|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||33.48 - 33.80|
|52 Week Range||28.26 - 36.63|
|Beta (3Y Monthly)||0.86|
|PE Ratio (TTM)||23.53|
|Forward Dividend & Yield||0.93 (2.56%)|
|1y Target Est||N/A|
French aero engine maker Safran outpaced revenue growth plans in the first quarter and stuck to its goals for the year despite the grounding of the Boeing 737 MAX, sending its shares higher on Friday. Safran said its CFM International joint venture with General Electric continues to deliver LEAP engines to Boeing as it catches up on earlier engine production delays, but would adapt its output as necessary. The disclosure suggests Safran is not yet facing a build-up in inventory of engines for narrow-body aircraft, allaying concerns among some analysts about a costly drain on its cash.
France's Safran said underlying revenues grew 12.6 percent in the first quarter as demand for civil aircraft engines, nacelles and military optronics pushed it ahead of the growth needed to meet a steady annual target of 5 percent. Total first-quarter revenues rose to 5.781 billion euros ($6.4 billion) due in part to the acquisitions of Zodiac Aerospace and electromechanical systems of Collins Aerospace. Safran, which co-produces engines for Boeing's recently grounded 737 MAX together General Electric through the CFM International venture, said it continued to build the LEAP engines at the same speed but would cut output if needed.
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The U.S. Trade Representative proposed a list of European Union products late on Monday on which to slap tariffs in retaliation to more than $11 billion (£8.4 billion) of EU subsidies to Airbus the World Trade Organization has found cause "adverse effects" to the United States. Piling on the uncertainty, the IMF on Tuesday cut its global economic growth forecasts for 2019, citing a potentially disorderly British exit from the European Union as a key risk. "It's been long accepted that while Europe hasn't been strongly targeted yet, it was going to be the case once China wrapped up, and Europe would be next," said Craig Erlam, senior market analyst at OANDA in London.
European shares slid on Tuesday, with most sectors falling after the United States threatened to slap tariffs on goods from the European Union, with worries compounded by the IMF cutting its global growth forecast. The U.S. Trade Representative proposed a list of European Union products late on Monday on which to slap tariffs in retaliation to more than $11 billion of EU subsidies to Airbus the World Trade Organization has found cause "adverse effects" to the United States.
World is in “Precarious Position” says IMF’s Lagarde You got that right, Christine. The International Monetary Fund, one of the world’s biggest money pits, is worried about the pace of global growth, saying it has lost momentum, which really not a good thing when interest rates are already negative in so much of the western […]The post Market Morning: IMF Frets, Boeing Cuts, Supermassive Blackholes & Bank Earnings appeared first on Market Exclusive.
European stocks were slightly lower Monday morning, as investors prepared for what is expected to be a tough U.S. earnings season.
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European shares had their best day in four weeks on Monday, rebounding from three straight sessions in the red thanks notably to merger chatter in the battered banking sector, which help offset worries over a slowdown in the global economy. London's export-heavy FTSE gradually lost steam, as the pound rose on optimism about the progress of Britain's exit from the European Union ahead of a key vote in Parliament scheduled for Tuesday. German lender Commerzbank was among the biggest gainers on the STOXX 600, up 7.1 percent, after reports at the weekend of a possible tie-up with Deutsche Bank, which also rose 5 percent.
Shares in French aerospace group Safran fell on Monday, which traders attributed to fallout from Sunday's crash of an Ethiopian Airlines 737 MAX 8 plane. Safran is the plane's engine maker. The plane was ...
NEW YORK, NY / ACCESSWIRE / February 27, 2019 / Safran S.A. (OTCPINK: SAFRY ) will be discussing their earnings results in their 2018 Second Half Earnings to be held on February 27, 2019 at 8:30 AM Eastern ...
Safran said on Wednesday it expects its recurring operating income to grow around 12 percent in 2019, clarifying an earlier, official forecast of "low teens" percentage growth. The French aero engine maker has traditionally produced slightly different forecasts in French and English versions of its results, using terms such as "low teens" or "high single digits" in English and specific numerical targets in French because of translation issues. On Wednesday, it said it was looking for 2019 recurring operating income growth in the "low teens" in the English version of its annual results press release and 10-12 percent in the French version.
Engine maker CFM International has erased delays in deliveries of its LEAP jet engine for Airbus, but similar delays for Boeing will not be eliminated until the second quarter, said the head of co-owner Safran. Safran and General Electric co-own CFM, which is ramping up production of the LEAP engine deployed on all Boeing 737 MAX models and about half of the Airbus A320neo family.
CHICAGO and PARIS, Feb. 13, 2019 /PRNewswire/ -- Boeing [NYSE: BA] and Safran [EPA: SAF] today announce the name of their 50-50 joint venture to design, build and service Auxiliary Power Units (APUs): Initium Aerospace. From its Latin roots, initium means 'the beginning' or 'to start.' This is what an APU is and does when it provides the power to start the main aircraft engines and systems on the ground and, if necessary, in flight.
France and Germany on Wednesday announced a 65 million euro ($74 million) contract financed equally by both countries over two years as the first act of the joint programme to design a next-generation combat jet system. Dassault Aviation and Airbus will build the system which is expected to be operational from 2040 with a view to replacing over time Dassault's Rafale and Germany's Eurofighters.
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