Abb Share Discussion Threads

[waldron] 31/8/2007 07:11

ABB: A Swiss 'power' play on Asia
Posted Aug 30th 2007 2:30PM by Steven Halpern
Filed under: International markets, India, China, Newsletters, Bargain stocks, Stocks to Buy

"Looking beyond the current market troubles, Asia remains the region of choice for serious long-term investors," says global expert Yiannis Mostrous in The Silk Road Investor.

"Look for Asia to surprise to the upside during the second half of 2007," he says, noting, "Asia's share of the global economy has grown from 31% in the early 1990s to 38% today. This economic transformation is still in its early stages. Asia is leading a great global economic transformation and will be the engine of growth for years to come.

For exposure to growth in Asia and other emerging economies, the advisor is attracted to Switzerland's ABB (NYSE: ABB), a global provider of power and automation technologies. The company operates five divisions: Power Products, Power Systems, Automation Products, Process Automation and Robotics.

Mostrous notes, "ABB offers also direct exposure to India." He explains, "ABB is the world's leader in transmission grids, and it will benefit tremendously from India." Overall, he points out that ABB is enjoying strong growth of 20% quarter over quarter, and backlog orders have grown by 33% since 2006 to $20.4 billion.

More important, he adds, the company boasts a $2.4 billion cash position, which he believes could double in the years head. Says Mostrous, "I expect that cash to fund a dividend increase, a share buyback program or an acquisition." He rates the stock a buy.

Each day, Steven Halpern's TheStockAdvisors.com features the latest investment ideas and market commentary from the financial newsletter community.

[waldron] 30/8/2007 11:44

ABB "overweight"

Thursday, August 30, 2007 6:20:20 AM ET
J.P. Morgan Securities

LONDON, August 30 (newratings.com) - Analysts at JP Morgan maintain their "overweight" rating on ABB Ltd (ABJ.ETR). The target price is set to CHF30.

In a research note published this morning, the analysts mention that the company is set to announce its targets and strategy for 2011. ABB is likely to target margin expansion in the range of 12%-16%, the analysts say. ABB's stock is expected to perform well in the near term on account of the company's end-market exposure and robust execution record, JP Morgan adds.

[waldron] 29/8/2007 19:02

ABB "restricted"

Wednesday, August 29, 2007 0:10:40 AM ET
Credit Suisse

LONDON, August 29 (newratings.com) – Analyst J Mitchell of Credit Suisse maintains his "restricted" rating on ABB Ltd (ABJ.ETR).

In a research note published yesterday, the analyst mentions that the announcement of ABB's strategy and targets for 2007-2011 is expected to underline the company's earnings growth potential and lend upside to the share price. ABB is likely to achieve an 8% CAGR in organic revenues in 2007-2011, the analyst says.

[waldron] 29/8/2007 07:13

ABB "buy"

Tuesday, August 28, 2007 2:33:28 PM ET
Deutsche Securities

LONDON, August 28 (newratings.com) - Analysts at Deutsche Bank Securities reiterate their "buy" rating on ABB Ltd (ABJ.ETR). The target price is set to CHF32.

In a research note published this morning, the analysts mention that the company is likely to target 14%-16% growth in group margins. The global Power T&D potential continues to be robust and the emerging markets represent 44% of ABB's sales, the analysts say.

[waldron] 27/8/2007 15:10

ABB to Sell Lummus Division to Chicago Bridge & Iron (Update3)

By Jacob Greber and Antonio Ligi

Aug. 27 (Bloomberg) -- ABB Ltd., the world's largest maker of factory robots, will sell Lummus Global to Chicago Bridge & Iron Co. for $950 million. The Swiss company will remain liable for possible fines over ``suspect payments'' at the unit.

Lummus, a U.S.-based provider of project management and engineering services to the oil and gas industries, employs about 2,400 people and had revenue of $988 million last year, Zurich-based ABB said in a statement today. CB & I, a Dutch builder of natural gas plants that's traded in New York, said the deal will close in the fourth quarter.

