Abbott (NYSE:ABT) shares hit a 52-week high today after the company said its 2nd-quarter earnings slipped 11.2% on a 2% sales increase.
The Chicago-area medical products maker, which is slated to spin out its branded pharmaceuticals business later this year, posted profits of $1.73 billion, or $1.08 per share, on sales of $9.81 billion during the 3 months ended June 30.