- Shares in Bombardier (OTCQX:BDRBF +13.5%, OTCQX:BDRAF +5.6%) rose in their biggest gain in seven weeks after an investor presentation cheered shareholders looking for the company's direction after new government investments.
- New CEO Alain Bellemare and his team gave a presentation where they said lower production of business jets would drive down revenue as well as earnings in 2016, but that the company would target higher-profile buyers of its CSeries jets and build that fleet to 250 aircraft by 2020.
- “People like the management,” Canaccord Geniuity's David Tyerman told Bloomberg. “This management team gives a ton more information than the previous team. At least we have an idea of where we are going.”
- The company wants to deliver 30-35 CSeries craft in 2017, and up to 55 the year after that.
- The investor day was the first real news since Quebec's government and its public pension fund manager promised $2.5B in investments to mitigate liquidity risk.
- Previously: Bombardier's investor day gets underway (Nov. 24 2015)