The division contributed to the near demise of ABB in 2002, when the Swiss company struggled with thousands of inherited asbestos claims and losses of almost $2 billion over a four-year period. ABB said it discovered ``certain suspect payments'' associated with Lummus in a number of countries and reported them to the U.S. Department of Justice and Securities and Exchange Commission.

``The price is better than expected,'' said Mark Diethelm, a Zuercher Kantonalbank analyst with an ``overweight'' rating on the stock. ``The disclosure about bribe payments clouds the positive news a bit.''

ABB rose as much as 60 centimes, or 2.1 percent, to 28.9 francs on the Swiss Stock Exchange and was trading at 28.65 francs as of 1:07 a.m. in Zurich, giving a market value of 65.5 billion francs. The share rose 31 percent this year.

Cash Pile

Chief Executive Officer Fred Kindle plans to expand ABB through acquisitions after he and predecessor Juergen Dormann returned the company to profit by cutting 45,000 jobs and selling units from financial services to wind energy. The CEO said in December ABB has ``several'' billion dollars to spend on acquisitions and last month said the company is continuing to assess its opportunities.

``ABB's cash is even bigger now, but I still expect a disciplined approach to acquisitions,'' Zuercher Kantonalbank's Diethelm said.

The purchase price for Lummus reflects the ``enterprise value'' of the unit, ABB said. That is defined as a company's market value, preferred equity and short and long-term interest-bearing debut minus cash.

The Swiss company resolved the bulk of its asbestos claims at its Combustion Engineering division last year with a $1.43 billion settlement plan. Lummus filed for bankruptcy in 2006 to resolve remaining actions and ABB had said it would sell the business ``when market and other conditions'' were appropriate.

`Final Milestone'

The sale is the ``final milestone'' in ABB's strategy of selling off units to focus on its power and automation technology businesses, Kindle said in the statement.

ABB in July said it had informed U.S. authorities about suspicious payments made by some of its units. Company spokesman Thomas Schmidt today said that part of that statement applied to Lummus.

Zuercher Kantonalbank's Diethelm said ABB will probably receive about $900 million in the deal.

The proceeds from the sale would add to ABB's cash pile, which is expected to grow to as much as $8.6 billion by the end of 2007, analysts including Gerard Moore of Societe General estimated before today.

Chicago Bridge & Iron, a builder of liquid natural gas terminals and other facilities for natural-resources development, said the purchase will be funded using a combination of cash and debt and a possible issuance of common stock following the acquisition.

`Full-Scale Capabilities'

``The acquisition transforms CB & I into a fully integrated provider with full-scale capabilities in the global hydrocarbon sector,'' CEO Philip Asherman said in a separate statement on the company's Web site.

The sale still needs the approval of shareholders and regulators and is expected to close in the fourth quarter of this year pending shareholder and regulatory approval.

CB & I is based in Hoofddorp, the Netherlands, with most of its U.S. operations located in The Woodlands, near Houston, Texas. The company has about 14,000 employees and, expects Lummus to generate sales of about $1 billion this year, it said.

Asbestos, a heat-resistant material used in insulation, auto parts and construction products since the early 1900s, can cause respiratory illness and has been linked to a rare and lethal form of cancer that can surface years after exposure.

To contact the reporters of this story: Jacob Greber in Zurich at [e-mail] ; Antonio Ligi in Zurich at [e-mail] .

Last Updated: August 27, 2007 07:08 EDT

[waldron] 27/8/2007 14:58

August 27, 2007 - 12:16 PM
ABB sells Lummus but finds "suspect payments"

Image caption: ABB is set to make acquisitions in its core businesses (Keystone)

The ABB engineering group is to sell its Lummus Global oil and gas business in a move that will end its divestment programme and swell its coffers for acquisitions.
ABB said on Monday it was selling the business to the Chicago Bridge and Iron Company (CB&I), which is based in the Netherlands, for an enterprise value of $950 million (SFr1.143 billion).


However, ABB said it had found "certain suspect payments in a number of countries" in connection with the divestment of Lummus and had reported these to the United States Department of Justice and the Securities and Exchange Commission.



