BDRBF - Bombardier Inc.

Other OTC - Other OTC Delayed price. Currency in USD
0.3200
-0.0050 (-1.54%)
At close: 3:59PM EDT
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Previous close0.3250
Open0.3400
Bid0.0000 x 0
Ask0.0000 x 0
Day's range0.3153 - 0.3400
52-week range0.2700 - 1.7900
Volume729,064
Avg. volume1,169,830
Market cap815.862M
Beta (5Y monthly)2.15
PE ratio (TTM)N/A
EPS (TTM)-0.9500
Earnings dateN/A
Forward dividend & yieldN/A (N/A)
Ex-dividend date10 Dec 2014
1y target est2.85
  • Alstom ready to sell assets to win EU nod for Bombardier deal - sources
    Reuters

    Alstom ready to sell assets to win EU nod for Bombardier deal - sources

    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).

  • Shares of Bombardier, BlackBerry drop after removal from blue-chip index
    Reuters

    Shares of Bombardier, BlackBerry drop after removal from blue-chip index

    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 regulators to decide on Alstom, Bombardier deal by July 16
    Reuters

    EU regulators to decide on Alstom, Bombardier deal by July 16

    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).

  • Bombardier to cut up to 600 jobs in Northern Ireland
    Reuters

    Bombardier to cut up to 600 jobs in Northern Ireland

    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.

  • Bombardier, Once a Canadian Champion, Risks Exile From Index
    Bloomberg

    Bombardier, Once a Canadian Champion, Risks Exile From Index

    (Bloomberg) -- Bombardier Inc. is facing the boot from Canada’s main index as it slides toward irrelevance for equity investors.The manufacturer’s share price has been below C$1 since early March, potentially making it ineligible to stay in the S&P/TSX Composite Index and in turn the S&P/TSX 60 Index of large companies.To be included in the composite, a company must have a minimum volume-weighted average price of C$1 over the previous three months, as well as over the last 10 trading days of the month prior to the index provider’s quarterly review, according to S&P Dow Jones index methodology. For Bombardier, that average price is now sitting at about 53 Canadian cents for the three months leading up to June.A departure from the index could hurt demand for Bombardier’s shares as exchange-traded funds drop the stock. Other managers must also decide whether to keep the shares. “A portfolio manager must determine how closely they want to track the index and make a call on number of shares,” said Bloomberg Intelligence analyst George Ferguson.Bombardier is aware of the guidelines for index inclusion but it won’t speculate on whether it will be removed in the upcoming review, Jessica McDonald, a company representative said.S&P Dow Jones Indices releases its quarterly review within the first ten days of the rebalancing month, which would be June 12, spokesman Raymond McConville said.Bombardier’s shares have continued their downward spiral despite a corporate revamp initiated by former chief executive officer Alain Bellemare. The stock has lost almost all of its value in 20 years.The Montreal-based company was once seen as a Canadian champion of the industrial sector and a source of pride for Quebec. It made everything from snowmobiles to commercial aircraft but is now a shadow of its former self after ceding its marquee jet program, now known as the A220, to Airbus SE and agreeing to sell its rail business to French train maker Alstom SA in the face of more than $10 billion in debt.The company’s market capitalization peaked at C$36.2 billion ($27 billion) in the summer of 2000. Today it’s C$1.4 billion.Bellemare’s restructuring means Bombardier has made an all-in bet on the corporate jet market. That left the company, now led by Eric Martel, particularly exposed as the coronavirus pandemic shuttered travel globally and slashed corporate spending. Still, it’s possible that sales of private jets, which allow for physical distancing among passengers, may come back faster than commercial travel.The company’s shares jumped as much as 28% Tuesday after Bank of Nova Scotia upgraded its stock rating to the equivalent of a hold. Analyst Konark Gupta said in a report he sees “some green shoots” in the macro and industry indicators he monitors. Bombardier’s share price, which was at C$0.64 as of 10:40 a.m. in Toronto, is still far from the criteria to stay included on the S&P/TSX Composite.Last week, the company announced that it plans to eliminate 2,500 jobs at its aviation division following a slump in demand for business jets. In quarterly financial results released May 7, Bombardier said it’s bracing for a drop of at least 30% in sales of private jets as the crisis pummels demand this year.(Updates to include Tuesday’s share price in penultimate paragraph)For 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.

  • Bombardier to cut 2,500 aviation jobs as pandemic dents travel demand
    Reuters

    Bombardier to cut 2,500 aviation jobs as pandemic dents travel demand

    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 and Airbus SE, 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.

  • Bombardier to continue Global 7500 jet ramp-up, as cash flow slips
    Reuters

    Bombardier to continue Global 7500 jet ramp-up, as cash flow slips

    Chief Executive Eric Martel said during a media call that Bombardier has held talks with different governments over possible "temporary aid," although no decision was taken. Earlier, Bombardier reported negative free cash flow of $1.6 billion (1.3 billion pounds) for the first quarter and said it expects a similar number during the second three months of the year, when business is anticipated to hit a low point. Chief Financial Officer John Di Bert said he expects free cash would start to break even or turn positive during the second half of 2020.

