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News Breaks
June 5, 2014
10:23 EDTGOGO, BDRBF, AALGogo announces partnership with American Airlines
Gogo (GOGO) announced that it has reached an agreement with American Airlines (AAL) to begin installing its ATG connectivity service on 30 new Bombardier (BDRBF) CRJ-900 NextGen aircraft, which will be delivered to American starting this month. The additional connected aircraft will build on the more than 850 aircraft in American's fleet that are currently equipped with Gogo's In-flight Internet services.
News For GOGO;AAL;BDRBF From The Last 14 Days
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January 23, 2015
14:29 EDTAALAmerican Airlines sued by 'whistleblower' mechanics, Dallas Morning News says
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06:39 EDTAALAirlines unlikely to cut fares despite 'enormous' savings, Reuters says
U.S. airlines said they expect to obtain "enormous" savings in 2015 from the decline in oil prices, according to Reuters. The airlines indicated that they would use the savings to pay down debt and return cash to shareholders, while refraining from cutting fares, the news service stated. Publicly traded companies in the space include American Airlines (AAL), Delta Air Lines (DAL), JetBlue (JBLU), Southwest (LUV) and United Continental (UAL). Reference Link
January 22, 2015
14:12 EDTBDRBFBombardier reports Alaska Air converts two Q400 options to firm orders
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12:28 EDTAALOn The Fly: Midday Wrap
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11:57 EDTAALAirline rally continues after companies report results
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09:16 EDTAALOn The Fly: Pre-market Movers
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January 21, 2015
06:52 EDTBDRBFBombardier announces assignment of three aircraft to Elix Aviation Capital
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January 20, 2015
06:39 EDTAALU.S. airlines may buy back shares amid cheap oil, WSJ reports
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January 16, 2015
10:56 EDTAALStocks with call strike movement; AAL YHOO
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10:01 EDTBDRBFOn The Fly: Analyst Downgrade Summary
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06:16 EDTBDRBFBombardier downgraded to Sector Performer from Outperformer at CIBC
06:16 EDTBDRBFBombardier downgraded to Neutral from Buy at Citigroup
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January 15, 2015
12:06 EDTGOGOGogo receives FCC regulatory approval for 2Ku In-flight connectivity technology
Gogo announced that it has received regulatory approval from the FCC to operate its next generation in-flight connectivity technology 2Ku. The FCC approval clears a major hurdle in the path to launching the new service. The approval is a blanket approval from the FCC for Gogo to operate its 2Ku system on 1,000 aircraft. Gogo expects the new 2Ku technology will outperform other global connectivity solutions currently available in the market. The new antenna technology is expected to deliver peak speeds to the aircraft of more than 70 Mbps. Gogo expects the new service to be available for the commercial aviation market in the second half of 2015.
10:29 EDTBDRBFRockwell Collins outlook assumes zero for Learjet 85, says Wells Fargo
After Bombardier (BDRBF) announced it will 'pause' development of its all-composite Learjet-85 business jet due to weak demand, Wells Fargo points out that Rockwell Collins (COL) supplies the Learjet 85's avionics. Wells finds it unclear if Bombardier's decision will trigger any impairment for Rockwell, but notes the company already stated its FY15 revenue guidance assumes zero for Learjet 85. The firm adds United Technologies unit Pratt & Whitney Canada supplies the Learjet 85's engines while LMI Aerospace (LMIA) takes part in the plane's engineering. Wells estimates about 3% of LMI's recent sales have been tied to Learjet 85 development.
08:17 EDTBDRBFBombardier to hold a conference call
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07:43 EDTBDRBFBombardier says Aerospace exceeded delivery target guidance
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07:42 EDTBDRBFBombardier sees FY14 Aerospace cash flow from operations about $800M
Cash flow from operating activities at Aerospace is expected to be approximately $800M while net additions to property, plant and equipment, or PP&E, and intangible assets are expected to be approximately $1.8B, compared with a previous guidance for cash flow from operating activities between $1.2B-$1.6B and net additions to PP&E and intangible assets between $1.6B-$1.9B. The variation in Aerospace's cash flow from operating activities is mainly due to a lower level of customer advances, a lower EBIT and an increase in used aircraft inventory. Free cash flow for Transportation is expected to be slightly positive compared with a previous guidance of free cash flow generally in line with EBIT. This variation is mainly due to a different cash flow profile in some contracts and a lower level of advances on options in relation to framework contract agreements. As of December 31, 2014, available short-term capital resources were approximately $3.8B, including cash and cash equivalents of approximately $2.4B.
07:40 EDTBDRBFBombardier says certain financial guidance will not be met
Bombardier stated that following a review of preliminary results compiled by Bombardier for the fiscal year ended December 31, 2014, it has become clear that certain financial guidance previously provided will not be met. Based on these preliminary results, Bombardier is updating its guidance for 2014. Earnings before financing expenses, financing income and income taxes, or EBIT, before special items at Aerospace is expected to be approximately 4% compared with a previous guidance of 5%. The variation is mainly due to increased provisions for credit and residual value guarantees, pricing pressure on new aircraft sold, as well as a decrease in fair value of used aircraft. EBIT before special items at Transportation is expected to be approximately 5% compared to a previous guidance of 6%. This variation is mainly due to revised escalation assumptions for some contracts which impacted estimated future revenues.
07:38 EDTBDRBFBombardier says certain financial guidance will not be met
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07:37 EDTBDRBFBombardier pauses Learjet 85 program, to reduce workforce by 1,000
Bombardier announced the pause of its Learjet 85 business aircraft program. The pause is due to weak demand for the Learjet 85 aircraft and follows a downward revision of Bombardier's business aircraft market forecast. This reflects the continued weakness of the Light aircraft category since the economic downturn. As a result, the company will record a pre-tax special charge in Q4 of approximately $1.4B mainly related to the impairment of the Learjet 85 development costs. Additionally, Bombardier will reduce its workforce by approximately 1,000 employees at its sites in Queretaro, Mexico, and Wichita, United States. A severance provision of approximately $25M will be recorded as a special item during 1Q15.
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