|Bid||0.4350 x 0|
|Ask||0.4400 x 0|
|Day's Range||0.4300 - 0.4400|
|52 Week Range||0.3800 - 2.3400|
|Beta (5Y Monthly)||2.15|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Dec 10, 2014|
|1y Target Est||N/A|
France's Alstom, which has agreed to buy Bombardier's transport unit, reported on Thursday a slump of 27% in first-quarter sales as coronavirus lockdown measures slowed rolling stock sales recognition while a traffic decline hit its services and signalling division. Alstom, whose previous rail tie-up plans with Siemens fell through last year, recorded April-June sales of 1.51 billion euros ($1.72 billion), while orders for the period were roughly stable, at 1.65 billion euros. Last week, European Union antitrust regulators set a July 31 deadline to rule on Alstom's bid for Bombardier's business after the French TGV high-speed train maker offered to sell assets to address competition concerns.
European Union antitrust regulators have set a new deadline of July 31 to rule on Alstom's <ALSO.PA> bid for Bombardier Inc's <BBDb.TO> transport business after the French TGV high-speed train maker offered to sell assets to address competition concerns. The European Commission, which posted the new deadline on its site on Friday, will now seek feedback from rivals and customers of both companies before deciding whether to accept the package or demand more in line with its procedures. Alstom on Thursday offered to sell its Reichshoffen regional train factory in eastern France, its regional train unit Coradia Polyvalent, and a Bombardier commuter trains division and the related production facilities at its Hennigsdorf site in Germany.
BERLIN, July 10, 2020 -- Note to editors: To view the photo associated with this press release, please visit the following.
Landmark moment arrives after aircraft’s sixth consecutive year as world’s most delivered super mid-size business jet The Challenger 350 business jet stands out with its.
France's TGV high-speed train maker Alstom <ALSO.PA> on Thursday offered to sell a French rail factory and make other concessions to win European Commission approval for its planned purchase of Bombardier Inc's <BBDb.TO> transportation business. The commitments also included selling Alstom's regional train unit Coradia Polyvalent and divesting a Bombardier commuter trains division and the related production facilities at its Hennigsdorf site in Germany. Alstom's bid in February of up to 6.2 billion euros ($7 billion) for Montreal-based Bombardier's rail business has faced scrutiny from EU antitrust authorities, which have been expected to demand concessions to approve the deal.
Alstom's bid of up to 6.2 billion euros ($7.0 billion) for Bombardier's unit was launched in February and the EU competition enforcer is likely to demand concessions to approve the deal. Alstom unions are being summoned to an online meeting on Thursday where management will provide an update on discussions with the European Commission, two sources said. Alstom is seeking to create the world's No. 2 train manufacturer with the Bombardier unit purchase to better compete with Chinese leader CRRC Corp <601766.SS> in its second attempt at a deal, after the European Commission blocked its planned merger with Siemens AG <SIEGn.DE> last year.
French TGV high-speed train maker Alstom is prepared to sell assets to secure early EU antitrust approval for its bid for Bombardier Inc's rail division, people familiar with the matter said. Alstom and Bombardier believe they have a strong case with few overlapping activities, even if EU antitrust regulators are not convinced by the concessions and instead opt to open a four-month long investigation, the people said. Alstom's bid for Bombardier, announced in February, is worth up to 6.2 billion euros ($7 billion).
European shares have risen 2.6% and have opened 0.5% higher this morning. There's certainly more noise from President Donald Trump, who is lagging prospective opponent Joe Biden in opinion polls with elections five months away. Two recent Supreme court rulings have overturned his causes, and social media firms, which are seen as contributing to Trump's 2016 election win, aren't playing along this time -- most recently, Facebook took down some of his campaign ads, citing "organised hate".
Shares of Bombardier were down over 10% at 46 Canadian cents and those of BlackBerry were 6% lower at C$6.7 in morning trade. Index manager S&P Dow Jones Indices said on Friday it will remove the two companies from the S&P/TSX 60 index effective Monday. BlackBerry shares are down nearly 20% this year so far.
EU antitrust regulators have set a July 16 deadline for a decision on whether to clear French TGV high-speed train maker Alstom's bid for Bombardier Inc's rail division, according to a filing on the European Commission website. Alstom announced the deal in February to create the world's No. 2 train manufacturer and better take on Chinese leader CRRC Corp. The cash and shares deal is worth up to 6.2 billion euros ($7 billion).
EU antitrust regulators have set a July 16 deadline for a decision on whether to clear French TGV high-speed train maker Alstom's bid for Bombardier Inc's rail division, according to a filing on the European Commission website. Alstom announced the deal in February to create the world's No. 2 train manufacturer and better take on Chinese leader CRRC Corp. The cash and shares deal is worth up to 6.2 billion euros ($7 billion). An attempt by Canadian company Bombardier and Siemens to combine some train businesses stalled in 2017.
Planemaker Bombardier Inc is to cut up to 600 jobs in its Northern Ireland operations, it said on Thursday, as part of plans announced last week to cut 2,500 jobs or about 11% of the workforce in its global aviation unit. The cuts include 400 core workers and up to 200 workers from its "complementary labour force" of temporary and agency workers, a Bombardier spokeswoman said. The Canadian firm, which produces wings for Airbus's A220 jet in Belfast, is the largest high-tech manufacturer in Northern Ireland with a workforce of around 3,500.
