By market open, shares had slid -7.4% to $24.31.
The Swiss electrical engineering company reported net income of 24 cents a share, a nickel lower than a year earlier. Revenue slipped 3% to $9.47 billion.
Analysts surveyed by Thomson Reuters had forecast net income of 28 cents a share and revenue of $9.84 billion.Must Read: Warren Buffett's 10 Favorite Growth Stocks SELL NOW: If you own any of the 900 stocks that TheStreet Quant Ratings has identified as a 'Sell'...you could potentially lose EVERYTHING in the next 6-12 months. Learn more. TheStreet Ratings team rates ABB LTD as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation: "We rate ABB LTD (ABB) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
- You can view the full analysis from the report here: ABB Ratings Report
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