ABB, which has recovered from a long restructuring drive, had wanted to divest Lummus Global for some time, after settling asbestos claims against it in August last year, with costs of about $40 million.



Five months earlier a US court confirmed the company's $1.43 billion asbestos settlement plan for its larger US unit, Combustion Engineering.



Claimants demanded compensation after exposure to the substance, which can cause cancer and other diseases.


Final milestone

"The divestment of Lummus Global is the final milestone in our strategy of focusing on our highly successful core business in power and automation technology," ABB chief executive Fred Kindle said in a statement on Monday.



CB&I is to buy the entire Lummus business, which supplies services to the oil and gas, petroleum refining and petrochemical process industries, and had revenues of $988 million in 2006 and around 2,400 employees.



CB&I said it expected the acquisition to close in the fourth quarter of this year and to boost 2008 earnings.



"Once again ABB has proven its astute handling of a difficult divestment, which two to three years ago could only have been sold at a huge loss," commented Panagiotis Spiliopoulos.



"We expect ABB to generate a small book gain out of this sale."


Acquisitions

In an interview with the SonntagsZeitung newspaper, CEO Kindle said ABB was aiming for acquisitions in its core businesses, looking rather to North America and emerging markets than to Europe.



ABB said on Monday it was cooperating fully with the authorities on the suspect payments issue and continuing its internal investigations. It added that it retained liability for potential fines and penalties.



The group reported in July that it might have violated anti-bribery laws such as the Foreign Companies Practices Act or other applicable laws.



ABB disclosed to the US Department of Justice and the US Securities and Exchange Commission suspect payments made by employees of company subsidiaries in Asia, South America and Europe, in particular Italy.



If ABB is found to have violated any of these laws, the company could be liable for penalties and other costs and the violations could otherwise negatively impact its business.



The group said at the time it was looking into several cases of suspect payments and it was unclear whether they were linked.



swissinfo with agencies



ASBESTOS

In 1990 ABB bought US firm Combustion Engineering, that had produced boilers lined with asbestos in the 1970s, despite the fact that Combustion was already facing limited asbestos litigation.



Lawsuits skyrocketed in the mid-1990s and in February 2003 Combustion filed for bankruptcy protection since its asbestos liability was expected to exceed the company's book assets of $812 million.



ABB proposed a $1.2 billion trust fund to cover future claims, including cash and shares, but this was rejected by a court in December 2004 because of the inclusion of Lummus Global in the package.



The final settlements approved in 2006 entail costs to ABB of SFr1.43 billion in the case of Combustion Engineering and about $40 million for Lummus Global.



KEY FACTS

First-half figures:
Turnover - $13.358 billion (compared with $10.78 billion in the first half last year)
Earnings before interest and taxes (Ebit) - $1.852 billion ($1.137 billion)
Net income - $1.266 billion ($571 million)
Employees: Around 111,000 at the end of June, 2007

LINKS

ABB (
ABB statement (
ABB Lummus Global (
ABB Switzerland (
ABB share price (

--------------------------------------------------------------------------------


URL of this story:

[waldron] 27/8/2007 08:05

Chicago Bridge & Iro ABB sells Lummus Global to CB&I in deal worth 950 mln usd UPDATE


(Updating with background to Lummus sale)
ZURICH (Thomson Financial) - Swedish-Swiss engineering group ABB Ltd said it
has agreed to sell its Lummus Global business to Chicago Bridge & Iron Company
(CB&I) in a deal worth 950 mln usd.
The sale is subject to regulatory approvals and approval by CB&I's
shareholders.
ABB also said that in connection with the divestment, it has discovered
certain "suspect payments" in a number of countries.
The engineering group said it has reported these suspected payments to the
US Department of Justice (DoJ) and the Securities and Exchange Commission (SEC)
and is fully cooperating with the authorities.
ABB also said that it retains liability for potential fines and penalties.
The divestment of Lummus Global, which had been long awaited, is "the final
milestone" in ABB's strategy to focus on its core business in power and
automation technology, chief executive Fred Kindle commented.
Under the terms of the agreement, Dutch-based CB&I will purchase the entire
Lummus Global business.
Lummus employs about 2,400 people and recorded sales of 988 mln usd in 2006.
ABB's core automation and power businesses remain committed to the oil and
gas sector and will maintain and develop their long-standing relationships with
key customers, it said.
The sale of the unit, which was part of ABB's discontinued operations, had
been postponed in the past over the unit's asbestos liabilities.
Earlier this year, ABB said that all the asbestos liabilities against its
ABB Lummus Global had been resolved and that it had exited Chapter 11
protection. Subseqently, ABB had initiated the sales process.
[e-mail]
at/ejp/at/bsd

