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Thu, Jun. 4, 9:14 AM
Tue, Jan. 20, 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)
Fri, Jan. 16, 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.
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, 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
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)
Apr. 29, 2014, 9:12 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)
Aug. 29, 2013, 3:18 PM
Jul. 25, 2013, 7:19 AMABB (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 | Comment!
Apr. 24, 2013, 8:17 AM
Apr. 22, 2013, 2:52 PMPower-One's (PWER +56.8%) deal with ABB includes a "no shop" agreement and $20M breakup fee, and is supported by P-E firm Silver Lake (Power-One's biggest shareholder), says Stifel, which doubts a higher bid will arrive. Stifel notes Power-One's power supplies and solar inverters complement ABB's power control/quality offerings, and argues "the traditional inverter industry is facing a shakeout," as price/margin pressure, competition, and technology changes take their toll. Inverter vendor Enphase Energy (ENPH +4.7%) is up in sympathy. | Apr. 22, 2013, 2:52 PM | 5 Comments
Feb. 14, 2013, 5:49 AM
Feb. 14, 2013, 5:42 AM
ABB Ltd provides power and automation technologies. It offers products, systems, solutions and services that are designed to boost industrial productivity, increase power grid reliability, and enhance energy efficiency.
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