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HC Stocks Momentum! Valeant Pharmaceuticals Intl Inc (VRX), Abbott Laboratories (ABT)

Shares of Valeant Pharmaceuticals Intl Inc (NYSE:VRX) ended Friday session in red amid volatile trading. The shares closed down -1.74 points or -7.88% at $20.35 with 26,366,308 shares getting traded. Post opening the session at $22.15, the shares hit an intraday low of $20.15 and an intraday high of $22.15 and the price vacillated in this range throughout the day. The company has a market cap of $6.38 billion and the numbers of outstanding shares have been calculated to be 341.19 million shares.

Valeant Pharmaceuticals Intl Inc (VRX) announced that it plans to release third quarter 2016 financial results on Tuesday, November 8, 2016, prior to the conference call and live webcast at 8:00 a.m. ET, when the Company will discuss the results.

Conference Call Details

Date                  Tuesday, November 8, 2016

Time                 8:00 a.m. ET

Webcasthttp:    //ir.valeant.com/events-and-presentations

Participant Event Dial-in

(877) 876-8393 (North America)

(973) 200-3961 (International)

Participant Passcode         49468113

Replay Dial-in

(855) 859-2056 (North America)

(404) 537-3406 (International)

Replay Passcode  49468113 (replay available until November 16, 2016)

Shares of Abbott Laboratories (NYSE:ABT) ended Friday session in red amid volatile trading. The shares closed down -0.76 points or -1.89% at $39.54 with 12,520,066 shares getting traded. Post opening the session at $40.25, the shares hit an intraday low of $39.51 and an intraday high of $40.60 and the price vacillated in this range throughout the day. The company has a market cap of $57.04 billion and the numbers of outstanding shares have been calculated to be 1.47 billion shares.

Abbott Laboratories (ABT) announced financial results for the third quarter ended Sept. 30, 2016.

Third-quarter worldwide sales of $5.3 billion increased 2.9 percent on a reported basis and 4.0 percent on an operational basis.

Reported diluted EPS from continuing operations under GAAP was a $(0.24) loss in the third quarter, primarily due to an adjustment of $(0.66) per share associated with Abbott’s equity investment in Mylan to reflect Mylan’s share price as of Sept. 30, 2016. Excluding specified items, adjusted diluted EPS from continuing operations was $0.59 in the third quarter, at the high end of the previous guidance range.

Abbott adjusted its full-year 2016 EPS guidance for continuing operations under GAAP to $0.59 to $0.61, and narrowed and raised at the mid-point its full-year 2016 adjusted EPS for continuing operations to $2.19 to $2.21, exceeding its initial guidance for the year.

In the third quarter, Abbott received U.S. FDA approval for its FreeStyle® Libre Pro system, a revolutionary continuous glucose monitoring system for healthcare professionals to use with their patients with diabetes; submitted for U.S. regulatory approval a consumer version of FreeStyle Libre, to be used by people with diabetes to self-monitor glucose levels; received U.S. FDA approval for AbsorbTM, the only fully dissolving heart stent; and received U.S. FDA approval for TECNIS® Symfony intraocular lenses for the treatment of cataracts, the first and only extended depth of focus lenses for people with cataracts.

On Sept. 16, 2016, Abbott announced the sale of Abbott Medical Optics, its vision care business, to Johnson & Johnson for $4.325 billion. This transaction aligns with Abbott’s shaping of its portfolio, which has recently focused on developing leadership positions in cardiovascular devices and expanding diagnostics. The transaction is expected to close in the first quarter of 2017 and is subject to customary closing conditions, including regulatory approvals.

 

About James Smith

James Smith is one of the best author of health care. His articles have appeared in a number of health care sites before and now he is writing on health care for us on regular basis.

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