Fluor Corporation (FLR) reported third quarter earnings per share of 89 cents, matching the Zacks Consensus Estimate. Revenue declined by 4% to $5.4 billion, which compares with $5.7 billion in the third quarter of 2008. This change was driven primarily by decreases in the Oil & Gas and Power segments. Revenue in both Industrial & Infrastructure and Government segments was up from last year.  While three of the five business segments reported earnings growth over 2008, the Oil & Gas segment profit declined by 8% and the Global Services segment profit was impacted by a $45 million provision relating to a collection issue on a completed paper mill revamp project.  New project awards for the quarter were $2.9 billion, compared with record awards of $8.8 billion a year ago. Consolidated backlog at the end of the quarter was $28 billion. This represents a $2.9 billion increase ...

Siemens AG (SI) is set to acquire the solar thermal power company Solel Solar Systems Ltd. To date, the majority stake has been held by Ecofin Ltd., a London-based investment firm, and another major shareholder. The purchase price is about $418 million (currently equivalent to around €284 million). The transaction is subject to approval by the responsible authorities. It is anticipated that the closing will take place before the end of this calendar year. Solel is a successful company in the future-oriented solar power sector, with decades of experience in the development and manufacture of solar field equipment and the planning and construction of solar fields. Since 2006, Solel has also been present on the Spanish market, supplying key components for 15 solar thermal power plants with a combined capacity of 750 megawatts. In addition, the company is also active on the important U.S. market....

ABB Ltd. (ABB) announced that it has acquired the assets of Sinai Engineering Corporation to enhance its presence and capabilities in Western Canada. Sinai Engineering's offerings include high-voltage substations and transmission line design, generation and transmission system planning and analytical studies, as well as procurement and construction management. Its customers include electric utilities, conventional and heavy oil, gas processing, pulp and paper, mining, pipeline operators and independent power producers. It employs about 30 employees. ABB did not disclose the value of the transaction. This acquisition is aligned with the company’s strategy to strengthen its footprint in Western Canada , particularly in providing engineering services to oil and gas and utility customers. Further, ABB announced that it has renewed its $2 billion revolving credit facility in line with its strategy to ensure maximum financial flexibility. The new three year credit facility replaces the existing facility signed ...

[Editor's Note: Money Morning Investment Director Keith Fitz-Gerald is currently in Mainland China. Look for additional installments of his investment travelogue later this week.] By Keith Fitz-Gerald Investment Director Money Morning/The Money Map Report XIAN, People’s Republic of China – During the politically charged period in the late 1980s and early 1990s – when China believed it really needed friends – a small number of Western companies ignored the controversies and refused to abandon the market. Global investors will recognize some of the names: The Coca-Cola Co. (NYSE: KO), Johnson & Johnson (NYSE: JNJ), and ABB Ltd. (NYSE ADR: ABB). In the years since, their courage and commitment has been rewarded with hefty market shares, growing profits, and a position of trust that’s very tough for an outside firm to obtain. These firms also …

Siemens AG (SI) recently bought a 40% stake in Israel-based Areva Power Co. for $15 million. Areva develops, builds and operates photovoltaic plants. This is another significant step in strengthening green and sustainable technology initiative by Siemens. Due to intensive sunlight and steadily growing demand for energy, Israel is an ideal location for developing solar energy business.

It will now be possible for Siemens to build Israel’s first commercial solar farm in the region between the Dead Sea and the Red Sea. The company will handle project management including engineering and construction of the photovoltaic plants. It has signed a framework agreement to build plants with a total output of 40 megawatts (MW). The first project will be construction of a plant with an output of up to 4.9 MW at Kibbutz Ketura, in the southern desert of Israel.

Areva Power was founded in 2006 and is headquartered

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Siemens Energy, a division of Siemens AG (SI), acquired the majority holding in the Chinese metalworking company Yangtze Delta Manufacturing and the Chinese aluminum foundry GISAP (GIS Steel & Aluminium Products), both headquartered in Hangzhou.   Siemens Energy is expanding its global production capacity for high-voltage circuit-breakers in China and enhancing its value chain proposition from foundry work through machining to final product assembly.   There is a constant robust demand for high-voltage power transmission products in China. The demand for reliable, cost-efficient high-voltage products for the transmission of electrical energy, which minimizes losses, continues to rise.

