BUZZ-Bombardier Inc: Third straight day of declines

Tue Sep 20, 2016 3:32pm EDT
 
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** Canadian aircraft and train maker's shares down 4.57 pct at C$1.66, third straight day of losses

** Stock hits five-month low of C$1.61; about C$541 mln of market value wiped out at day's low since Friday

** On Friday, Bombardier's engine supplier, Pratt & Whitney, said it would deliver only 150 engines this year, down from 200 forecast previously

** Bombardier earlier this month sliced in half its 2016 delivery forecast for its CSeries aircraft forecast, blaming delays at Pratt & Whitney

** "Execution concerns and high debt are haunting the stock" an analyst, who declined to be named, told Reuters

** "Industry-wide demand for aircraft is muted," he said

** More than 14 mln shares traded, 3.5x their 30-day moving

** Up to Monday's close, stock had fallen 17.5 pct since the company slashed the forecast on Sept. 6