ABB Profit Rises on U.S. Construction, Demand in China
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ABB Ltd.’s shares declined the most in more than five weeks after the world’s largest maker of power transformers said lower power-utility investments in Europe weighed on orders.
The stock dropped as much as 4.9 percent to 20.40 francs in Zurich trading after ABB said today that second-quarter orders fell 7 percent from a year earlier to $9.3 billion. The shares were down 4.8 percent as of 1 p.m. local time.