  • Bombardier misses core profit estimates as pandemic delays jet deliveries
    Reuters

    Bombardier misses core profit estimates as pandemic delays jet deliveries

    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 to resume some operations in UK
    Reuters

    Bombardier to resume some operations in UK

    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.

  • Reuters - UK Focus

    European hedge funds struggle as short-selling bans disrupt strategies

    European hedge funds struggled to navigate the coronavirus-induced extreme market volatility during March, with many down by double-digits in the space of a few weeks as short-selling bans hampered their strategies. Regulators in France, Italy, Belgium and Spain ordered temporary short-selling bans to stop investors betting on a fall in the share price of companies ranging from Spanish bank Santander to Air France-KLM and Italian automaker Fiat Chrysler. Short-selling is a strategy often used by so-called 'event-driven' or 'merger-arbitrage' hedge funds that bet on takeover or merger deals, reducing their risk by shorting, or selling, the acquirer and buying the target company.

  • Coronavirus turmoil poses test as Canada's Bombardier sheds assets
    Reuters

    Coronavirus turmoil poses test as Canada's Bombardier sheds assets

    Canada's Bombardier Inc <BBDb.TO> could face its first test as a standalone business jet maker as economic uncertainty linked to the rapid spread of coronavirus crimps demand for new corporate aircraft and has sparked fears of a recession, industry executives and analysts said. Bombardier plans to become a "pure play" jetmaker when it completes the sale of its rail division next year to France's Alstom SA <ALSO.PA>. Executives are seeing signs of softening business jet prices, and buyers who had been looking at new and pre-owned aircraft are now putting off their decisions, they said.

  • Bombardier CEO Alain Bellemare to step down
    Reuters

    Bombardier CEO Alain Bellemare to step down

    Under his watch, the company has narrowed its focus on making business jets, after offloading its stake in the A220 passenger jet program - formerly known as the C Series - to Airbus SE and selling the rail division to France's Alstom SA earlier this year. "With the five-year turnaround plan nearing completion, the board, including Mr. Bellemare, unanimously concluded that it was the appropriate time for a new leader to take the helm of the corporation," Bombardier said in a statement.

  • Alstom and Bombardier have 'strong case' for rail deal - Canadian pension fund CEO
    Reuters

    Alstom and Bombardier have 'strong case' for rail deal - Canadian pension fund CEO

    MONTREAL/TORONTO (Reuters) - Alstom SA <ALSO.PA> has a "strong case" to acquire Bombardier Inc's <BBDb.TO> rail business for up to 6.2 billion euros, without making too many important concessions, the chief executive of Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ) said. Charles Emond, Caisse's recently appointed CEO, said on Thursday the deal could succeed because of its contrast with an attempted merger between Alstom and Germany's Siemens AG <SIEGn.DE> which failed last year due to antitrust concerns. Canada's second-largest pension fund, which owns a 30% stake in Bombardier's rail division, would end up with an 18% stake in Alstom after the deal's approval.

  • Business jet deliveries hit decade high in 2019, helped by new models
    Reuters

    Business jet deliveries hit decade high in 2019, helped by new models

    MONTREAL/WASHINGTON (Reuters) - Business jet deliveries across the globe hit a decade high in 2019, the General Aviation Manufacturers Association (GAMA) said on Wednesday, helped by strong market demand for new models. Deliveries rose 15% from 703 to 809 jets, the highest level since 2009, GAMA said in its 2019 year-end aircraft billing and shipment numbers. Business jet deliveries are being underpinned by the ramp-up of new models by manufacturers like Bombardier Inc <BBDb.TO> and General Dynamics Corp <GD.N> unit Gulfstream Aerospace that offer longer ranges and amenities such as beds and hot showers at 40,000 feet.

  • Alstom, Bombardier shares fall after $6.7 billion rail deal
    Reuters

    Alstom, Bombardier shares fall after $6.7 billion rail deal

    PARIS/MONTREAL (Reuters) - Shares of Alstom SA and Bombardier Inc fell on Tuesday after the French firm agreed to buy its Canadian rival's rail division for up to 6.2 billion euros ($6.7 billion), a deal likely to draw scrutiny from competition regulators and unions concerned about job cuts. The cash and shares deal, announced Monday, will make the combined entity the world's second-biggest train maker after China's state-owned CRRC Corp. It is the latest attempt by Western rail firms to try to build scale as they try to compete effectively with CRRC. Bombardier shares were down 8.2% at C$1.52 near midday on Tuesday.

  • Reuters - UK Focus

    LIVE MARKETS-Italian banking M&A is getting real!

