SILO - Nasdaq Down Over 100 Points; Abbott Laboratories Earnings Beat Views | Benzinga
U.S. stocks traded lower toward the end of trading, with the Nasdaq Composite falling more than 100 points on Thursday.
The Dow traded down 1.08% to 40,752.05 while the NASDAQ fell 0.80% to 17,853.34. The S&P 500 also fell, dropping, 0.75% to 5,546.48.
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Leading and Lagging Sectors
Energy shares jumped by 1.1% on Thursday.
In trading on Thursday, health care shares fell by 1.6%.
Top Headline
Abbott Laboratories (NYSE:ABT) reported better-than-expected earnings for its second quarter on Thursday.
The company posted sales of $10.38 billion, up 4%, almost in line with the consensus of $10.37 billion. Abbott's adjusted diluted earnings per share was $1.14, beating the analyst estimates of $1.10.
Abbott said it projects full-year 2024 GAAP EPS of $3.30-$3.40 versus prior guidance of $3.25-$3.40, primarily related to intangible amortization, restructuring and cost reduction initiatives and other net expenses. The company forecasts adjusted EPS of $4.61-$4.71 versus the prior guidance of $4.55-$4.70 and consensus of $4.63.
Equities Trading UP
- CommScope Holding Company, Inc. (NASDAQ:COMM) shares shot up 9% to $1.87. Amphenol announced plans to acquire mobile networks businesses from CommScope.
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