Abbott Laboratories Beats on Q2 Estimates, But Stock Slides

Although it's popular as a coronavirus stock these days, Abbot Laboratories (NYSE: ABT) nevertheless is struggling with other areas of its business. On average, they believed Abbott would take in $6.81 billion in sales and post an adjusted net profit of $0.42 per share. Two of the company's four business lines -- its largest, medical devices, and established pharmaceuticals -- saw notably lower sales during the quarter, falling a respective 21% and nearly 9%.