|Bid||18.64 x 2900|
|Ask||18.65 x 1300|
|Day's Range||18.55 - 18.74|
|52 Week Range||17.71 - 24.45|
|Beta (3Y Monthly)||1.06|
|PE Ratio (TTM)||26.21|
|Forward Dividend & Yield||0.79 (4.22%)|
|1y Target Est||20.81|
Rising cost of sales along with high debt levels impede ABB's (ABB) growth. Also, the GEIS integration is likely to dilute its margins in the upcoming quarters.
Swedish engineering group Sandvik's Chief Executive Officer Bjorn Rosengren will step down next year and will join Swiss-Swedish robotics and engineering group ABB Ltd as CEO, the companies said in separate statements on Sunday. Rosengren, who has a reputation for being ruthless with underperforming divisions, will join ABB in February next year, ABB said. Businesses which generate $3 billion of revenue, 11% of ABB's total annual sales, are now under review and could be sold off or closed down, Voser told Reuters in a recent interview.
(Bloomberg) -- Sandvik AB Chief Executive Officer Bjorn Rosengren has emerged as the front-runner for the top job at Swiss engineering giant ABB Ltd., according to people familiar with the matter.An announcement could be made in the coming weeks, though ABB has yet to make a final decision, said the people, who asked not to be identified as the deliberations are private. Both companies declined to comment. ABB shares rose as much as 2.7% Tuesday, while stock in Sandvik, a maker of cutting tools and mining equipment, fell as much as 2.1%.Rosengren, 60, a seasoned Swedish industrial executive, would be taking over at ABB from Chairman Peter Voser, who has been acting as interim CEO since Ulrich Spiesshofer surprised analysts in April by abruptly stepping down. Spiesshofer was under pressure from major investors. His nearly six-year stint at the helm of ABB was marked by meager stock returns and a public row with an activist shareholder, Cevian Capital.Voser, also 60, said on a conference call last week that ABB’s CEO search was going “better than planned.” Rosengren in May seemed to hint in an interview with daily Dagens Industri that his time at Sandvik may be nearing an end, saying he didn’t think people should stay on too long at one company as CEO and that five years might be enough. He has been in the top post at the Swedish manufacturer since 2015.Should Rosengren take on the CEO role at ABB, he would land at a company in the midst of an overhaul. ABB is selling the bulk of its power grid division to Hitachi Ltd. for about $6.4 billion, turning its focus on robotics and automation. Spiesshofer had long resisted the move, which was pushed by Cevian.Rosengren, who holds a post-graduate engineering degree from Chalmers University of Technology in Gothenburg, spent his formative years at Atlas Copco AB, where he was steeped in a management culture of decentralization and asset-light production that has been emulated at other Nordic companies.Speaking at his first capital markets day after arriving at Sandvik, he made clear his unhappiness with the centralized structure built up by his predecessor.Running Businesses“During my working life, the fundamentals of how I’ve been running businesses is a decentralized model,” Rosengren said. “I am convinced that we need to give our business managers the full accountability for their businesses. They need to own their costs as well as their revenues.”In announcing Spiesshofer’s departure, Voser pledged changes to the CEO role, saying it would evolve to focus on strategy and company culture while allowing ABB’s four businesses to be run more independently.Read: ABB CEO Leaves Abruptly After Years of Pressure From InvestorsThe style has been a key component of the turnaround Rosengren accomplished at Sandvik. He rebuilt shareholder confidence by delivering on financial goals ahead of schedule, having benefited from an uptick in demand. In addition to decentralizing Sandvik’s structure and reducing costs, he has sold units including a steel conveyor-belt business, and prepared for a spinoff of the company’s steel business.Shares in Sandvik have approximately doubled since Rosengren took the helm. Earlier this month, the company said it will cut 2,000 jobs as demand from the automotive and general engineering sectors weakened toward the end of the second quarter.At ABB, he would face a company that is emerging from a period of turmoil. Just before the former CEO’s exit, shareholder Artisan Partners added to the pressure by calling for a further breakup of the company through the separation of its electrification business. The proposal was later endorsed by Cevian co-founder Lars Forberg, who sits on ABB’s board.(Adds details about Rosengren from fourth paragraph.)\--With assistance from Leonard Kehnscherper.To contact the reporters on this story: Albertina Torsoli in Geneva at firstname.lastname@example.org;Jan-Henrik Förster in Zurich at email@example.com;Niclas Rolander in Stockholm at firstname.lastname@example.orgTo contact the editors responsible for this story: Lukas Strobl at email@example.com, ;Beth Mellor at firstname.lastname@example.org, Tara Patel, John BowkerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