[waldron] 27/8/2007 06:47

ABB sells Lummus Global to CB&I for 950 mln usd; 'suspect payments' discovered
Date : 27/08/2007 @ 06:38
Source : TFN


ABB sells Lummus Global to CB&I for 950 mln usd; 'suspect payments' discovered


ZURICH (Thomson Financial) - Swedish-Swiss engineering group ABB Ltd said it
has agreed to sell its Lummus Global business to Chicago Bridge & Iron Company
(CB&I) in a deal worth 950 mln usd.
The sale is subject to regulatory approvals and approval by CB&I's
shareholders.
ABB also said that in connection with the divestment, it has discovered
certain "suspect payments" in a number of countries.
The engineering group said it has reported these suspected payments to the
US Department of Justice (DoJ) and the Securities and Exchange Commission (SEC)
and is fully cooperating with the authorities.
ABB also said that it retains liability for potential fines and penalties.
The divestment of Lummus Global, which had been long awaited, is "the final
milestone" in ABB's strategy to focus on its core business in power and
automation technology, chief executive Fred Kindle commented.
Under the terms of the agreement, Dutch-based CB&I will purchase the entire
Lummus Global business.
Lummus employs about 2,400 people and recorded sales of 988 mln usd in 2006.
ABB's core automation and power businesses remain committed to the oil and
gas sector and will maintain and develop their long-standing relationships with
key customers, it said.

[e-mail]
at/ejp

[waldron] 27/8/2007 05:53

For a comprehensive look at the U.S. government's plan to integrate the U.S., Mexico and Canada into a North American super-state – guided by the powerful but secretive Council on Foreign Relations – read "PREMEDITATED MERGER," a special edition of WND's acclaimed monthly Whistleblower magazine.

[waldron] 26/8/2007 17:33

ABB still sees big deal ahead, no provisions for bribery penalty payments - CEO
Date : 26/08/2007 @ 17:23
Source : TFN


ABB still sees big deal ahead, no provisions for bribery penalty payments - CEO


ZURICH (Thomson Financial) - ABB Ltd still sees potential for a
mega-acquisition, after the Swedish-Swiss engineering firm said it is open to
consider acquisitions of any size as of mid-2007.
Acquisitions in the billions could lie ahead, chief executive Fred Kindel
said an interview with Swiss Sunday paper SonnstagsZeitung.
"We know where we want to strengthen: in the product business of automation
and energy technology and geographically preferably in North America and in
emerging markets rather than in Europe," Kindle said.
He added that so far the engineering giant had refrained from a large deal
due to high prices.
Kindel dismissed the possibility that a recent drop in share price has put
the group at risk of becoming a target itself.
The chief executive also said that ABB has made no financial provisions for
potential penalty, after the group announced last month that it may have
violated a US anti-bribery law and had notified authorities after spotting
suspect payments made by employees abroad.
"Currently there are no provisions," Kindle said adding that the group was
unable to estimate the size of any potential payment.

