The Zacks Analyst Blog Highlights: ABB, Power-One, AECOM Technology, Fluor and Chicago Bridge & Iron

The Zacks Analyst Blog Highlights: ABB, Power-One, AECOM Technology, Fluor and
                            Chicago Bridge & Iron

PR Newswire

CHICAGO, April 29, 2013

CHICAGO, April 29, 2013 /PRNewswire/ -- announces the list of stocks
featured in the Analyst Blog. Every day the Zacks Equity Research analysts
discuss the latest news and events impacting stocks and the financial markets.
Stocks recently featured in the blog include ABB Ltd. (NYSE:ABB), Power-One,
Inc. (Nasdaq:PWER), AECOM Technology Corp. (NYSE:ACM), Fluor Corp. (NYSE:FLR)
and Chicago Bridge & Iron (NYSE:CBI).


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from the Pros newsletter:

Here are highlights from Friday's Analyst Blog:

ABB to Acquire Power-One

ABB Ltd. (NYSE:ABB) recently announced its intention to acquire Power-One,
Inc. (Nasdaq:PWER), a leading provider of renewable energy and
energy-efficient power conversion and power management solutions. Board of
Directors of both the companies have agreed to this deal whereby ABB will be
paying Power-One $6.35 per share in cash or $1,028 million equity value.

The proposed acquisition will be structured as a merger and is subject to
customary closing requirements which include the approval of Power One's
shareholders. The deal is expected to close in the second half of 2013. ABB
intends to fund the acquisition with its own funds.

Through this acquisition ABB is expected to become a leading supplier of solar
inverters globally. The acquisition of Power-One is well thought and comes at
an opportune time when the International Energy Agency has predicted the Solar
PV (Photovoltaics) system to grow by more than 10% every year until 2021.

Photovoltaics is a method of generating electrical power by converting solar
radiation into direct current electricity using semiconductors that exhibit
the photovoltaic effect. The quick growth of Photovoltaics is primarily being
driven by robust energy demand, especially in emerging markets, rising
electricity prices and declining costs.

Power-One offers the market's most broad products of solar inverters, for both
residential and utility applications. In addition, it also has a portfolio
comprising of power solutions which complements ABB's power conversion
business. Power-One primarily has its operations in in China, Italy, North
America and Slovakia. In 2012, the company generated $120 million in earnings
before interest, taxes, depreciation and amortization (EBITDA) on sales of
approximately $1 billion.

ABB's leading portfolio in power and automation, global footprint and service
organization make it a natural player in solar PV. For many years ABB has
brought its solutions to the solar PV industry and is on track to generate
sales of more than $100 million in solar inverters in 2013. Solar inverters
are one of the fastest-developing technologies in power electronics, requiring
substantial research and development (R&D) resources. In 2012, ABB invested
about $1.5 billion in R&D overall.

The permutation of these two companies is expected to create value-driven
growth based on innovation. 

Based in Zurich, Switzerland,ABB Ltd. is a power and automation technology
company and currently has a Zacks Rank #2 (Buy). Some other players in the
same industry, which can be considered buying at the moment are AECOM
Technology Corp. (NYSE:ACM), Fluor Corp. (NYSE:FLR) and Chicago Bridge & Iron
(NYSE:CBI), which have a Zacks Rank #2 (Buy).

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