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MarketWatch MarketPulseOct 21, 2020
Abbott Labs tops Q3 profit and sales estimates, offers upbeat guidance despite pandemic
Abbott Laboratories posted stronger-than-expected third-quarter earnings Wednesday and offered upbeat guidance for the full year, despite the uncertainty created by the pandemic. The company posted net income of $1.232 billion, or 69 cents a share, in the quarter, up from $960 million, or 53 cents a share, in the year-earlier period. Adjusted per-share earnings came to 98 cents, well ahead of the 91 cents FactSet consensus. Sales rose 9.6% to $8.853 billion from $8.076 billion, also ahead of the $8.539 billion FactSet consensus. The company received FDA emergency use authorization for is rapid COVID-19 test in August, with the test delivering results in 15 minutes. The company is now expecting full-year EPS of at least $2.35 and adjusted EPS of at least $3.55, compared with a current FactSet consensus of $3.34. "Our strong results and increased guidance are a direct reflection of our ability to innovate and deliver despite challenging conditions," during the pandemic, CEO Robert B. Ford said in a statement. Shares rose 1.4% premarket and have gained 25% in the year to date, while the S&P 500 has gained 6.6%.

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Google Business NewsOct 21, 2020
COVID-19 vaccine test subject dies in Brazil | TheHill - The Hill
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