Biotech Stocks Catching Fire: Abbott Laboratories (ABT)
Abbott Laboratories (NYSE:ABT) — which develops a variety of pharmaceutical treatments, devices and vision care products — is up more than 9% from its December lows to return to levels not seen since October.
The company has benefited from broad buying interest in biotech stocks — thanks to its position as one of the larger companies in the sector — and the recent closing of its acquisition of St. Jude Medical.
ABT will next report results on Jan. 25 before the bell. Analysts are looking for earnings of 65 cents per share on revenues of $5.4 billion.