ABB Stock Recent News
ABB LATEST HEADLINES
The ISM's manufacturing Purchasing Managers' Index (PMI) slipped to 48.7 in May from April's reading of 49.2, falling short of estimates of 49.5 for the month. Additionally, the ISM also reported that new orders fell to 45.4 and prices paid also fell to 57.0.
ABB continues to see strong demand for electrification gear, and between long lead times and growing demand from data centers, grid modernization, and decarbonization, this is likely to continue. Both discrete and process automation markets are looking softer, but most short-cycle markets should be at or near their bottoms and the long-term outlook for automation demand is strong. A change at the top could represent some risk, as outgoing Bjorn Rosengren has done an excellent job, but the new CEO has deep experience at ABB.
ABB has agreed to buy the wiring accessories business of German rival Siemens in China, the Swiss engineering group said on Friday.
ABB provided strong returns of 20% CAGR over the past 5 years, but further growth may be unsustainable. ABB is well-positioned to benefit from potential AI growth. Revenue growth is expected to be 5-7% in 2024, supported by a strong order backlog.
ABB President of Robotics and Discrete Automation Sami Atiya spoke with Bloomberg's Ed Ludlow about his company's expansion in automation to support U.S. customers amid labor shortages, global supply chain disruptions and the desire to operate more sustainably.
As technology continues to advance at an unprecedented pace, robotics stands at the forefront of innovation. It can revolutionize industries from manufacturing to healthcare.
ABB has bought a company specialising in boosting the mobility of industrial robots - by using artificial intelligence and 3D vision to move around factories and warehouses.
Björn Rosengren, CEO at ABB, discusses the company's Capital Markets Day, his outlook for the Chinese economy, and how ABB is achieving its ambitious margin targets.
Björn Rosengren, CEO of ABB, discusses third-quarter earnings and analyses demand across China, Europe and North America.
Sami Atiya, president of ABB's Robotics and Discrete Automation division discusses the firm's plans on tech, artificial intelligence and innovation.