Abbott Cuts Profit Forecast in Wake of Cancer Screening Deal (2)

Abbott Laboratories’ shares fell after cutting its yearly profit guidance to adjust for the impact of a $21 billion cancer-screening deal last year meant to boost the medical technology company’s flagging diagnostics business.

The device and nutrition company now expects full-year adjusted earnings in the range of $5.38 to $5.58 a share, it said in a statement Thursday, compared with its prior forecast of $5.55 per share to $5.80 per share. Abbott still projects full-year 2026 comparable sales growth of 6.5% to 7.5%.

Shares fell as much as 4.6% on Thursday when markets opened in New York. They’ve lost ...