Embraer rally continues, BE Aerospace up strongly, Boeing and EADS report gains – Supplier Share Wra
After reporting better second quarter results late last week, Embraer’s stock price has climbed almost 20% in three days, the sharpest spike since Dec-2008, to finish trading yesterday at USD20.88 per share, a nine month high. The manufacturer’s better than expected margins and reaffirmation of its full year guidance prompted several credit analysts to upgrade the stock.
B/E Aerospace has also been trading strongly over the past few days, gaining 6.1% on Monday to hit a ten-month high of USD17.14 per share. The stock has been buoyed by expectations of a resurgence in aerospace ordering, as carriers that have run down inventories to begin to order aerospace equipment and components.
B/E Aerospace expects its component distribution business will be among the first to benefit from airlines beginning to revamp depleted inventory levels. The stock has gained more than 130% for the year-to-date.
Selected Aviation suppliers’ daily share price movements (% change): 03-Aug-09