Siemens has a leading position in China, the world’s largest market for power transmission equipment. The company has involvement as a provider of innovative energy technologies in numerous major infrastructure projects, including projects in the field of high-voltage direct current transmission.

Siemens is a German industrial conglomerate with interests in information services, automation and

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Siemens (SI), through its Water Technologies division, has fabricated a produced water treatment system for a major oil company’s site in western U.S. Sized for 6,000 barrels per day (bpd), the mobile system consists of a flotation unit, media filtration and cartridge filtration. The system also supports the customer’s green objectives by conserving fresh water and avoiding greenhouse gas emissions.

The flow-back feature of the water-treatment application is unique in that it leverages years of offshore produced water experience to meet onshore produced water objectives. The Veirsep system (a horizontal flotation system that incorporates several unique technologies to separate oil, grease and suspended solids from the flow-back stream) has been used in offshore applications to reduce oil and grease levels to meet discharge quality requirements.

The system is the most recent addition to Siemens’ modular Produced Water Services. These services are designed based on the water supply and

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ABB Ltd. (ABB) reported second quarter 2009 revenues of $7.9 billion, which are lower than our estimates while earnings came in at $0.30, which are also below our expectations.  Orders came in lower at $7.3 billion, down 35% compared to the year-ago quarter as a consequence of lower volumes as well as price decreases driven by reduced demand. Orders were down 20% in the Americas. Europe saw lower demand in all businesses. Orders from Asia were down across divisions except Industrial Automation, where higher orders in India offset decreases in other markets.  Revenues increased in local currency terms in those divisions with heavy order backlogs- Power Products, Power Systems and Process Automation. Revenues were down in the Automation and Robotics divisions. Pre-tax margin declined compared to the year-ago quarter on lower revenues and capacity utilizations in automation as well as restructuring charges.  Net financial income ...

Here are the stocks added to the Zacks #5 Rank ("strong sell") List today:

ABB Ltd (ABB) Aon Corp (AOC) BancTrust Financial Group Inc (BTFG) Brandywine Realty Trust (BDN) Corn Products International Inc (CPO) Cynosure Inc (CYNO) DRI Corp (TBUS) Ethan Allen Interiors Inc (ETH) Euronet Worldwide Inc (EEFT) First Advantage Corp (FADV) Fuel Tech Inc (FTEK) Integra Bank Corp (IBNK) JDA Software Group Inc (JDAS) MetroCorp Bancshares Inc (MCBI) MSC Industrial Direct Co Inc (MSM) Open Text Corp (OTEX) Park Electrochemical Corp (PKE) Penford Corp (PENX) Repsol YPF SA (REP) Rockwood Holdings Inc (ROC) Timberland Bancorp Inc (TSBK) Titan Machinery Inc (TITN) TriCo Bancshares (TCBK) View the entire Zacks #5 Rank List.

"ABB" Free Stock Analysis: Buy? Sell? Hold?...

Here are the stocks added to the Zacks #5 Rank ("strong sell") List today:

ABB Ltd (ABB) Actuant Corp (ATU) ATMI Inc (ATMI) BancTrust Financial Group Inc (BTFG) Benchmark Electronics Inc (BHE) Blyth Inc (BTH) BRT Realty Trust (BRT) Cincinnati Financial Corp (CINF) Cintas Corp (CTAS) Cleco Corp (CNL) CONMED Corp (CNMD) Dover Saddlery Inc (DOVR) Enterprise Financial Services Corp (EFSC) Ethan Allen Interiors Inc (ETH) Fairpoint Communications Inc (FRP) Fuel Tech Inc (FTEK) Hartford Financial Services (HIG) Insteel Industries Inc (IIIN) INX Inc (INXI) FirstService Corp (FSRV) JA Solar Holdings Co Ltd (JASO) JDA Software Group Inc (JDAS) Live Nation Inc (LYV) LoJack Corp (LOJN) MSC Industrial Direct Co Inc (MSM) Open Text Corp (OTEX) Pennichuck Corp (PNNW) Sanmina-SCI Corp (...