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AbbVie Bought Apogee to Strengthen Its Portfolio. Now It’s Cutting Earnings Guidance.
Barrons.com55d agobullish
AbbVie Bought Apogee to Strengthen Its Portfolio. Now It’s Cutting Earnings Guidance.

AbbVie shares took a hit Friday after costs related to the drugmaker’s acquisition of Apogee Therapeutics forced a cut to its full-year profit outlook. Second-quarter revenue jumped 10% to nearly $17 billion, beating the $16.8 billion consensus estimate among analysts polled by FactSet. AbbVie posted adjusted earnings of $3.65 a share, narrowly ahead of Wall Street’s call for $3.60.

Botox Maker Tops Buy Point, But Here Comes The Earnings Report
Investor's Business Daily58d agobullish
Botox Maker Tops Buy Point, But Here Comes The Earnings Report

AbbVie closed above the 230.47 buy point from a cup-with-handle base on June 23 and has climbed 15% from there. The previous day, the stock jumped more than 6% after AbbVie announced it agreed to acquire Apogee Therapeutics. The $10.9 billion deal would strengthen AbbVie's immunology pipeline.