Shares of Abbott Laboratories (ABT) tumbled in pre-market hours despite delivering robust first-quarter revenue figures and maintaining steady earnings. The healthcare giant's decision to lower its full-year profit outlook coupled with deteriorating operating margins spooked investors, raising red flags about the company's ability to maintain profitability.
Abbott Laboratories delivered first-quarter financial results on April 16 that exceeded Wall Street's revenue projections, with its recently completed cancer diagnostics acquisition providing additional momentum.