Embraer shares rise as BofA/Merrill Lynch upgrade stock – Suppliers Share Wrap
Embraer shares rose 3.5%. The company’s stock was upgraded from "underperform" to "buy" by Bank of America/Merrill Lynch, citing its dividend yield and lower cost prospects. Embraer commenced construction of two new factories in Portugal, part of an EUR168 million manufacturing investment in the country. The factories will initially focus on logistical support for executive jets, moving on to wing and composite tail manufacturing.
Shares in Aircastle traded up 3.6%, ahead of the release of the leasing company’s 3Q2010 earnings. Earnings estimates range from USD0.17 to USD0.25 per share, with revenue estimates above USD130 million.
Technology solutions JBT Corporation provider lost 3.3% yesterday. The company reported 3Q2010 diluted earnings per share of USD0.32, up 10% from $0.29 for the same period a year ago. JBT’s full-year diluted earnings per share guidance range narrowed to USD1.20-1.28 per share. Order volume rose to USD240 million in the quarter, up 19% year-on-year, pushing the company’s order backlog to USD342 million, an increase of 31% from the same time last year.
Selected Original Equipment Manufacturers daily share price movements (% change): 03-Nov-2010
Selected Aviation Suppliers & Leasing daily share price movements (% change): 03-Nov-2010