Shares of ABB fall off 2% premarket after the Swiss firm snapped up Newave for CHF 170M ($184M)...

|About: ABB LTD. (ABB)|By:, SA News Editor

Shares of ABB fall off 2% premarket after the Swiss firm snapped up Newave for CHF 170M ($184M) to broaden its position in the uninterruptible power supply market. The acquisition is just the latest in a string of deals as the firm starts to put its large cash position - $1B at the end of Q3 - to work.