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Thursday, January 29, 2015

Abbott Labs 2015 outlook largely in line with estimates, (NYSE: ABT)

Abbott Laboratories forecast full-year profit largely in line with analysts' estimates even as other large drugmakers have warned of a stronger dollar hurting their results.Johnson & Johnson surprised investors last week by detailing the degree to which a strong dollar will hurt sales abroad this year."While we'll need to manage through currency headwinds again in 2015, we're targeting another year of top-tier earnings growth," Abbott CEO Miles White said in a statement.The dollar rose 13 percent in 2014, its biggest yearly gain since 1997.

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of healthcare products. Shares of ABT traded higher by 1.22% or $0.53/share to $43.94. In the past year, the shares have traded as low as $35.80 and as high as $46.50. On average, 4858820 shares of ABT exchange hands on a given day and today's volume is recorded at 557597.