• 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
  • 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.
    • Press Release
    | Wed, Apr. 20, 6:10 AM
  • Wed, Mar. 16, 2:44 PM
    • ABB's (ABB +2.8%) second largest shareholder, activist investor Cevian, has hired Boston Consulting Group to analyze a potential breakup of the company, Reuters reports, citing Germany's Manager Magazin.
    • The idea of breaking up ABB has swirled for months amid pressure from Cevian, which has boosted its stake to more than 5% and said the company must speed up efforts to simplify its structure.
    • ABB has opposed a major break-up of its energy and automation businesses but have left open the door for some divestments, according to the report.
    | Wed, Mar. 16, 2:44 PM | 4 Comments
  • Wed, Feb. 3, 7:42 AM
    • ABB's net profit for Q4 fell 70% to $204M as the company booked restructuring charges meant to cut costs amid slumping demand from China and the oil and gas industry.
    • "You see a large charge coming in the fourth quarter that hits our bottom line but this is basically the result of us doing homework and making sure the company is lean and agile to fight the a pretty difficult environment," said CEO Ulrich Spiesshofer.
    • Cost reductions and productivity improvement helped the company increase its margin, with the operating margin for EBITA increasing 60 basis points to 11.7%.
    • ABB +1.9% premarket
    | Wed, Feb. 3, 7:42 AM | 1 Comment
  • Jun. 4, 2015, 9:58 AM
    • Activist investor Cevian Capital has taken a stake of more than 3% in ABB (ABB +5.4%), sending its shares to their highest in more than six months.
    • "We think ABB is a good company where we see a large value potential," Cevian Capital managing partner Christer Gardell told Reuters.
    | Jun. 4, 2015, 9:58 AM
  • Jun. 4, 2015, 9:14 AM
    | Jun. 4, 2015, 9:14 AM | 3 Comments
  • Jan. 20, 2015, 9:04 AM
    • After falling 1.1% on Friday following a downgrade from BNP Paribas, ABB (NYSE:ABB) shares are now down 1.5% premarket.
    • The company also reports that it has won an order worth around $28M to supply an electrical Balance-of-Plant solution for a water and power producer project in the UAE.
    • Previously: ABB slides in premarket action (Jan. 16 2015)
    | Jan. 20, 2015, 9:04 AM
  • Jan. 16, 2015, 7:11 AM
    • ABB (NYSE:ABB) shares are down over 3% premarket despite announcing on Thursday that it sees limited impact of a strong Swiss franc against the euro.
    • "From a business perspective, we have typically less than 5% of total consolidated revenues in Swiss francs, with the majority exported," said the Swiss engineering yesterday.
    • ABB was also downgraded to Underperform from Neutral this morning at Exane BNP Paribas.
    | Jan. 16, 2015, 7:11 AM | 1 Comment
  • Sep. 9, 2014, 9:25 AM
    • Following the report of its $4B share buyback, ABB (NYSE:ABB) has announced a new $103M contract from Vale (NYSE:VALE) to install electrical and automation systems at an iron ore mine in northern Brazil.
    • The order follows a previous $140M contract won by ABB to complete the first phase of Vale's S11D project, supplying and installing electrical equipment for the process plant that separates ore from spoil material.
    • ABB +1.9% premarket
    | Sep. 9, 2014, 9:25 AM
  • Sep. 9, 2014, 6:48 AM
    • In a move aimed at restoring investor confidence, ABB (NYSE:ABB) is planning a $4B share buyback amid its recent struggles with a slump in demand for power equipment in Europe.
    • ABB will buy the shares, equivalent to roughly 7.5% of ABB's outstanding share capital at the current share price, from Sept. 16 this year.
    • The Swiss engineering group also outlined new medium-term revenue and profitability targets which are less ambitious than those it had announced in 2011 under previous CEO Joe Hogan. ABB is now targeting average revenue growth of 4% to 7% a year between 2015 and 2020, in place of its previous target of 7% to 10%.
    • ABB also announced an $800M order from Scottish Hydro Electric Transmission to provide a high-voltage direct current power transmission link in northern Scotland.
    • ABB +2.6% premarket
    | Sep. 9, 2014, 6:48 AM | 1 Comment
  • Apr. 29, 2014, 9:30 AM
    • ABB's (ABB) power-systems business generated an operating loss of $29M as revenue fell by more than a fifth, although the company remains committed to the division. "We won't exit," says CEO Ulrich Spiesshofer. "We will fix it and get it back to prosperity." ABB will deepen the restructure of the business. It will also stop bidding for orders to construct solar-power plants.
    • Spiesshofer is watching the battle for Alstom between GE and Siemens closely, but stays tight-lipped about whether ABB would enter the fray. "When we have more to say about it, we will," he says.
    • Shares are -7.2%. (PR)
    • Previous
    | Apr. 29, 2014, 9:30 AM
  • Apr. 29, 2014, 9:12 AM
    | Apr. 29, 2014, 9:12 AM | 4 Comments
  • Apr. 29, 2014, 4:43 AM
    | Apr. 29, 2014, 4:43 AM
  • Jan. 22, 2014, 3:11 AM
    • ABB (ABB) will book $260M in charges on its Q4 earnings, due to delays to offshore wind projects because of winter storms and "some operational issues" at its Power Systems (PS) division.
    • Additional restructuring-related charges at the PS operations will also hit net income.
    • The company expects EPS to fall to $0.23 from $0.26 a year earlier and vs consensus of $0.40. Shares are -3.3% in Stockholm. (PR)
    | Jan. 22, 2014, 3:11 AM
  • Aug. 29, 2013, 3:18 PM
    • ABB (ABB -1.5%) dips after HSBC Securities cut the shares to an Underweight rating from Neutral on valuation. Price target information was not available.
    | Aug. 29, 2013, 3:18 PM
  • Jul. 25, 2013, 7:19 AM
    ABB (ABB): Q2 net profit +16% to $763M, below forecasts of $779M; Sales +6% to $10.2B, meeting estimates. Orders -7% to $9.31B, due to a restructuring of ABB's power unit and the challenging economy, which is causing major transmission investments to be postponed. ABB affirms outlook that 2013 will be flat vs 2012. Shares -5.1%. (PR)
    | Jul. 25, 2013, 7:19 AM
Company Description
ABB Ltd. engages in the provision of power and automation technologies. It offers products, systems, solutions, and services that are designed to boost productivity, increase power reliability and enhance energy efficiency. It operates through the following divisions: Power Grids,... More
Industry: Industrial Electrical Equipment
Country: Switzerland