|Bid||48.08 x 1000|
|Ask||48.05 x 800|
|Day's Range||47.68 - 48.16|
|52 Week Range||42.30 - 58.00|
|Beta (5Y Monthly)||1.75|
|PE Ratio (TTM)||13.74|
|Earnings Date||Apr 14, 2020 - Apr 19, 2020|
|Forward Dividend & Yield||0.08 (0.17%)|
|Ex-Dividend Date||Dec 11, 2019|
|1y Target Est||55.17|
French transport infrastructure company Alstom is in talks over a potential $7 billion acquisition of Canada's Bombardier’s train business, marking the latest attempt by Western rail companies to bulk up in the face of Chinese competition. Bombardier and Alstom have both attempted to merge with German engineering company Siemens. Alstom has sites in 60 countries, including manufacturing facilities in France, Canada, the United States, Australia, Brazil, Poland, Italy and India and its rail and e-bus division reported over 6 billion euros ($6.50 billion)in orders in the fiscal year to March 2019.
Bell will continue to develop its air taxi with the help of two Japanese companies involved in the travel industry.
Textainer Group Holdings Limited (NYSE: TGH; JSE: TXT) ("Textainer", "the Company", "we" and "our"), one of the world's largest lessors of intermodal containers, today reported financial results for the fourth-quarter and full-year ended December 31, 2019.
The U.S. Air Force is moving on from a program that Textron Aviation in Wichita had hoped could lead to potential sales of hundreds of locally built defense aircraft. Confirming a Defense News report, Air Force spokesperson Ann Stefanek says the service will not proceed with its Light Attack Program.
After Bombardier recently warned that it was re-evaluating its future on the A220 commercial jet, Airbus is said to be moving quickly to scoop up the Canadian manufacturer's remaining stake in the program. According to a report from Reuters, unnamed sources familiar with talks between the companies described the negotiations being at an advanced stage, with a deal potentially being announced this week. Both companies are scheduled to provide their fourth-quarter and full-year earnings report Thursday.
Analysts see a lot of potential upside in a rumored Textron buy of Bombardier's business jet unit. But Learjet production likely isn't a piece of the puzzle.
The Pentagon has reduced the size of the delegation traveling to the Singapore Airshow in light of coronavirus concerns, people familiar with the matter said on Friday. Ellen Lord, the Pentagon's chief weapons buyer, will no longer attend the event as the lead Pentagon representative, the people said. Other Pentagon leaders including uniformed military officials still plan to attend.
Textainer Group Holdings Limited (NYSE:TGH) ("Textainer" or the "Company"), one of the world's largest lessors of intermodal containers, announced today the date for the release of its fourth quarter and full-year 2019 financial results and its attendance at an upcoming investor conference.
Canada's main stock index rose on Wednesday, boosted by a 3% surge in energy stocks, as sentiment was lifted by reports of drug breakthroughs in treating the fast-spreading coronavirus. * The energy sector was set to post its biggest percentage gain in two months, as oil prices soared on media reports that scientists have developed a drug to treat the disease that has killed 490 people in China. * The largest percentage gainers on the TSX were MEG Energy Corp, which jumped 7.5% and Cenovus Energy, which rose 5.6%.
(Bloomberg) -- Bombardier Inc. jumped on a Wall Street Journal report that the Canadian maker of planes and trains is in talks to sell its private-jet unit to Textron Inc., which makes Cessna planes. Textron also surged on speculation that a deal would bolster its luxury-aircraft business.The negotiations have been going on for several weeks, and the terms of the potential transaction are unclear, the Journal reported Tuesday, citing people familiar with the matter. There’s no guarantee that the discussions will result in any agreement, the newspaper said.Bombardier declined to comment. Textron didn’t immediately respond to a request for comment.A deal would provide a welcome cash injection for debt-laden Bombardier while removing what Chief Executive Officer Alain Bellemare had touted as a pillar of the company’s future. Once a Canadian industrial champion, Bombardier has also held talks to combine its rail unit with France’s Alstom SA and may exit a joint venture with Airbus SE to make the A220 jetliner. Bombardier agreed last year to sell its regional-jet business to Mitsubishi Heavy Industries Ltd.Bombardier jumped 18% to C$1.53 at the close in Toronto, the biggest gain in almost a year. The shares fell 33% this year through Monday, the worst drop on Canada’s S&P/TSX Composite Index, after Bombardier warned of disappointing sales. The company also said it may exit the A220 program and warned of a possible writedown.The company’s 7.85% bonds due 2027 climbed 1.3 cents to 97 cents on the dollar, yielding 8.5%, according to Trace data. Bombardier reported adjusted debt of more than $10 billion as of Sept. 30.Textron surged 10% to $50.90, the most in six years. Valuation EstimateSheila Kahyaoglu, an analyst at Jefferies, valued Bombardier’s private-jet business at $6.7 billion. She said other makers of luxury aircraft would benefit from “increased price discipline” if the Montreal-based company reached a deal to sell.Textron would benefit by adding Bombardier’s large-cabin aircraft to a lineup of smaller jets and propeller planes, said Brian Foley, a business aviation consultant based in Sparta, New Jersey.The industry is “definitely overcrowded” and needs consolidation, Foley said. There are about seven manufacturers offering 40 different aircraft in an industry that ships less than 700 planes a year, he said. In 2007 and 2008, annual deliveries topped 1,000 jets.