[e-mail]
jmt/gp

[waldron] 26/8/2007 11:21

ABB reiterates acquisition policy; won't comment on Legrand, Rockwell rumours
Date : 12/07/2007 @ 13:26
Source : TFN
Stock : Abb Ltd (ANN)
Quote : 1173.0 19.5 (1.69%) @ 15:59

ABB reiterates acquisition policy; won't comment on Legrand, Rockwell rumours


ZURICH (Thomson Financial) - ABB Ltd declined to comment on market rumours
that it is eyeing France's Legrand or the US's Rockwell Automation Inc as
potential takeover targets.
But a spokesman said the Swiss-Swedish engineering company's previously
announced acquisition policy is still in force, which would in theory now allow
to bid for a rival of that size.
According to its acquisition guidelines, ABB had been unlikely to consider
any deal costing more than 700 mln usd.
Given Legrand achieved 3.74 bln eur in sales in 2006 and Rockwell reported
5.56 bln usd, that would have put both companies out of reach.
But since mid-year it has been open to considering acquisitions of any size
provided they fall within ABB's strategic criteria and financing capability.
ABB registered 2.5 bln usd net cash on its balance sheet in the first
quarter, enabling it carry out significant transactions, the spokesman added.
However, he reiterated that ABB continues to takes a very disciplined
approach to acquisitions, focusing on strategic fit, integration costs and
opportunities as well as price.
"If we think the fit is not right, we cannot integrate because we have too
many other things to do, or the price is not right, we're not going to do it,"
ABB chief executive Fred Kindel commented earlier this year.




[e-mail]
jmt/jms

[grupo guitarlumber] 25/8/2007 05:57

Stock Buybacks: Who Benefits The Most?
When a company buys back its own stock, there are many advantages to the investor. However, there is a major advantage of stock buybacks to the company managers that we don't normally hear about.

First, let's talk about why we like stock buybacks.

Advantages to the Investor

Buying back stock means that the company earnings are now split among fewer shares, meaning higher earnings per share (EPS). Theoretically, higher earnings per share should command a higher stock price which is great!
Buying back stock uses up excess cash. The returns on excess cash in money market accounts can drag down overall company performance. Cash rich companies are also very attractive takeover targets. Buying back stock allows the company to earn a better return on excess cash and keep itself from becoming a takeover target.
Buying back stock allows a company to pass on extra cash to shareholders without raising the dividend. If the cash is temporary in nature it may prove more beneficial to pass on value to shareholders through buybacks rather than raising the dividend.
Buying back stock can increase the return on equity (ROE). This effect is greater the more undervalued the shares are when they are repurchased. If shares are undervalued, this may be the most profitable course of action for the company.
When a company purchases its own stock it is essentially telling the market that they think that the company's stock is undervalued. This can have a psychological effect on the market.
Stock buybacks also raise the demand for the stock on the open market. This point is rather self explanatory as the company is competing against other investors to purchase shares of its own stock.
What Management Doesn't Want You To Know!

There are several reasons why management would prefer to buy back stock rather than raise the dividend.

The first reason is that upper management typically will receive compensation that is tied to the company stock price. What this means is that they typically make more money when the stock price goes up. This compensation may come in the form of stock options, rights or other forms.

In the short term management believes that dividends may work against the stock price of a company by reducing the book value of the stock. In addition, if managers have stock options, they do not immediately benefit from dividends as their options do not qualify for dividend payments.

On the other hand, when a stock buyback occurs the short term implications on the stock price are typically positive (due to the previous listed reasons). And, since this allows management to see the most immediate results to their compensation, it is no wonder that managers prefer stock buybacks as opposed to dividend increases.

What to Watch For

As an average investor, it is beneficial to us to look for companies that have both the cash-flow to buy back shares as well as regularly increase their dividends. These can be some of the best long term investments because the company finds multiple ways to increase shareholder value

[waldron] 23/8/2007 11:05

ABB wins 56 mln usd China steel mill contract
Date : 23/08/2007 @ 10:25
Source : TFN


ABB wins 56 mln usd China steel mill contract


ZURICH (Thomson Financial) - ABB Ltd said it has won a 56 mln usd contract
to provide automation equipment and electrical systems for a high-efficiency
steel mill to be built by Zhangjiagang GTA Plate in eastern China.
ABB's scope of supply covers a broad range of electrical and automation
technologies, including process modelling, process controls with human
interface, drives and motors, and Manufacturing Execution Systems (MES) to
accurately track the processing of steel coils, the Swedish-Swiss engineering
firm said.
ABB will also provide startup services and training.
The new steel mill will have an annual capacity of 3.5 mln tons and is set
to begin operations in late 2009, ABB said.
[e-mail]
jmt/slj

