Latest news with #electricalgrids
Yahoo
18-07-2025
- Business
- Yahoo
ABB CEO Morten Wierod on Data Centers, Automation Demand
Shares of Zurich-based industrial supplier ABB rallied Thursday morning after it reported record order intake in the second quarter and profit margins that surpassed views. The company says it has seen rising demand for automation tools and data center-driven investments in electrical grids. CEO Morten Wierod told Bloomberg TV the electrification unit, which supplies power companies, saw double-digit growth. He spoke to Bloomberg's Tom Mackenzie on "Daybreak Europe." Sign in to access your portfolio
Bloomberg
17-07-2025
- Business
- Bloomberg
Stock Movers: ABB, Legrand, Novartis
On this episode of Stock Movers: - ABB Ltd. rallied after the company reported record order intake and profit margins that surpassed views, spurred by rising demand for automation tools and data center-driven investments in electrical grids. Orders surged 16% in the second quarter to $9.79 billion, lifted by a single $600 million deal for process-automation tools in the US, the Zurich-based industrial supplier said Thursday in a statement. ABB shares gained as much as 8.5%, the most intraday in over three months. - Legrand shares are trading at a record high this morning after jumping as much as 8.4% as the electrical device specialist posted organic growth well ahead of expectations in the second quarter and raised its outlook for the full year. Analysts cited strong demand for data centers in North America. - Novartis AG slumped after disappointing sales for its key psoriasis drug and the looming retirement of its respected finance chief overshadowed a modest outlook raise. Core operating profit will likely grow by a percentage in the low teens, the Swiss drugmaker said Thursday. New medicines made up for lackluster growth from the psoriasis treatment Cosentyx, which analysts pointed to as a concern. The shares fell as much as 2.8% in early Zurich trading, trimming this year's gain to about 5%.
