to reflect the spin-off... PRICE ACTION: Shares of Abbott traded in an upward trajectory in 2012 from approximately $56.50 to a high of approximately $72 reached in mid-October. Abbott has traded in a range of approximately $31.64 to $33.88 since the company announced the completion of the spin-off on January 2.
News For ABT From The Last 14 Days
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September 22, 2014
07:06 EDTABTAbbott price target raised to $48 from $44 at RBC Capital
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September 19, 2014
11:25 EDTABTSenators bring bill requiring companies to settle before inverting
U.S. Senators Sherrod Brown and Dick Durbin announced new legislation requiring corporations to "Pay What You Owe Before You Go" – settling their U.S. tax bill before relocating to a foreign country. "Everyone knows that before you leave a restaurant you have to settle your tab," Brown said. "Corporations shouldn’t get to play by different rules. While it is critical that we reach a long-term solution that reforms our international corporate tax code by implementing a global minimum tax and reducing the statutory tax rate, this bill is an immediate, commonsense measure to ensure businesses settle up before leaving the U.S." Among the deals or possible transactions that involve inversion are Mylan's (MYL) acquisition of Abbott (ABT), Medtronic's (MDT) acquisition of Covidien (COV) and Valeant's (VRX) proposed takeover of Allergan (AGN).
September 16, 2014
11:51 EDTABTOECD looks to close tax loopholes with new proposals
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September 15, 2014
09:32 EDTABTAbbott initiates ABSORB IV trial
Abbott announced the start of the ABSORB IV clinical trial, which will test whether its Absorb Bioresorbable Vascular Scaffold is more cost-effective and offers a higher quality of life than a permanent, metallic drug eluting stent. Unlike a metallic stent, Absorb completely dissolves over time after doing its job. ABSORB IV is designed to enroll approximately 3K people with coronary artery disease, mostly in the U.S. The ABSORB IV trial is designed to confirm these novel findings that treatment with the Absorb device can help provide people with heart disease a higher quality of life after a heart stent procedure. The data from the ABSORB IV trial will be combined with the data from the ABSORB III trial to create a population of more than 5K people studied in the U.S. This data set, which is the largest of its kind for bioresorbable heart devices, provides an opportunity to evaluate the performance of Absorb compared to the current standard of a metallic drug eluting stent across a number of measures, including the broader health economic impact of this innovative therapy.
07:45 EDTABTCardiovascular Research Foundation to hold a conference
Transcatheter Cardiovascular Therapeutics: TCT 2014 to be held in Washington, D.C. on September 13-17 with some presentations being webcasted. Webcast Link
September 14, 2014
13:30 EDTABTAbbott announces positive one-year clinical results from ABSORB II
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September 11, 2014
13:41 EDTABTAbbott announces new $3B share repurchase program
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September 9, 2014
06:42 EDTABTLew expects to make decision on combating inversion deals soon, NY Times reports
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