Conglomerates Sector Review: ABB Aim for Lithium-Ion Reuse, Dow Corning Chooses Siemens

ABB Ltd (NYSE:ABB), 4R Energy, Nissan North America (NSANY) and Sumitomo Corporation of America have formed a partnership to evaluate the reuse of lithium-ion battery packs that power the Nissan LEAF. The purpose is to evaluate and test the residential and commercial applications of energy storage systems or back-up power sources using lithium-ion battery packs reclaimed from electric vehicles after use.

The shares closed at $20.98, up $0.65, or 3.2%, on the day. Its market capitalization is $48.05 billion.

Siemens AG (NYSE:SI) announced that it has been selected as the strategic process automation partner for Dow Corning, following an extensive review and evaluation process using Manufacturing Automation Platform Selection, or MAPS, Six Sigma – Define, Measure, Explore, Develop, Implement – processes. Dow Corning is equally owned by The Dow Chemical Co. (NYSE:DOW) and Corning (NYSE:GLW).

The shares closed at $100.48, up $2.39, or 2.44%, on the day. Its market capitalization is $87.84 billion.

JP Morgan downgraded Textron Inc. (NYSE:TXT) with a $21 price target citing a slower than expected recovery at Cessna.

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The shares closed at $21.60, down $0.07, or 0.32%, on the day. Its market capitalization is $6.01 billion.

To contact the reporter on this story: Stella Mariz at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com