[waldron] 20/8/2007 17:13

ABB wins aluminium plant contract from Qatalum worth 140 mln usd


ZURICH (Thomson Financial) - ABB Ltd said it has won a 140 mln usd contract
from Qatalum, a joint venture between Qatar Petroleum and Norway's Hydro
Aluminium, to construct the world's largest aluminium plant built in one phase.
Deliveries to the site will begin in the fourth quarter of 2008, with
production expected to start in late 2009, said ABB.
ABB will supply a high-voltage power station and cabling, as well as
engineering, training, installation and commissioning.
The Qatalum project will include an aluminium smelter with a capacity of
585,000 tonnes per year and will be located in the Mesaieed Industrial City,
near Doha.
ABB said it has equipped an estimated 80 pct of the smelting facilities in
the Gulf region.
[e-mail]
at/sf/rfw

[waldron] 14/8/2007 10:30

Ericsson "buy"

Monday, August 13, 2007 8:35:03 AM ET
Dresdner Kleinwort Wasser.

LONDON, August 13 (newratings.com) - Analysts at Dresdner Kleinwort maintain their "buy" rating on Ericsson (ERCB.ETR). The target price is set to SEK46.

In a research note published this morning, the analysts mention that the investors might have better recognized the strength in Ericsson's top-line momentum, if the company would have chosen to present its revenues in US dollars, like ABB. Ericssion as well as the majority of its peers is expected to benefit from the renormalized business activity going forward, the analysts say.

[waldron] 08/8/2007 16:19

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ZURICH (Thomson Financial) - Share prices were higher in afternoon trade, extending gains on the back of higher Wall Street futures, with selected blue chips outperforming, including Swisscom, which posted consensus-beating first half results.

At 2.25 pm, the Swiss Market Index was 1.5 pct, or 129.94 points, higher at 8,877.40, while the Swiss Performance Index was 1.4 pct, or 103.61 points, higher at 7,261.49.

The euro rose to 1.6471 sfr, while the dollar was higher at 1.1959 sfr.

The quarterly reports of several companies provided momentum to the local market, with the results of Swisscom (nyse: SCM - news - people ) taking centre stage, said a Credit Suisse analyst.

Positive sentiment is also underpinned by indications for a higher Wall Street opening, with investors' nervousness soothed by positive comments made the Federal Reserve following its decision to leave rates unchanged yesterday.

Swisscom rose 4.2 pct, or 17.25 sfr, at 428.25 after reporting a first half net profit of 936 mln sfr, up from 758 mln sfr on the year-earlier period, with results boosted by the absence of last year's one-off costs and the first-time integration of Italy's Fastweb.

Analysts had called for a net profit of 867-1.028 bln sfr, or 922 mln on average.

The Swiss telecoms group also issued full year guidance for the consolidated group for the first time, with a revenue guidance of 11.2-11.3 bln sfr and an EBITDA target of 4.4-4.5 bln sfr.

Nobel Biocare was another market leader, rising 4.6 pct, or 16.25 sfr, to 368.50, gaining momentum ahead of its second quarter results tomorrow.

ABB (nyse: ABB - news - people ) also surged 4 pct, or 1.10 sfr, at 28.80 on the back of Morgan Stanley (nyse: MS - news - people )'s upgrade to 'overweight' and a new target price of 35 sfr.

In chemicals, Synthes climbed 3 pct, or 4.2 sfr, to 144.80 ahead of its first half-year results tomorrow.

Elsewhere in the sector, Clariant rose 3 pct, or 0.50 sfr, to 17.15, and Ciba was 1.3 pct, or 0.95 sfr, higher at 72.40.

Banking stocks were up across the board, with Julius Baer up 2.4 pct, or 1.95 sfr, at 81.95, and Credit Suisse gaining 1.9 pct, or 1.55 sfr, at 84.80.

