The Rising Influence of Rising Affluence

[DewDiligence]

ABT -9% on soft 2016 guidance due to Venezuela:

http://finance.yahoo.com/news/abbott-reports-fourth-quarter-2015-123000729.html

Abbott is issuing full-year 2016 guidance for earnings per share, excluding specified items [i.e. non-GAAP], of $2.10 to $2.20. Abbott's 2016 forecast assumes a significantly lower contribution from Venezuelan operations as a result of challenging market conditions in that country. Excluding the impact of foreign exchange and Venezuela, the midpoint of Abbott's 2016 adjusted EPS guidance range would reflect strong double-digit growth.

ABT (like PG and CL) is a multinational that has long had a significant presence in Venezuela, but the busted economy there (on account of low oil prices) will mean that ABT’s 2016 business in Venezuela will generate no profits.

On today’s CC, more than half of the Q&A was devoted to Venezuela.