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Alstom

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finance2 years ago•3 min saved

European Stocks Soar on Positive U.S. and China Data

European markets opened higher as investors assessed data from the US and China. Siemens Energy shares rose over 7% after securing €7.5 billion in project-related state guarantees from the German government. French train manufacturer Alstom saw its shares plummet over 10% as it announced job cuts and asset sales. UK inflation fell to 4.6% in October, the lowest in two years. Analysts are divided on investing in the Chinese market, with some seeing opportunities while others remain bearish. Scotiabank identified 10 Canadian stocks as "prime candidates" for tax-loss harvesting.

via CNBC|

#alstom #chinese-economy #european-markets

business2 years ago•1 min saved

Alstom's Shares Plummet 37% on Cash Flow Downgrade

Shares of French train manufacturer Alstom plunged 35% after the company downgraded its free cash flow forecast, citing a fall from negative 45 million euros to negative 1.15 billion euros in unaudited half-year results. Alstom now expects free cash flow to range from negative 500-750 million euros for the full year, compared to a previous forecast of "significantly positive." The decline in shares wiped roughly 2.6 billion euros from Alstom's market value, making it the company's worst trading day in at least 20 years. Despite the downgrade, UBS analyst Supriya Subramanian maintained a "buy" rating on the stock and projected improvements in the second half of the year.

via CNBC|

#alstom #business #cash-flow