Key Highlights

● AbbVie rose to a 52-week high on Friday, October 30, 2026.

● Third-quarter Revenue of $17.404 billion beat the $17.36 billion forecast.

● Full-year adjusted EPS guidance rose to a range of $13.95 to $13.99.

● The quarterly Dividend increased to $1.82 a share.

AbbVie (NYSE:ABBV) rose to a 52-week high on Friday, October 30, 2026, after the drugmaker reported third-quarter results that beat expectations and raised its full-year profit outlook. Market data put the shares at $295.79 during the session.

Revenue for the quarter reached $17.404 billion, ahead of the $17.36 billion analysts had forecast. Adjusted Earnings Per Share were $3.82, above the $3.74 estimate.

AbbVie lifted its 2026 adjusted earnings per share guidance to a range of $13.95 to $13.99, up from $13.76 to $13.96. The higher outlook absorbs a $0.69 charge for acquired in-process research and development, meaning the company raised its forecast even after taking that cost into account.

A bigger dividend

The North Chicago, Illinois-based company also raised its quarterly dividend to $1.82 a share. AbbVie is known for immunology drugs such as Skyrizi and Rinvoq, along with a broad portfolio in oncology, neuroscience and aesthetics.

"AbbVie continues to deliver outstanding results, reflecting solid execution across our diverse portfolio," Robert A. Michael, chairman and chief executive, said.

Health care hits a record

AbbVie's gain was part of a broad move into health care. The sector hit a record high on Friday, according to market data, as investors pulled money out of chips and megacap technology and moved it into defensive industries. Regeneron Pharmaceuticals (NASDAQ:REGN) was the top gainer in the S&P 500 after a strong quarter, Gilead Sciences (NASDAQ:GILD) rose on its own results, and Eli Lilly (NYSE:LLY), Pfizer (NYSE:PFE) and Johnson & Johnson (NYSE:JNJ) reached 52-week highs.

The rotation could not stop a broad decline. The S&P 500 fell 140.32 points to 7,580.07. The Dow Jones Industrial Average lost 572.25 points to 51,770.31, and the Nasdaq Composite tumbled 747.73 points to 25,437.00, its worst day since June 5. The Russell 2000 dropped 47.37 points to 2,811.84.

The selloff began with Intel (NASDAQ:INTC), which plunged after a weak fourth-quarter forecast and a warning about cash burn. Chip stocks fell sharply in response, and the Philadelphia Semiconductor index closed at 10,688.80. Amazon (NASDAQ:AMZN)'s results, which showed negative trailing free cash flow, and continued weakness in Alphabet (NASDAQ:GOOGL) after its record drop on Thursday kept pressure on technology.

Other headwinds included oil above $100 a barrel, a reported $6.3 billion hack at crypto exchange Binance and a Federal Reserve that markets now expect to raise rates in December. The Central Bank left its benchmark rate range unchanged on Wednesday, with two officials dissenting in favor of a hike.

A senior market strategist described the mood: "The love-hate relationship with tech and AI continues, and investors are becoming more discerning following earnings."

Six of the 11 S&P 500 sectors finished higher, led by energy, consumer staples, utilities and health care. The equal-weight S&P 500 fell far less than the cap-weighted index, showing that the damage was concentrated in the largest technology names.

What to watch

AbbVie's next milestone is delivering on its raised guidance through the fourth quarter. Investors will watch the performance of its newer immunology drugs and the pace of growth across its other franchises.

The wider calendar also matters for defensive stocks. Pfizer reports on Tuesday, November 3, the same day as the midterm elections. Apple (NASDAQ:AAPL) reports on Monday, November 2, and the October jobs report arrives on Friday, November 6. Whether the shift into health care continues may depend on how those events shape views on technology and interest rates.