Es war erfreulich, dass die masslos überbewertete ABB (PE 20+) bisher auf dieser Plattform kein Thema war. Heute schliddern die Kurse dalwärts. Würde mich interessieren, obs fals überhaupt Kaufwillige gibt? und in welchen Preislagen? Hab mich noch nicht festlegen können. Chart ist wenig aussagekräftig nach flottem Ausbruch mit Topbildung.
Allerdings, ein uns gut bekannter und beliebter Börsenbrief hat eins (heutige Ausgabe):
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Deutlich besser als die übrige Blue Chips hat sich ABB entwickelt. Mit dem Anstieg auf ein neues Hoch gab sie ein neues Kaufsignal. Nun rechnen wir nochmals mit einer kurzen Konsolidierung und danach mit einem Anstieg auf 18.-.......
Erwartungen der Analysten wurden nicht übertroffen, meiner Einschätzung nach sieht der weitere Verlauf des ABB Charts jedoch positiv aus, berücksichtigend die Äusserung des CEO, 2006 werde ein Bombenjahr.
Vontobel setzt fair value auf CHF 21.00
Hier der News-Beitrag zu den Zahlen (Link ABB direkt: https://www.abb.com/global/seitp/seitp202.nsf/0/f557b27ddcac0810c125715400560b43? OpenDocument):
ABB posts weaker-than-expected Q1 net on surprise asbestos charge UPDATE
(Updates with details on asbestos costs, performance of key markets, divisions)
ZURICH (AFX) - ABB Ltd reported a weaker-than expected first quarter net profit of 204 mln usd, compared to 199 mln the year earlier period, primarily due to unexpected costs of 89 mln related to the settlement of its asbestos liabilities in the US.
Analysts had expected net profit to reach 224 mln usd on average.
But EBIT in the period rose to a better-than-forecast 509 mln usd from 391 mln, compared to an average forecast of 464 mln.
At 5.420 bln usd, sales were slightly below the consensus, but up from the 5.060 bln posted one year ago, while new orders rose to 7.090 bln usd from 6.166 bln. Analysts had forecast sales to increase to 5.487 bln.
Looking ahead, ABB said it expects the business environment for the rest of 2006 to remain positive.
During the first quarter, orders and sales were higher in all regions and all divisions, except robotics and non-core activities, the Swedish-Swiss engineering group said.
'We delivered strong profitable growth in the first quarter... The accounting treatment of the asbestos shares dampened otherwise solid growth in net income,' chief executive Fred Kindle said.
ABB in April transferred assets -- including approximately 30 mln of its own shares, insurance receivables and promissory notes -- into the Asbestos Personal Injury Trust. The trust was set up under ABB's plan of reorganisation for now defunct US unit Combustion Engineering (CE), which was confirmed on March 1, 2006, and effectively ends years of asbestos litigation.
During the first quarter, order growth was strongest in the Middle East and Asia, fuelled primarily by increasing demand for additional power and industrial infrastructure linked to economic growth and high oil prices, ABB said. Orders in Asia were driven by continuing strong demand from China but also from India as well as several other emerging Asian countries, it said.
In Europe and the Americas, orders to refurbish power grids and improve the performance of existing industrial production were the main drivers in growth.
Orders grew strongest in the grid systems business, primarily the result of a large order from the Middle East, while the substation business also developed positively, led by large orders from the Middle East, the UK and the US, ABB said.
Markets continued to develop favourably in the first quarter of 2006, especially in the oil and gas, transportation, utility and marine sectors, leading to a sharp increase from end-customers as well as original equipment manufacturers and system integrators, it said.
Price increases, primarily reflecting higher raw material costs, also contributed to the revenue growth, it added. In the process automation division, an increase in base orders in the first quarter more than offset lower large orders compared to one year ago.
In the robotics division, both sales and orders lagged behind the year earlier result.
According to ABB this reflects mainly the reduced revenue stream from a multi-year order won in the US two years ago.
ABB's order backlog now amounts to 13.948 bln usd, up 8 pct compared to the same quarter in 2005. Cash flow from operating activities was 39 mln usd, an improvement of 249 mln from one year ago, while net debt decreased by 81 mln usd to 427 mln, the company said.
ABB's tax rate for the first quarter was 32 pct compared to 34 pct one year ago. afx.zurich@afxnews.com at/scs/vs/vs