14:22 ET -- Abbott Laboratories is one of the most talked about companies in the U.S. across all news items in the last 12 hours, according to Factiva data. Abbott, which reported third-quarter earnings Wednesday morning, said sales fell due to declining Covid-19 testing and a manufacturing stoppage initiated in February for certain infant-formula products made at its facility in Sturgis, Mich., which just resumed in the third quarter. In the company's earnings call, CEO Robert B. Ford said Abbott recovered about half of the infant-formula market share that it had lost during the manufacturing stoppage. Meanwhile, CFO Robert Funck said the company isn't expecting Covid-19 cases and testing to have the kind of major surge this winter compared with the past two years. Shares are down 7%, at $97.64. Dow Jones & Co. owns Factiva. (susan.solan@wsj.com)

(END) Dow Jones Newswires

October 19, 2022 14:37 ET (18:37 GMT)

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