    You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@tr.com), Joice Alves (joice.alves@tr.com), Julien Ponthus (julien.ponthus@tr.com) in London and Danilo Masoni (danilo.masoni@tr.com) in Milan. It looks Italian banking M&A is finally happening after the country's top lender Intesa Sanpaolo launched a surprise 4.9 billion euro bid for rival UBI Banca.

  • Reuters - UK Focus

    LIVE MARKETS-On Our Radar: HSBC, Glencore, Italian banks and Alstom

    You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@tr.com), Joice Alves (joice.alves@tr.com), Julien Ponthus (julien.ponthus@tr.com) in London and Danilo Masoni (danilo.masoni@tr.com) in Milan. After hitting fresh highs yesterday, futures point to a lower opening for European bourses this morning after tech behemoth Apple said it will miss its revenue guidance as the coronavirus outbreak slowed production as well as demand in China.

  • Reuters - UK Focus

    LIVE MARKETS-European banks are killing it

    * Wall Street closed for Washington's Birthday Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@tr.com), Joice Alves (joice.alves@tr.com), Julien Ponthus (julien.ponthus@tr.com) in London and Danilo Masoni (danilo.masoni@tr.com) in Milan.

  • Reuters - UK Focus

    LIVE MARKETS-Luxury and virus: Not just about Chinese shoppers

    * Wall Street closed for Washington's Birthday Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@tr.com), Joice Alves (joice.alves@tr.com), Julien Ponthus (julien.ponthus@tr.com) in London and Danilo Masoni (danilo.masoni@tr.com) in Milan.

  • Reuters - UK Focus

    LIVE MARKETS-STOXX at new record: Now what?

    * Wall Street closed for Washington's Birthday Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@tr.com), Joice Alves (joice.alves@tr.com), Julien Ponthus (julien.ponthus@tr.com) in London and Danilo Masoni (danilo.masoni@tr.com) in Milan. After failing four times to break above the 400-points threshold over the last 20 years, the STOXX 600 has finally made it and by a decent margin!

  • Alstom in talks over $7 billion Bombardier rail deal
    Reuters

    Alstom in talks over $7 billion Bombardier rail deal

    France's Alstom is in talks to buy the train business of Canada's Bombardier in a potential $7 billion deal that marks the latest attempt by Western rail companies to bulk up in the face of Chinese competition. Alstom, the maker of TGV bullet trains that speed between French cities such as Paris and Nice, and several rivals are trying to build scale to compete with China's CRRC Corp, the world's largest train maker. The French firm was blocked last year by European regulators from merging with Germany's Siemens, while a previous flirtation between Siemens and debt-laden Bombardier to combine some train businesses fell apart in 2017.

  • Alstom nears deal to buy Bombardier's train unit - source
    Reuters

    Alstom nears deal to buy Bombardier's train unit - source

    The Wall Street Journal, which first reported the news, said Alstom is expected to buy the business using mostly cash and some stock. Quebec pension giant Caisse de dépôt et placement, which owns a 32.5% stake in Bombardier's train unit, has agreed to sell its stake to Alstom and buy a minority stake in the combined train company, the WSJ report said. Bombardier declined to comment on the report and Alstom did not immediately respond to a request for comment.

  • Bombardier exits commercial aviation, ending bold bet on promising jet
    Reuters

    Bombardier exits commercial aviation, ending bold bet on promising jet

    MONTREAL/OTTAWA (Reuters) - Bombardier <BBDb.TO> exited commercial aviation on Thursday, selling a loss-making plane programme that ended its high-stakes gamble on a new jet that once drove it to the brink of bankruptcy. The Canadian plane and train maker sold its minority stake in the A220 jet, formerly known as the CSeries, to Airbus SE <AIR.PA> for $600 million, and said it would take a $1.6 billion charge on the programme. Bombardier, which required government bailouts in recent years as it struggled to fund the programme, finally sold a majority stake to Airbus in 2017 for one Canadian dollar, partly to avert a potentially devastating trade challenge from U.S. planemaker Boeing Co <BA.N>.

  • Airbus likely to acquire Bombardier's remaining stake in A220 passenger jet: sources
    Reuters

    Airbus likely to acquire Bombardier's remaining stake in A220 passenger jet: sources

    MONTREAL/PARIS (Reuters) - Europe's Airbus SE <AIR.PA> is likely to acquire Canadian plane and train maker Bombardier Inc's <BBDb.TO> remaining stake in the A220 passenger jet program, two industry sources said. A deal for Airbus to buy the 33.58% share in the program was widely expected after Bombardier said in January it was reviewing the stake in the joint venture. Airbus and Bombardier both declined to comment.

  • Bombardier in talks to sell business-jet unit to Textron - WSJ
    Reuters

    Bombardier in talks to sell business-jet unit to Textron - WSJ

    The move will help the struggling Canadian train and plane maker to pare billions of dollars in debt, the report said. 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. Acquiring Bombardier's business jet unit would add the Global series of large-cabin aircraft to Textron's portfolio, which mostly makes small- and medium-sized corporate planes.

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