Abbott Lab’s stock bucks a broad market selloff, after quarterly profit extends a long streak of beats on the back of strong demand for diabetes products.

Abbott Laboratories will make new investments in US manufacturing, with the impact of tariffs on medical devices and diagnostics looming over the industry.

Abbott Laboratories forecasts an impact of "a few hundred million dollars" this year from Trump administration tariffs, Chief Executive Robert Ford told analysts Wednesday. The healthcare company sees the costs starting in the third quarter.