US Stock Market Move | Q3 performance guidance disappoints expectations and lowers the upper limit of full-year profit guidance. Abbott Laboratories (ABT.US) drops more than 8%.

On Thursday, Abbott Laboratories (ABT.US) fell by more than 8%, marking the largest decline since June 2021, closing at $121.08 per share. In terms of news, the financial report showed that after adjusting, Abbott Laboratories' earnings per share for the second quarter reached $1.26, slightly higher than the analysts' general forecast of $1.25. The total revenue for the quarter was $11 billion, surpassing the market's expected $10.7 billion. However, looking ahead, Abbott Laboratories forecasted earnings per share of $1.28-1.32 for the third quarter, lower than the market's general expectation of $1.34. The company also lowered the upper end of its full-year profit guidance, expecting adjusted earnings per share of $5.10 to $5.20 for the year, lower than the previous expected range of $5.05 to $5.25. The company had previously stated in the last quarter that it planned to raise profit guidance before the tariff policy was implemented.