For those of us who love cars, it's easy to find out what the next generation will be like: Just check out the newest racecars. In the electric vehicle (EV) world, that means keeping your finger to the pulse of Formula E racing.In the automotive world, major racing hubs are like the Silicon Valley of cars. Tech startups have their "incubators," where companies like Airbnb and Dropbox (NASDAQ:DBX) were born. And car companies have the speedway.In one brand-new racing league, the Electric Production Car Series, all of the entrants are Tesla (NASDAQ:TSLA) Model S. This car is not just another electric vehicle (EV) -- it's one of the greatest technological achievements of our age, with the ability to go from 0 to 60 miles per hour in just 2.5 seconds. And with even more power (and less weight), it becomes a top-of-the-line racecar.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Source: ElectricGTBut when it comes to racing electric vehicles, the big name is Formula E. These EVs are almost as fast as Formula One cars -- reaching 180 miles per hour on the straightaways -- but much quieter.If you've ever been to an auto race - or even heard obnoxiously loud cars on regular roads - you know how strange that is. When electric cars race, no one needs earplugs. And at everyday speeds, the cars are practically silent. After all, instead of the gasoline engine, there's just an electric motor.So, in this arena, the batteries are the stars of the show! * 7 Stocks Top Investors Are Buying Now In Formula E racing, the title sponsor is ABB Ltd. (NYSE:ABB), the Swiss industrial conglomerate -- and a major player in Europe's electric car infrastructure. So, naturally, the races are a chance for ABB to show off its tech. Outside the track, you'll see a big display of ABB's "Gen 2" racecar batteries.In the first Formula E races, pit crews had to rush out and change the batteries halfway through. They lasted about 25 minutes.The new batteries last for a full 45-minute race. And they're pretty massive. Source: ABB Formula E, YoutubeTo get the power they need -- which is equivalent to 300 laptops or 4,000 cell phones! -- these electric racecars devote half their weight (or roughly 750 pounds) to the battery.And ahead of last weekend's race in Red Hook, Brooklyn, one driver said, "We already know we're going to overheat the batteries."Right now, even top-of-the-line racecars, sporting the latest and greatest electric-vehicle technology, rely on the very same battery that powers your iPhone or laptop: the lithium-ion battery.Lithium-ion was originally developed for Sony camcorders back in the 1980s. And it was also in Samsung's (OTCMKTS:SSNLF) infamous "exploding phones."Remember when flight attendants were confiscating them? When the Samsung Galaxy Note 7 would overheat, it caught fire. And everything from Teslas to HP laptops have had the same issue with their lithium-ion batteries.Lithium-ion batteries have come a long way, but they are closing in on their limits.So you can see why major car companies -- and Formula E participants -- like Nissan (OTCMKTS:NSANY), BMW (OTCMKTS:BMWYY), and Volkswagen (OTCMKTS:VWAGY) are investing in next-generation batteries.This battery has: * Better energy density, making it smaller, lighter, but more powerful. * Shorter charging time due to fewer materials, which could produce a stronger current. One Chinese company, Enovate, is boasting a charge time of 80% in 15 minutes. That's twice as fast as Tesla. * Better safety. Unlike what we use now, this battery does not have toxic, flammable liquid inside. In one memorable test, a battery startup called Ionic Materials shot its with a Remington .22. It took three bullets, did not catch fire, and kept working!That's all great news for racecar drivers. And Formula E could be the perfect testing ground for this new technology.Volkswagen, which is already laying the groundwork to be fully electric by 2030, is working with a Silicon Valley startup to get these batteries into its cars and SUVs. The company is already one of the largest car manufacturers in the world, and if it can meet expectations I look for it to dominate electric vehicles, too -- largely thanks to this new battery.Audi, Porsche, and Mercedes all want these next-generation batteries in their fleets as soon as possible. So do General Motors (NYSE:GM), Ford Motor (NYSE:F), Toyota Motor (NYSE:TM), Honda Motor (NYSE:HMC), Mitsubishi Motors (OTCMKTS:MMTOF), and Hyundai Motor (OTCMKTS:HYMTF).I could go