Wedbush Reports Solid Results But Fizzling Stocks For Abbott Labs

According to Wedbush, Abbott Laboratories ABT solid results gave no boost to the stock. Wedbush said that Abbott Labs beat Q1 expectations, guided Q2 and full year numbers in line, sustained strong growth for its largest product, validated its emerging markets growth model, and outlined an impressive pipeline of products across its diverse business units. “Despite the impressive financial results and upbeat conference call, ABT's stock sold off. We are not sure why. Perhaps investors remain uneasy that a single product accounts for 18% of total revenues. Perhaps some were bothered that the gross margin came in modestly below some published expectations. Or perhaps some were disappointed that management did not hint at implementing restructuring activities. We see no reason for investors to be disappointed, and we think the stock should be moving higher given the track record of solid execution and the outlook for strong growth.” Abbott Laboratories closed yesterday at $50.80.