So noted Elroy. I stand corrected. The article specified forward looking earnings outlook. Which I do believe will pressure the stock lower. My experience with companies buying other companies is that the buyers stock usually goes down big time. Buying Allergan doesn't appear to be as a great incentive to add.
Now if Kaletra provides relief from CV19 that may bump the stock price...a bit. Doesn't do much for GILD, I wouldn't expect it to do much for ABBV either.
I hold ABBV in one of my portfolios. Down $10 per share since opening. No desire AT ALL to add. It may trade within a tight range for a while. Nice dividend that can be had in many places. Not gonna chase it here.
AbbVie Lowers 2020 Earnings Outlook
8:13 am ET May 1, 2020 (Dow Jones) Print
By Dave Sebastian
AbbVie Inc. on Friday lowered its earnings outlook for 2020 as it reported higher profit and sales for the first quarter as customers stocked up amid the Covid-19 pandemic.
The biopharmaceutical company said it now expects per-share earnings of between $7.60 and $7.70, down from its prior guidance of $7.66 to $7.76.
The company backed its adjusted earnings guidance of between $9.61 and $9.71 a share.
Analysts polled by FactSet were expecting full-year adjusted earnings of $9.60 a share on sales of $35.34 billion.
The company said it will issue combined guidance following the close of its planned acquisition of Allergan PLC.
Shares rose 1.3% in premarket trading.
AbbVie also said it is collaborating with health authorities and institutions to determine the efficacy and safety of Kaletra/Aluvia, the company's antiretroviral therapy for HIV treatment, against Covid-19.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
May 01, 2020 08:13 ET (12:13 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
