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Company News

BUZZ-Bombardier shares plunge after co cuts FY earnings forecast

** Shares of Canadian train and plane maker fall as much 25.3%, erasing C$1.5 bln ($1.11 bln) of its market cap, after cutting FY earnings forecast

** Stock is the biggest loser on the Toronto bourse

** Co cut 2019 revenue est. by $1 bln to $17 bln

** Says adj. core earnings expected to be $1.50 bln-$1.65 bln vs prior forecast of $1.65 bln-$1.80 bln

** More than 9.7 mln shares changed hands, 1.2x their 30-day moving avg

** Stock currently trading down 15.4% at C$2.47, but still up more than 20% YTD ($1 = 1.3491 Canadian dollars) (Reporting by Debroop Roy in Bengaluru)

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