Delays in some large projects hit its dominant transportation unit that makes rail cars
Canada’s Bombardier Inc cut its full-year profit and revenue forecasts on Thursday, as its key railcar-making unit wrestled with delivery delays and manufacturing challenges relating to a few large projects, sending its shares plummeting more than 18 per cent in early trading.
Shares tanked 18.5 per cent to US$2.39, and the stock was the top loser on the Toronto Stock Exchange. “This is not great news, but this is not like ‘the end of the world’ news,” William Blair analyst Nicholas Heymann said.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bombardier cuts financial outlook, full-year revenue down by $1 billionDelays in some large projects hit its dominant transportation unit that makes rail cars
Read more »
Bombardier slashes full-year revenue forecast by $1-billion, warns on lower profitPlane and train maker cites slower production ramp-up of some of its large projects in its transportation business
Read more »
Boeing says worldwide groundings of 737 Max jets costs US$1-billion in first quarterThe world’s largest maker of planes suspended its 2019 financial outlook and share buybacks on Wednesday as it works toward regulator certification of a software update designed to prevent more crashes
Read more »
Toyota, Denso, SoftBank invest US$1-billion in new Uber tech unitAdvanced Technologies Group will try to develop and commercialize automated ride-sharing services
Read more »
Ex-wife filed ‘false and fraudulent’ report in bid to extort $1-million from former Alberta attorney general: judge‘Palmer carefully timed her false and fraudulent accusations, immediately before the Provincial election . . . to cause the maximum amount of injury to Jonathan Denis’
Read more »
Boeing's troubled jet is costing $1 billion to fix so farBoeing is already estimating a $1 billion increase in costs related to its troubled 737 Max and has pulled its forecast of 2019 earnings because of uncertainty surrounding the jetliner, which remains grounded after two crashes that killed 346 people.
Read more »
Toyota, SoftBank, Denso invest $1-billion in Uber tech unitUber’s Advanced Technologies Group will try to develop and commercialize automated ride-sharing services
Read more »
Ontario Slashes Toronto Public Health Funding By $1 BillionThe cuts will take place over the next 10 years and will touch all of Ontario's health units, a Toronto city councillor says.
Read more »
Yellow vest anger burns in France, fuelled by donations to rebuild Notre DameProtesters annoyed by the $1 billion in donations for Notre Dame renovations from French tycoons, while their own economic demands remain largely unmet
Read more »
Ford government to cut $1-billion in funding to Toronto Public Health over 10 years, board chair saysIn a conference call, the Health Ministry told public health officials from across the province it would be phasing in funding cuts to some programs by as much as 50 per cent, Joe Cressy said, with municipalities left to fund the gap
Read more »