Abbott shares break out, possibly on Humira sentiment

Posted in General 
June 18th, 2009

Shares of Abbott Labs are trading on slightly elevated volume for what’s normal in its first 45 minutes of trading, as the stock breaks above its May highs.

There’s no news out on Abbott this morning and no meaningful analyst coverage. But the stock could be benefiting from positive technical patterns for the sector, market strength so far in the session, and positive sentiment for its drug Humira, which was projected to be a top 5 best-selling drugs worldwide by 2014 yesterday, according to research group Evaluate Pharma.

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