Why Abbott Stock Jumped Today
Yahoo Finance ·
Shares of Abbott Laboratories ( ABT +10.71% ) popped on Thursday after the healthcare products provider raised its full-year profit forecast. Abbott's sales rose 13% to $12.6 billion in the second quarter, boosted by its $21 billion acquisition of cancer screening leader Exact Sciences in March. The acquisition added more preventive products to Abbott's offerings, including Exact's market-leading noninvasive colorectal cancer screening test, Cologuard. Abbott's worldwide diagnostics sales surged 42.3% to $3.1 billion.
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