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Dynamic quotes 
OFFON

Romain
Fournier

Journalist
By the same author
More articles

GLOBAL MARKETS LIVE: Boeing suffers, along with airlines

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03/12/2020 | 11:20am EDT

Donald Trump's decision to ban transatlantic flights outside the United Kingdom and Ireland will cause damage to the air transport industry. Boeing is suffering martyrdom.

"Travel Ban". Airlines and the tourism sector as a whole will suffer a new shock with Donald Trump's 30-day ban on transatlantic travel. The US President has banned air exchanges with Europe, except for the United Kingdom and Ireland.  American Airlines fell more than 14 %, Delta Airlines, United Jet Blue... So many players exposed air travel will be affected.

Boeing's worst crisis. The group is working to preserve its liquidity with the current crisis, which comes on top of the B737 MAX crisis, causing the Boeing share, deserted by burned investors, to plunge to -18.15% yesterday at closing. COVID-19 will have an impact on the ability of airlines to renew their fleets and take delivery of orders already placed. We should expect delays in the coming weeks, hoping that the number of carrier bankruptcies will be limited.

Pressure is mounting on Occidental. Carl Icahn is raising Occidental Petroleum's share to nearly 10%, according to Wall Street Journal reports. By the end of 2019, the billionaire was credited with about 2.5%. The share of the oil group sank again yesterday, with the announcement of cost-cutting measures and a reduction in its dividend, in a heavy atmosphere for the sector. The stock has lost more than 70% of its value since 1 January.

Change of driver. Bombardier appoints Eric Martel as President and CEO as of April 6, from Hydro-Québec. Alain Bellemare therefore leaves the company prematurely, after negotiating the sale of the rail division to Alstom. "With the five-year recovery plan almost complete, the members of the board, including Alain Bellemare, unanimously concluded that the time had come for a new leader to take the reins of the company," the company said modestly in its press release. Martel had already worked at Bombardier before leaving for Hydro-Québec.

In other news. Baloise increases its dividend to CHF 6.40. Zur Rose is modernizing its organization and strengthening its management. Dufry will adapt to the new air transport situation by adjusting its costs and staffing levels. Meyer Burger increases its losses. Stefan Schulze will take over as CEO of Vifor Pharma. Best Buy’s president Hubert Joly is leaving the company.

 



Stocks mentioned in the article
ChangeLast1st jan.
AMP LIMITED -3.35% 1.3 End-of-day quote.-32.11%
AT HOME GROUP INC. -4.26% 20.635 Delayed Quote.275.64%
BEST BUY CO., INC -2.03% 111.01 Delayed Quote.26.74%
BEST INC. -5.45% 2.55 Delayed Quote.-53.24%
BOMBARDIER INC. -3.85% 0.31 Delayed Quote.-83.81%
BÂLOISE-HOLDING LTD -3.89% 122.7 Delayed Quote.-28.06%
CHANGE INC. 3.40% 8510 End-of-day quote.485.28%
DUFRY AG -5.19% 34.18 Delayed Quote.-60.45%
JUST GROUP PLC -3.42% 42.46 Delayed Quote.-45.22%
LONDON BRENT OIL -3.74% 38.97 Delayed Quote.-38.33%
MAX CO., LTD. -0.92% 1506 End-of-day quote.-31.36%
MEMBERS CO., LTD. -1.38% 1788 End-of-day quote.-21.48%
OCCIDENTAL PETROLEUM CORPORATION -4.96% 9.06 Delayed Quote.-78.62%
THE BOEING COMPANY -3.79% 149.97 Delayed Quote.-54.15%
THE GLOBAL LTD. 2.65% 232 End-of-day quote.-50.74%
THE NEW HOME COMPANY INC. -3.23% 5.17 Delayed Quote.6.22%
WILL GROUP, INC. -3.35% 809 End-of-day quote.-35.38%
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