Abbott triggered by positive earnings

20 Jul 2023

Abbott Laboratories Second-Quarter Results Beat Expectations Despite Lower COVID-19 Testing Sales

The company now anticipates about $1.3 billion in sales from COVID-19 testing products for 2023, compared with the prior forecast of $1.5 billion, "due to current testing dynamics, including lower demand for testing following the end of the public health emergency in May," Chief Financial Officer Robert Funck said on the call.

For the third quarter, Abbott anticipates adjusted earnings of roughly $1.10 per share, according to Funck. Analysts estimate EPS of $1.11.

Technicals:

Cycle Sniper Reversal Filter Headed Nort
Cycle Sniper Bullish ddeviation

Key Resistance: 116 $

Closing above 116 $

Targets: 122 $ and 128 $