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Zacks #1 Stocks on the Move 06/18/2013
| Company Name | Symbol | %Change |
|---|---|---|
| STAAR SURGIC | STAA | 10.98% |
| LUMOS NETWOR | LMOS | 5.70% |
| INSTEEL IND | IIIN | 5.28% |
| ERICKSON AIR | EAC | 5.10% |
| ASSURED GUAR | AGO | 4.98% |
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ABB Ltd.(ABB - Snapshot Report) completed the commissioning of the HVDC (high-voltage direct current) Fenno-Skan 2 power link between Finland and Sweden. The power link is a cable-based power transmission system, facilitating 800 MW of additional power transmission between the two countries. The Fenno-Skan link, owned and operated by Fingrid and Svenska Kraftnät, overcomes various hindrances in power transmission in the region.
Converter stations in Rauma on the Finnish side and in Finnböle in Sweden are included in this installation. The plan also includes upgradation of the control system of the original link. The link is built parallel to Fenno-Skan 1, which was provided by ABB in 1989. The Fenno-Skan 1 is a bipolar link, which develops the capacity for power trading while improving the region’s security of supply.
The new link is built on the latest control and communication technologies combined with an innovative circuit solution, which enables an integrated bipole despite the geographical separation. With the new technique, the problem of the converter stations for Fenno-Skan 1 and 2 located at 70 km from each other on the Swedish side due to AC grid constraints can be overcomed. Reliability of the grid is also improved with the new link.
Based in Zurich (Switzerland), ABB Ltd. is a global provider of power and automation technologies that enable utility and industry customers to improve performance, while lowering environmental impact. The company serves electric, gas, and water utilities, as well as industrial and commercial customers, with a broad range of products, systems, and services for power transmission, distribution, and power plant automation. The company operates in approximately 100 countries, structuring its global organization into five regions: Europe, Americas, Asia, the Middle East and Africa. A major competitor of ABB Ltd. is Siemens AG (SI - Analyst Report).
Currently, we are maintaining a Zacks #4 Rank (short-term Sell recommendation) on ABB Ltd.
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