![]() ![]() As the recent compromise of SolarWinds software illustrated, cybersecurity for software supply chains is a high priority concern. Global technology supply chains are increasingly fragmented and complex, causing changes in the overall risk for the U.S. CyTRICS leverages best-in-class test facilities and analytic capabilities at DOE’s National Laboratories and strategic partnerships with key stakeholders including technology developers, manufacturers, asset owners and operators, and interagency partners. – Today, the Department of Energy's (DOE) Office of Cybersecurity, Energy Security, and Emergency Response (CESER) announced that Hitachi ABB Power Grids is participating in DOE's Cyber Testing for Resilient Industrial Control System (CyTRICS) program as an equipment manufacturer.ĬyTRICS partners across energy sector stakeholders to identify high priority digital components prevalent in industrial control systems, perform expert testing, share information about cybersecurity vulnerabilities in the digital supply chain, and inform improvements in component design and manufacturing. To read this article on click here.WASHINGTON, D.C. ![]() IIVI Incorporated (IIVI): Free Stock Analysis Report Click to get this free reportĪBB Ltd (ABB): Free Stock Analysis ReportĪpplied Industrial Technologies, Inc. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. If you don't buy now, you may kick yourself in 2021. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market. It could become the mother of all technological revolutions. More Stock News: This Is Bigger than the iPhone! Further, positive earnings surprise for the last reported quarter was 213.33% for II-VI and 2.00% for Applied Industrial. In the past 60 days, earnings estimates for II-VI and Applied Industrial have improved for the current year. You can see the complete list of today’s Zacks #1 Rank stocks here. Both II-VI and Applied Industrial sport a Zacks Rank #1 (Strong Buy) at present. Two better-ranked stocks in the Zacks Industrial Products sector are II-VI Incorporated IIVI, and Applied Industrial Technologies, Inc. In the past three months, the company’s share price has increased 41.2% compared with the industry’s growth of 35.3%.ĪBB Ltd price-consensus-chart | ABB Ltd Quote The company is wary about the volatile oil market and the adverse impact of the pandemic on its operations. Zacks Rank, Price Performance and EstimatesĪBB currently has a market capitalization of $48.9 billion and a Zacks Rank #4 (Sell). While ABB can focus more on its core businesses, the expansion in the power grid industry will become easy for Hitachi. The divestment is likely to be a win-win situation for ABB and Hitachi. To begin with, it anticipates repurchasing its shares through a buyback program for 10% (or 180 million) of its outstanding shares. The company intends on using the net proceeds from the divestment for rewarding shareholders with $7.6-$7.8 billion. Notably, the enterprise value of 100% of ABB Power Grids is pegged at $11 billion. ![]() However, it will have the option to dispose of its stake in the coming three years at fair market value - with the floor price set at 90% of the enterprise value. Initially, ABB will hold a 19.9% stake in Hitachi ABB Power Grids. With its headquarters in Switzerland, the joint venture will have 36,000 employees, business in at least 90 countries and revenues (annualized) of $10 billion. The business is spread across Africa, the Americas, Asia, Europe and the Middle East.Īs noted, ABB Power Grids under Hitachi will operate as a joint venture named Hitachi ABB Power Grids. The offerings are mainly used by the company’s infrastructure, industry, utility and transport customers. Notably, ABB’s Power Grids business engages in providing systems, software, products and service solutions. It is worth noting here that the company’s share price increased 3.1% yesterday, closing the trading session at $23.26. ![]() The stake sale was originally announced by ABB in December 2018. The other party to the transaction was Tokyo, Japan-based Hitachi, Ltd. ABB Ltd ABB yesterday announced that it completed the divestment of its 80.1% stake in the Power Grids business. ![]()
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