on…But as an investor, I'd rather own a pure play on the battery revolution. Invest Where "Big Auto" is Dropping Major CashI often talk about "picks and shovels" investing. And that's because if you look back at the 1849 Gold Rush, it was the folks supplying the picks and shovels who ultimately got rich.Therefore, at Investment Opportunities, I'm recommending companies that supply this new technology -- nicknamed the "Jesus Battery."Find out exactly what makes this battery so miraculous here.Any competitors that have it will CRUSH Tesla, which may as well flush all the money it's spending on lithium-ion batteries down the toilet.If you ever wanted to invest in the coming electric car revolution, but weren't sure how, THIS is your chance.I know I do.So I found a company that holds key patents.Automakers like Toyota are relying on this tiny company for its electric cars. Yet the company is totally off the radar.That makes now the right time to get in before everyone else. I've got a full presentation on the investment opportunity in this "Jesus Battery," which you can view for free by clicking here.Matthew McCall is the founder and president of Penn Financial Group, an investment advisory firm, as well as the editor of Investment Opportunities and Early Stage Investor. He has dedicated his career to getting investors into the world's biggest, most revolutionary trends BEFORE anyone else. The power of being "first" gave Matt's readers the chance to bank +2,438% in Stamps.com (STMP), +1,523% in Ulta Beauty (ULTA), +1,044% in Tesla (TSLA), +611% in Liquefied Natural Gas Limited (LNGLY), +324% in Bitcoin Services (BTSC), just to name a few. If you're interested in making triple-digit gains from the world's biggest investment trends BEFORE anyone else, click here to learn more about Matt McCall and his investments strategy today. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks Top Investors Are Buying Now * The 10 Best Cryptocurrencies to Keep on Your Radar * 7 Marijuana Penny Stocks That Could Triple (But You Won't Make Money) The post Formula E: Inside the "Silicon Valley of Cars" appeared first on InvestorPlace.
DOWNERS GROVE, Ill. , July 17, 2019 /PRNewswire/ -- Dover Fueling Solutions ("DFS") , a part of Dover (NYSE: DOV) that delivers advanced fuel dispensing equipment, electronic systems and payment, ...
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Kungsleden AB and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
Code-named “Project Clear Blue Sky,” a global manufacturing giant has tapped the Triangle region over Mississippi for 400 new jobs.
World-class money managers like Ken Griffin and Barry Rosenstein only invest their wealthy clients' money after undertaking a rigorous examination of any potential stock. They are particularly successful in this regard when it comes to small-cap stocks, which their peerless research gives them a big information advantage on when it comes to judging their worth. […]
Moody's Investors Service ("Moody's") has today upgraded Swedish real estate company Kungsleden AB (Kungsleden), assigning a long-term issuer rating of Baa3. Concurrently, Moody's has withdrawn Kungsleden's corporate family rating (CFR) of Ba1 following its upgrade to Baa3, as per the rating agency's practice for corporates with investment grade ratings. "The upgrade to Baa3 reflects Kungsleden's continued focus on improving asset quality through acqusitions and redevelopment of properies, increasing exposure towards its four focus cities that are benefitting from a currently positive economic environment and strong property fundamentals.
Meet Maryrose Sylvester: A competitive Midwesterner with a GE pedigree, a penchant for '80s music and high expectations for her new role, running the U.S. business for ABB from offices in Cary and Atlanta as country managing director and head of electrification for the U.S. at ABB.
A pair of ABB employees are trying to bring a class action complaint against the Swiss industrial manufacturer, alleging that a massive data breach compromised personal data for thousands of people participating in its health benefits plan.
The company's solid-state circuit breaker is the first ever to get the UL listing required for all consumer product sales. All manufacturing will be done in Charlotte.
Westinghouse Electric Co. has announced a change at the top. The Cranberry Township-based company said Thursday that José Emeterio Gutiérrez will step down as president and CEO on July 31 and will be succeeded by Patrick Fragman, effective Aug. 19. Fragman is group senior vice president at ABB Limited.
Supporting the development of energy efficient mobility solutions in Portland with Buy America charging solutions CARY, N.C. , May 1, 2019 /PRNewswire/ -- E-bus charging solutions from ABB, a global leader ...