ABB +0.38%: A stock that we like & own but are down on in our Emerging Companies Portfolio is ABB with yesterday’s results leading to another ~20% sell-off in the share price. We covered the result yesterday however worth pointing out that Founder and Managing Director Phil Britt has just filed up for $500k of stock (purchased today). The issue in the result yesterday was all about guidance, however from what we understand, they have taken a conservative stance here given a few moving parts at the moment. The other interesting aspect that we gleaned yesterday was that ABB won’t be paying any tax for the next 2 years minimum. Hopefully the last of the consensus downgrades and ABB remains a core holding in our Emerging Companies portfolio.
MM would be a buyer of ABB ~$2.70 if we didn’t already own
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