Bombardier Inc. T.BBD.A

The Globe and Mail has a comment on Bombardier this morning:

[zimmee]

Globe says Bombardier told time for talk is over

2018-12-07 06:59 ET - In the News

 

The Globe and Mail reports in its Friday edition that Bombardier ($2.18) has lost half its market capitalization over the past six months as the company was swept up in broader market anxiety, particularly over heavily indebted companies. The Globe's Nicolas Van Praet writes that the decline accelerated when Bombardier unexpectedly cut its cash flow forecast during its Nov. 8 earnings report, a roughly $600-million (U.S.) miss that it blames on delays in train deliveries but which it expects to start making up in 2019. Chief executive officer Alain Bellemare and chief financial officer John Di Bert have been trying to limit the damage in private meetings with investors over the past month. At a gathering Thursday broadcast on the Internet, the entire management group tried to reverse the negative sentiment. Bombardier ended the day down another share price, which ended the day down another two cents, it will take more than words to win back skittish shareholders. "I think it'll be tough for [the company] to come back from this for a little while," Dan Fong of Veritas Investment Research said, adding the market will want to see the next earnings report before concluding that management has liquidity under control.

© 2018 Canjex Publishing Ltd. All rights reserved.