UPDATE: Abbott Posts Upbeat Q2 results, Lifts Forecast

Shares of Abbott Laboratories ABT gained around 2% in pre-market trading after the company reported upbeat second-quarter results and lifted its forecast for the full year. Abbott posted its quarterly earnings of $466 million, or $0.30 per share, compared to $476 million, or $0.30 per share, in the year-ago period. Its adjusted earnings came in at $0.54 per share. Its sales rose 1.9% to $5.551 billion. However, analysts were expecting earnings of $0.51 per share on sales of $5.527 billion. International sales gained 2.7%, while sales in emerging markets climbed 4.1%. Worldwide Nutrition sales surged 1.6% on a reported basis, while worldwide Diagnostics sales gained 4.8%. Established Pharmaceuticals sales dropped 0.1% on a reported basis, while Medical Devices sales rose 1.2%. Abbott now projects full-year earnings of $2.19 to $2.29 per share, versus its previous forecast of $2.16 to $2.26 per share. Miles D. White, chairman and chief executive officer, Abbott said, "We're ahead of our expectations through the first half of the year and are raising our EPS guidance range as we continue to shape the company for long-term growth." Abbott shares gained 2.02% to $42.00 in pre-market trading.