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Fly News Breaks for May 26, 2016
STJ, ABT
May 26, 2016 | 07:15 EDT
RBC Capital notes that Abbott's stock has dropped 10%-15% since it announced its acquisitions of St. Jude Medical (STJ) and Alere. The firm says that the deals are causing some investors to sell Abbott's stock, since the transactions are causing the company to transition away from its previous emphasis on consumers, emerging markets. and growth. But the firm is upbeat on the acquisitions, saying they make sense strategically and are financially accretive. It recommends that patient, long-term investors buy the stock.
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