News Summary

Shares of Abbott Laboratories ABT gained about 1% after the company reported its Q1 profit at $864 million, or $0.55 per share, down from $1 billion, or $0.64 per share, in the year-ago period. The company's net sales increased to $9.04 billion from $7.70 billion. On an adjusted basis, the company's net income came in at $0.91 per share, up from $0.81 per share, in the year-ago quarter. However, analysts were expecting earnings of $0.90 per share. Shares of AT&T T gained about 0.1% after the company's Q1 profit jumped 39% y/y to $3.41 billion, or $0.57 per share. The company's total operating revenues increased 2.3% y/y to $31.25 billion, from $30.53 billion. However, analysts were expecting earnings of $0.57 per share. Shares of Eaton Corp ETN fell about 1.2% after the company reported its Q1 profit at $287 million, or $0.83 per share, versus $155 million, or $0.46 per share, in the year-ago period. Excluding acquisition integration charges, the company's operating earnings came in at $0.84 per share. However, analysts expected earnings of $0.80 per share. Eaton's sales surged 23% to $3.8 billion. The company projects Q2 profit, excluding integration costs, of $0.90 to $0.96 per share. The company also lifted its full-year net income projections to a range of $3.66 to $3.96 and operating earnings forecast to a range of $3.70 to $4 per share. Read more from Benzinga's Markets.