US Stock Market Move | Abbott Laboratories (ABT.US) rose 6% and plans to expand its U.S. factory to address tariff challenges.

On Wednesday, Abbott Laboratories (ABT.US) rose 6%, reaching $133.81. Abbott Laboratories announced that its first-quarter sales were $10.4 billion, meeting market expectations. Medical device sales were $4.9 billion, slightly exceeding the market expectation of $4.85 billion. Adjusted earnings per share were $1.09, slightly higher than the market expectation of $1.07. Amid the tariff uncertainties in the medical industry, Abbott Laboratories plans to expand its manufacturing operations in the United States. On Wednesday, Abbott Laboratories stated that it plans to invest $500 million in two factories in Illinois and Texas. A spokesperson mentioned that these investments will be used to expand existing factories and promote research and development in the United States. The company plans to hire up to 200 people in Illinois and up to 100 people in Texas to support this effort.