Trial Defeat, Resistance Level Drags Abbott Stock

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 ...