“It’s been more than a decade since the go-go times of the industry and it’s been relatively stable and even stagnant since,” Foley said. If Bombardier and Textron reach a deal, “it doesn’t totally fix the problem, in my view. But it would help.”Textron would be buying Bombardier just as the Canadian planemaker ramps up shipments of its flagship Global 7500, the largest corporate jet, which began delivery in December 2018. Bombardier struggled with a two-year delay and cost overruns to produce the jet, which has a price tag of $73 million.General Dynamics Corp.’s Gulfstream division and Paris-based Dassault Aviation SA make planes that compete directly with Bombardier’s Global series of business jets. Embraer SA plans to retain its private-jet and defense operations after combining its commercial-aircraft business with Boeing Co.Rail TalksIn rail equipment, Bombardier’s talks with Alstom have slowed down, partly over the valuation of an operation that has had production stumbles, the Journal said.The Canadian company’s openness to parting with its private-jet business signals a weaker outlook for the rail division, said Bloomberg Intelligence analyst George Ferguson. A deal with Providence, Rhode Island-based Textron would probably include Bombardier’s Global and Challenger lines of luxury aircraft. Its smaller Learjet planes have been fading.The Textron negotiation “affirms our view that rail cash flow will be weak over the next few years, requiring divestment of assets to pay down debt with maturities beginning in mid-2021,” Ferguson said in a report. “We expect a sale would include large jets such as the Global and Challenger lines, as Lear won’t garner much cash.”(Updates shares in fifth paragraph)\--With assistance from Sandrine Rastello.To contact the reporters on this story: Paula Sambo in Toronto at firstname.lastname@example.org;Thomas Black in Dallas at email@example.comTo contact the editors responsible for this story: Nikolaj Gammeltoft at firstname.lastname@example.org, Brendan CaseFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The parent of Wichita-based Textron Aviation had previously been tabbed as a likely buyer if Bombardier looked to sell its own aerospace unit.
Shares of Textron Inc. rose nearly 10% on Tuesday after news that Bombardier Inc. is in talks to sell its business-jet unit to the maker of Cessna planes and Bell helicopters. Textron stock was on pace for its largest one-day increase since Dec. 20, 2013, when it rose 14%. Earlier Tuesday, The Wall Street Journal reported that Bombardier and Textron have been in talks for weeks, citing people familiar with the deal.
The move will help the struggling Canadian train and plane maker to pare billions of dollars in debt, the report said. On Jan. 16, company flagged a 2019 profit warning, citing problematic rail contracts, as well as warned of a potential write down in the value of a plane partnership with Europe's planemaker Airbus. Bombardier declined comment on the WSJ report, but a source familiar with the company's thinking told Reuters it was holding talks over both rail and aviation assets to keep all its options open.
Wichita planemakers Textron Aviation and Bombardier Learjet are among the growing list of companies to pull out of appearances at the Singapore Air Show over concerns related to the coronavirus. The show is scheduled for Feb. 11-16 at the Changi Exhibition in Singapore, which is around 2,100 miles south of the outbreak’s epicenter in Wuhan, China. “Due to the escalating coronavirus outbreak and with the health and well-being of our employees and customers at the forefront, Textron Aviation is taking precautionary measures and will no longer be participating in the Singapore Air Show,” the locally-based division of Textron Inc. (NYSE: TXT) said in an emailed statement.
SYDNEY/MONTREAL, Feb 3 (Reuters) - Some aerospace companies including business jet manufacturers Textron Inc and General Dynamics Corp's Gulfstream division said they no longer planned to attend the Singapore Airshow due to the new coronavirus epidemic. The trade portion of Asia's biggest airshow, held every two years, is set to begin on Feb. 11 under the shadow of the fast-spreading virus that has prompted Singapore to deny entry to any non-resident with a recent history of travel to China, where the virus originated.
Boeing is buying more 737 Max simulators as airlines around the world face a scramble to train their pilots so the grounded planes can get back in the air.