Why Abbott Laboratories Shot Higher Today
Abbott Laboratories (NYSE: ABT) easily surmounted Hump Day, rising by 3.4% and trouncing the S&P 500 index's gain as it did so. The reason was the company's impressive third quarter, the results of which were published that morning.
For the quarter, Abbott posted year-over-year sales growth of 23%, as its top line landed at $10.9 billion. Non-GAAP (adjusted) net income ballooned even more, expanding by 43% to just over $2.5 billion ($1.40 per share).
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Source Fool.com
