Key TakeawaysA jury in St. Louis ruled on Friday that Abbott Laboratories must pay $495 million in compensation and damages in a lawsuit involving the company's premature infant formula.Abbott was sued by an Illinois woman whose daughter contracted necrotizing enterocolitis after being given the formula in the hospital.The company has denied its product is unsafe.Abbott shares fell as much as 5% in early trading Monday. Shares of Abbott Laboratories (ABT) came under pressure Monday after a jury in St. Louis ...

Abbott Laboratories (NYSE:ABT)) is off 3.6% to trade at $101.44 this morning, suffering a drop after its premature infant formula trial ended in the company needing to pay $495 million in damages to those impacted by a possible increase in bowel disease. An Abbott spokesperson stands against the verdict, adamant the company will appeal.Alongside today's drop, ABT also succumbed to pressure at its 100-day moving average, a trendline that's sat overhead since early April. The medical equipment stock remains i ...

Abbott Labs (NYSE:ABT) stock is falling more than 4% after a St. Louis jury found its premature infant baby formula responsible for a potentially fatal bowel disease.As of this writing, ABT stock is trading around the $100 mark. The market capitalization of Abbott is $175 billion on estimated sales of $38.4 billion for 2024. A Formula for Legal TroubleThe case was filed on behalf of Margo Gill and her daughter, who developed necrotizing enterocolitis (NEC) and suffered severe brain damage after being given ...

thitimon toyai/iStock via Getty Images Foreword This article is based on Fortune magazine’s 2024 survey of 500 Largest U.S. Corporations (F500-IL) (subscription required) “The Fortune 500, in its 70th year, ranks the biggest U.S. companies by revenue. In total, Fortune 500 companies represent two-thirds of the U.S. GDP with $18.8 trillion in revenues, $1.7 trillion in profits, and $43 trillion in market value (as of March 28, 2024), and they employ 31 million people worldwide.” This article covers the t ...

A jury on Friday found that Abbott Laboratories’ specialized formula for premature infants caused an Illinois girl to develop a dangerous bowel disease, ordering the healthcare company to pay $495 million in damages.The verdict in St. Louis, Missouri state court comes in the first trial against the company out of hundreds of similar claims over the formula pending in courts around the country, which Reuters viewed via Courtroom View Network.Illinois resident Margo Gill, who brought the case against Abbott, ...

An exhibit from Abbott is seen at the Las Vegas Convention Center during the Consumer Electronics ... [+] Show January 10, 2024, in Las Vegas, Nevada. (Photo by Brendan Smialowski / AFP) (Photo by BRENDAN SMIALOWSKI/AFP via Getty Images)AFP via Getty ImagesAbbott (NYSE: ABT) recently reported its Q2 results, with revenues and earnings exceeding our expectations. The company reported revenue of $10.4 billion and earnings of $1.14 on a per-share and adjusted basis, compared to our estimates of $10.3 billion a ...

These stocks provide good yields and they don't come with much risk.If you're looking for some good dividend stocks to own in retirement, one thing you'll want to focus on is stability. Striking a balance between safety and dividend income can be key to ensuring you protect your savings while also making the most of them. And by investing in blue chip stocks with above-average yields, you can get the best of both worlds.Three stocks that can provide you with some good diversification and dividend income are ...

The concept of safe stocks arguably couldn’t be timelier. Recently, the technology sector encountered significant turmoil, with many experts questioning the sustained success of artificial intelligence and related innovations. Some of the most popular large-capitalization equities tumbled, which in some sense could bode well for boring but established players.It’s the common tortoise and the hare theme. While growth-focused tech firms have witnessed blistering returns, the issue is that a significant portio ...

Key TakeawaysSales at Abbott Laboratories' diagnostics unit dropped in the second quarter as demand for COVID-19 tests slumped.The company beat profit and sales estimates on strong sales of its medical devices.Abbott raised its full-year profit and organic sales growth outlooks. Shares of Abbott Laboratories (ABT) declined in intraday trading Thursday as the healthcare products maker’s sales of COVID-19 tests slumped with the pandemic ending. The company reported second-quarter adjusted earnings per share ( ...

Abbott Laboratories (NYSE:ABT) Q2 2024 Earnings Conference Call July 18, 2024 9:00 AM ET Company Participants Robert Ford - Chief Executive Officer Phil Boudreau - Executive Vice President, Finance, Chief Financial Officer Mike Comilla - Vice President, Investor Relations Conference Call Participants Larry Biegelsen - Wells Fargo Travis Sneed - Bank of America Robbie Marcus - JP Morgan Josh Jennings - TD Cowen David Roman - Goldman Sachs Danielle Antalffy - UBS Vijay Kumar - Evercore ISI Operator Good morni ...