Premium robotics and power grid solutions provider ABB Ltd ABB recently announced partnerships with Amazon.com, Inc. AMZN and Sonos, at Europe’s consumer electronics show, IFA, in Berlin. ABB is collaborating with other market behemoths to offer an integrated experience of connected and software-enabled solutions for consumers.
The alliance will bring together Amazon Alexa and Sonos solutions within the same open home automation platform. Using the ABB-free@home on a control panel, via smart phone or tablet, consumers can control up to 65 functions including lighting, blinds, security and heating. The collaboration will enable consumers to control the latest technology to maximize convenience. These include the ability to control, sound system in multiple rooms; energy efficient lighting and heating; blind control settings; and voice command via Alexa to turn on the lights.
Considered one of the best-managed industrial infrastructure, power and automation companies in the world, ABB stands to benefit from investments made in reduction of energy intensity across all end-markets. The Zacks Rank #3 (Hold) company is positive that urbanization and economic development will fuel the need for efficient mobility.
Last year, ABB had announced a strategic partnership with Microsoft Corporation MSFT, to shore up its capabilities in the industrial Internet market, by combining cloud technology with industrial digital technology. Together, the companies will develop next-generation digital solutions on an integrated open cloud platform.
ABB’s shares have gained 3.1% over the past six months, outperforming the industry’s average decline of 0.3%. The company remains confident that its three major markets — utilities, industry, and transport and infrastructure — will continue to witness impressive investments and boost long-term growth. Moreover, the company has a remarkable earnings surprise history and delivered an average positive earnings surprise of 10.9% over the trailing four quarters, beating estimates all through.
Stock to Consider
A better-ranked stock from the same space is Barnes Group, Inc. B, carrying a Zacks Rank #2 (Buy). You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Barnes Group has an excellent earnings beat history, having surpassed estimates each time over the trailing four quarters. It has an average positive earnings surprise of 11.6%.
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