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  • Tue, Oct. 4, 10:44 AM
    • ABB (ABB +0.6%) says it will keep its Power Grids business, rejecting calls from some of its largest shareholders to spin off the unit.
    • Cevian Capital, ABB's second largest shareholder with a 6.2% stake, had wanted the unit to become a separate entity to streamline operations and increase shareholder value.
    • ABB also says it plans to buy back up to $3B of its shares during 2017-19, reaffirms its goal of generating 3%-6% annual revenue growth during 2015-20, and raised the target for a cost-savings plan launched last year by 30% to $1.3B.
    | Tue, Oct. 4, 10:44 AM
  • Fri, Sep. 30, 8:33 AM
    • ABB has completed a share buyback program announced in September 2014.
    • During the buyback, the company repurchased a total of ~171.3M registered shares, equivalent to 7.4% of its issued share capital at the launch of the program for a total amount of approximately $3.5B.
    | Fri, Sep. 30, 8:33 AM
  • Wed, Sep. 21, 7:31 AM
    • Under pressure from Cevian Capital to spin off its power-grid division, ABB said it will slim down the business by selling some operations to NKT Cables for $934M.
    • The sale of its high-voltage cable system to the Danish company also comes with a long-term supply agreement. Progress on the strategic review of the power-grids unit will be given Oct. 4, ABB said in a statement.
    • The sale is "sound and reasonable," but ABB should still spin off the power-grid division, Cevian co-founder Christer Gardell said by e-mail.
    • ABB +0.7% premarket
    | Wed, Sep. 21, 7:31 AM
  • Wed, Sep. 14, 9:08 AM
    • ABB has won an order worth around $35M from TransnetBW to upgrade a substation in Offenburg, in the southwest German state of Baden-Wuerttemberg.
    • Germany is implementing an energy transition plan, called "Energiewende," which entails a renewable energy target of at least 80% by 2050.
    | Wed, Sep. 14, 9:08 AM
  • Tue, Sep. 13, 8:02 AM
    • ABB spinning off its Power Grids unit into a separate business with its own listing would increase the value of shareholder's investment by more than 60%, according to Cevian Capital.
    • The two companies would have shares with a combined of "at least 35 Swiss francs," the activist shareholder added.
    • ABB is due to give an update on its review of the business next month.
    • The stock is up 0.5% premarket
    | Tue, Sep. 13, 8:02 AM
  • Fri, Aug. 5, 5:42 PM
    • Top gainers, as of 5.25 p.m.: ERI +3.6%. OCUL +3.4%. SWIR +2.5%. AZN +2.5%. LGF +2.2%.
    • Top losers, as of 5.25p.m.: CEMP -3.7%. ETFC -3.0%. LNTH -2.8%. ABB -2.6%. UL -2.3%.
    | Fri, Aug. 5, 5:42 PM
  • Tue, Jul. 26, 4:13 AM
    • The first round-the-world solar powered flight has been completed, after the Solar Impulse aircraft touched down in Abu Dhabi and finished a journey that began over a year ago.
    • The ABB-engineered plane is no heavier than a car, but has the wingspan of a Boeing 747. It's powered by 17,248 solar cells, runs on battery power at night and has an average airspeed of 46 mph.
    • Previously: ABB, Solar Impulse begin historic round-the-world flight (Mar. 10 2015)
    | Tue, Jul. 26, 4:13 AM
  • Thu, Jul. 21, 5:03 AM
    • ABB (NYSE:ABB): Q2 EPS of $0.35 beats by $0.09.
    • Revenue of $8.67B (-5.3% Y/Y) misses by $160M.
    • Press Release
    | Thu, Jul. 21, 5:03 AM
  • Wed, Jul. 20, 5:30 PM
    | Wed, Jul. 20, 5:30 PM | 13 Comments
  • Tue, Jul. 19, 9:41 AM
    • ABB (ABB +0.4%) has received orders worth over $300M to supply the world's first 1,100 kilovolt ultra-high-voltage direct current transmission link in China.
    • It will transmit power from the Xinjiang region to the Anhui province and set a new record in terms of voltage level, transmission capacity and distance.
    | Tue, Jul. 19, 9:41 AM
  • Thu, Jul. 14, 10:05 AM
    • ABB (ABB +2.1%) has won an order worth more than $30M from Norway's transmission system operator Statnett for two substations.
    • The increased transmission capacity will also facilitate the integration of new renewable energy sources and support the expansion of industrial production.
    | Thu, Jul. 14, 10:05 AM
  • Tue, Jun. 14, 10:13 AM
    • ABB (ABB -0.6%) has successfully commissioned five substations to integrate a 648 MW solar project at Kamuthi in the southern Indian state of Tamil Nadu to the national transmission grid.
    • The solar photovoltaic project - made up of five plants in a single location - is the largest of its kind in the world.
    | Tue, Jun. 14, 10:13 AM
  • Mon, Jun. 13, 7:53 AM
    • ABB has poached a Siemens executive (OTCPK:SIEGY) as it shakes up its automation unit, where profit margins have shrunk amid sluggish demand for the unit's motors, drives and factory robots.
    • The company named Sami Atiya as head of the Discrete Automation and Motion Division and relegated its former boss, Pekka Tiitinen, to head of the country's Finland operations.
    | Mon, Jun. 13, 7:53 AM
  • Tue, May 10, 9:46 AM
    • ABB (ABB +0.5%) has purchased SVIA, a leading provider in the fast-growing market of robot automation cells for machine tending.
    • These solutions, together with ABB’s position in the Internet of Things, will provide a unique set of value propositions to industrial customers worldwide.
    • The parties did not to disclose the value of the transaction.
    | Tue, May 10, 9:46 AM
  • Wed, May 4, 10:35 AM
    • ABB (ABB -0.7%) will deploy 40 special transformers to equip wind turbines for an offshore wind farm in the Irish Sea.
    • The MHI Vestas Offshore Wind turbines' 262 ft rotor blades sweep through an area equivalent of three soccer fields and can produce up to eight megawatts of power, making them the most powerful wind turbines in the world.
    | Wed, May 4, 10:35 AM | 1 Comment
  • Wed, Apr. 20, 6:10 AM
    • ABB (NYSE:ABB): Q1 EPS of $0.28 beats by $0.06.
    • Revenue of $7.9B (-7.7% Y/Y) misses by $170M.
    • Shares +3.31% PM.
    | Wed, Apr. 20, 6:10 AM