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Meta Financial (CASH) came out with quarterly earnings of $0.94 per share, missing the Zacks Consensus Estimate of $1.58 per share. This compares to earnings of $0.98 per share a year ago. These figures are adjusted for non-recurring items.

CVB Financial (CVBF) came out with quarterly earnings of $0.27 per share, missing the Zacks Consensus Estimate of $0.31 per share. This compares to earnings of $0.37 per share a year ago. These figures are adjusted for non-recurring items.

Plexus (PLXS) came out with quarterly earnings of $0.61 per share, beating the Zacks Consensus Estimate of $0.54 per share. This compares to earnings of $0.79 per share a year ago. These figures are adjusted for non-recurring items.

Preferred Bank (PFBC) came out with quarterly earnings of $1.08 per share, beating the Zacks Consensus Estimate of $1.02 per share. This compares to earnings of $1.30 per share a year ago. These figures are adjusted for non-recurring items.

Sun Communities (SUI) came out with quarterly funds from operations (FFO) of $1.22 per share, beating the Zacks Consensus Estimate of $1.20 per share. This compares to FFO of $1.18 per share a year ago. These figures are adjusted for non-recurring items.

Universal Forest Products (UFPI) came out with quarterly earnings of $0.65 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.58 per share a year ago. These figures are adjusted for non-recurring items.

Origin Bancorp (OBNK) came out with quarterly earnings of $0.03 per share, missing the Zacks Consensus Estimate of $0.41 per share. This compares to earnings of $0.60 per share a year ago. These figures are adjusted for non-recurring items.

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(RTTNews) - Below are the earnings highlights for Las Vegas Sands Corp. (LVS):

(RTTNews) - CSX Corp (CSX) revealed a profit for first quarter that dropped from last year.

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What happened Shares of Transocean (NYSE: RIG) sank 12.7% by 3 p.m. EDT on Wednesday. Weighing on the offshore drilling company was an analyst downgrade. 

What happened Shares of brick-and-mortar retail companies were moving lower on Wednesday, after a leading provider of store-credit cards said that charges fell sharply after mid-March, when stores closed in response to the outbreak of the COVID-19 virus.

Toyota Motor (NYSE: TM) will cut its auto production in Japan by about half from its most recent plan next month, a move that will affect 18 of the company's factories and dozens of suppliers, according to a Nikkei report on Wednesday.

What happened Airline shares were under pressure Wednesday after Delta Air Lines (NYSE: DAL) became the first in the sector to post first-quarter results. Delta actually lost less money in the quarter than analysts had anticipated, but the airline was clear that things have only

What happened  Shares of Expedia Group (NASDAQ: EXPE) jumped as much as 12% on Wednesday after rumors spread that the online travel specialist could receive a $1 billion investment. As of 2:40 p.m. EDT, the stock was up 7.6%. 

While Wall Street analysts were lowering their estimates on Facebook FB because of an uncertain outlook for advertising in the foreseeable future, the company was finalizing a deal for a 10% stake in India’s Reliance Jio.

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report on April 22, and the numbers show that consumption of refined products has collapsed and oil producers have been slow to respond with corresponding production cuts, causing oil prices to

Unlike other smaller healthcare companies, powerhouse Abbott Laboratories (ABT) hardly needed a global pandemic to raise awareness. The healthcare giant was performing well before the viral outbreak, but a slew of good news has just pushed its share price up to a new all-time high of $100.

The company released its quarterly results last Thursday, delivering solid beats across the board. Specifically, revenue came in at $7.7 billion, indicating organic growth of 4.3%, while EPS hit $0.65, 4 cents above the estimates and exhibiting growth of 3.2%. On account of the economic uncertainties due to COVID-19, the company suspended guidance for 2020.

The positive print isn’t much of a surprise. Over the last five years, Abbot has beaten top and bottom-line expectations in most quarters.

But according to Credit Suisse’s Matt Miksic, the real good news was in the details.

“Perhaps the most significant takeaways from Q1 results and management commentary related to the substantial increase in volumes and growth in new COVID-19 tests,” the 5-star analyst said, adding, “We view this wave of new tests as a significant new growth driver for ABT over the next 2-3 years, and expect consensus estimates and growth expectations to rise accordingly in the coming months.”

Over the past several weeks, Abbot has launched three approved COVID-19 tests; two molecular tests on the company’s ID NOW point-of-care platform and m2000 lab-based platform and a lab-based serology blood test. The company expects to add two more in the coming weeks; a lateral flow serological test and an additional lab-based serology test.

“We estimate this wave of COVID-19 tests could reach annual volumes in 2021 of ~50 mil for molecular and ~550 mil serological, driving significant incremental Diagnostics sales of $2.7 bil and 85c to sales and EPS for 2021, respectively, and continued growth in 2022,” Miksic noted.

Accordingly, the top analyst reiterated an Outperform on Abbot along with raising the price target – bumped up from $95 to $106. Upside from current levels is 10%. (To watch Miksic’s track record, click here)

All in all, the rest of the analyst community backs up Miksic’s call. A strong Buy consensus rating is based on 9 Buys and 3 Holds. At $103.85, the average price target implies upside of 9% in the year ahead. (See Abbott stock analysis on TipRanks)

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