UBS (nyse: UBS - news - people ) rose 1.7 pct, or 1.15 sfr, to 67.55.

In pharmaceuticals, Roche was 1 pct, or 2.10 sfr, higher at 212.20, while Novartis (nyse: NVS - news - people ) climbed 1.1 pct, or 0.75 sfr, at 66.25.

Outside the SMI, shares in Sonova/Phonak were 1.6 pct higher, with investors welcoming news that the Swiss hearing aid maker has pulled out of its attempted takeover of GN Nord's ReSound after a German regional court upheld a ban on competition grounds earlier today.

Swiss dental implant group Straumann rose 3.2 pct, or 11 sfr, to 348, after it reported an expectation-beating first half net profit of 94.9 mln sfr, up 34 pct from 70.9 mln sfr a year earlier, boosted by strong demand in Europe.


[e-mail]

sf/lce

[waldron] 08/8/2007 09:59

Swiss shares TFN at a glance outlook
Date : 08/08/2007 @ 07:42
Source : TFN


Swiss shares TFN at a glance outlook


ZURICH (Thomson Financial) - Share prices are expected to open higher,
extending yesterday's gains, with Swisscom in focus after reporting an
expectations-beating first-half net profit.
In pre-bourse trading, the Swiss Market Index was 28.18 points higher at
8,775.14.
Yesterday, the Swiss Market Index closed 107.09 points higher, or 1.2 pct,
at 8,746.97, and the Swiss Performance Index closed 81.20 points higher, or 1.1
pct, at 7,157.88.

FORTHCOMING EVENTS
TODAY
-none

TOMORROW
-Nobel Biocare Q2 results
-Synthes H1 results
-Geberit H1 results
-Panalpina H1 results
-Interroll Holding H1 results

TODAY'S PRESS
-none

COMPANY NEWS
-Swisscom H1 net beats forecasts, issues fresh guidance
-Straumann posts consensus-beating H1 net, hikes FY sales forecasts
-Straumann buys Korean distributor BI Trading for 12 mln sfr, US bone ban
change

MACROECONOMIC NEWS
-Swiss July unemployment unchanged at 2.5 pct, in line with forecasts

MARKET NEWS/SENTIMENT
-ABB upgraded to 'overweight' from 'equal-weight' by Morgan Stanley, ups
target by 67 pct
-Richemont target price upped by Credit Suisse to 83.30 sfr, from 80 sfr,
'outperform' rating reiterated
[e-mail]
sf/ajb

[waldron] 08/8/2007 09:53

Swiss shares TFN market data at 9.15 am - higher tracking gains on Wall St
Date : 08/08/2007 @ 08:39
Source : TFN


Swiss shares TFN market data at 9.15 am - higher tracking gains on Wall St


ZURICH (Thomson Financial) - Market data at 9.15 am

Major Indices:
Swiss Market Index 8,819.87, up 70.91 points
Swiss Performance Index 7,214.51, up 56.63 points

Major gainers:
-Swisscom, up 2.1 pct, or 8.50 sfr, at 420, after better-than-expected H1
results
-ABB, up 2.3 pct, or 0.65 sfr, at 29.35, after Morgan Stanley hiked rating
to 'overweight'
-Nobel Biocare, up 2.5 pct, or 8.75 sfr, at 361, ahead of Q2 results
tomorrow

Major losers:
-SGS, down 5 sfr at 1,472



[e-mail]
sf/jlw

[waldron] 05/8/2007 09:35

2008


February 14 Fourth-quarter and full-year 2007 results
April 24 First-quarter 2008 results
May 8 Annual General Meeting Zurich/Switzerland
May 9 Annual general information meeting Västerås/Sweden
May 14 Ex-dividend date
July 24 Second-quarter 2008 results
October 23 Third-quarter 2008 results

[waldron] 05/8/2007 09:29

September 5,2007 ABB Strategy and Targets 2007 - 2011 Zurich/Switzerland
October 25 ,2007 Third-quarter 2007 results