Abbott Beats the Street

The stock market is down a bit so far in early trading.

Abbott Labs (ABT) kicked off earnings season for us this morning. For Q2, Abbott earned $1.43 per share. That was 31 cents better than estimates.

The company now expects full-year earnings of at least $4.90 per share. That’s an increase of 20 cents per share to its previous forecast. The shares are currently down about 2%.

The existing-home sales report came out this morning. The number of existing homes sold fell to a two-year low. The annualized rate was 5.12 million. Expectations were for 5.35 million. Hats off to Tom Lawler, the housing economist, who got the number exactly right.

The median sales price rose to $416,000 which is another record.

Posted by on July 20th, 2022 at 10:24 am


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