The aviation industry has been among the worst hit by the pandemic, which has dented travel demand and forced several aircraft manufacturers, including planemakers Boeing Co <BA.N> and Airbus SE <AIR.PA>, to cut production as customers defer deliveries. "We are now faced with the difficult decision to adjust the size of our business, considering both disruptions in our supply chain as well as industry-wide forecasts calling for approximately 30% year-over-year drops in unit deliveries due to the pandemic," David Coleal, president of Bombardier Aviation, said in a memo to workers about the layoffs which was seen by Reuters. Bombardier Aviation spokesman Mark Masluch said the company is starting to scale back production, but he would not give specifics.
Regional jet maker Embraer reported weak first-quarter 2020 results Monday morning—no surprise, given that the commercial-aviation value chain has been hammered by the Covid-19 pandemic.
SpaceJet regional aircraft maker, Mitsubishi Aircraft, said it is closing overseas operations that employ hundreds of people and may cut staff at home after its parent company slashed the development budget for Japan's first commercial aircraft in a century. The move, which comes as the coronavirus pandemic wreaks havoc on the aviation industry, casts doubt over the future of Japan's commercial aircraft ambitions and will at the very least delay certification of Mitsubishi's first plane, the M90. Mitsubishi Aircraft has already shelved plans for a shorter variant, the M100, seen as key to winning orders in the lucrative U.S. market.
Canada's business jet maker Bombardier said on Wednesday it does not expect the COVID-19 pandemic to delay the sale of its rail division to France's Alstom. Alstom expects to close its deal with Bombardier, which is subject to regulatory clearance, in the first half of 2021.
Mitsubishi Heavy Industries said it was halving the annual development budget for Japan's first regional jet in half a century, the M90 SpaceJet, as the coronavirus pandemic squeezes profits. "We have to reconsider how we move forward," Mitsubishi Heavy Chief Executive Officer Seiji Izumisawa said during a press briefing to announce the company's latest results. The SpaceJet budget this business year will be around half of the 141 billion yen it spent in the year that ended March 31, he said.
Alstom plans to stick to the terms of its previously-agreed rail deal with Bombardier , Chairman and Chief Executive Henri Poupart-Lafarge told a conference call on Tuesday. In February, the French TGV high-speed train maker Alstom agreed to buy the rail division of Bombardier for up to 6.2 billion euros ($6.7 billion) in a cash-and-shares deal aimed at creating the world's No. 2 train manufacturer and a challenger to Chinese leader CRRC Corp. Alstom added on Tuesday that it hoped to close its deal with Bombardier, which is subject to regulatory clearance, in the first half of 2021.
Business jet deliveries are expected to fall this year as the pandemic keeps people under a lockdown, disrupts global travel and slows down economic activity around the world. "Bombardier has begun the gradual resumption of manufacturing operations at both Aviation and Transportation necessary to deliver on our strong rail backlog and to continue the production ramp-up of the Global 7500," Chief Executive Eric Martel said in a statement. The company said its aviation unit suffered a significant slowdown in orders in March, leading to a $13.6 billion business aircraft backlog at the end of the quarter.
Bombardier Inc posted a 35.7% fall in adjusted core profit in the first quarter on Thursday as the Canadian plane and train maker was pounded by delayed deliveries of its business jets due to the COVID-19 pandemic. Business jet deliveries are expected to fall this year as the pandemic keeps people under lockdown, disrupts global travel and slows down economic activity around the world. "Bombardier has begun the gradual resumption of manufacturing operations at both Aviation and Transportation necessary to deliver on our strong rail backlog and to continue the production ramp-up of the Global 7500," Chief Executive Eric Martel said in a statement.
Canada's main stock index fell on Friday on U.S. President Donald Trump's threat to slap new tariffs on China over the coronavirus crisis, and as data showed Canadian manufacturing activity slumped to a record low in April. Trump said late on Thursday his trade deal with China was now of secondary importance to the pandemic, as his administration crafted retaliatory measures over the outbreak. * At 09:39 a.m. ET (13:39 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 181.94 points, or 1.23%, at 14,598.8.
Quebec, the Canadian province hit hardest by the coronavirus outbreak, on Tuesday said it would slowly reopen its economy in May while keeping some social restrictions to avoid possible flare-ups. "Our challenge is to gradually restart the economy without restarting the pandemic," Premier Francois Legault told a briefing. Quebec will start with the civil engineering and road construction sector, factories and some stores while watching data on new infections.
Quebec, the Canadian province hit hardest by the coronavirus outbreak, is set on Tuesday to announce plans for restarting its economy, paving the way for companies like Bombardier Inc to gradually reopen key facilities. There have been 49,025 confirmed cases in Canada.
The company said it would restart train production at Derby and heavy maintenance at Ilford from April 14, and resume some operations at Crewe from April 15. The Canadian train maker also said about forty employees had started work at its Bruges site in Belgium, which has been closed since March 16.
Bombardier is taking early steps to revive assembly of its most lucrative business jets after production was halted for weeks because of the coronavirus outbreak, even as the pandemic risks sapping demand for corporate aircraft. Bombardier will bring some employees back to its Toronto plant on Monday for pre-flight activities to support the resumption of operations there on April 27, company spokeswoman Anna Cristofaro said by email. "Bombardier continues to take the necessary steps and precautions to safeguard the health of all its employees, and we remain in close contact with public health officials," Cristofaro said.