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Company News

BUZZ-Bombardier Inc: Falls on weak free cash flow forecast

** Shares of Canadian plane and train maker fall as much as 26.6 pct to C$2.34; a record low since Oct. 2017

** Co maintains FY free cash flow forecast; below some analysts’ estimates

** “2018 free cash flow was lower than my expectations,” Morningstar analyst Chris Higgins says

** Co says it will sell two of its units and cut 5,000 jobs, or about 7 pct of total workforce, to reduce costs and focus on core business

** BBDb is in the middle of a five-year restructuring program aimed at increasing revenue and profit

** Including Thursday’s losses, stock has fallen 13.5 pct this year (Reporting by Debroop Roy in Bengaluru)

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