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Stock impact report

Embraer Sinks to Lowest Since ‘09 on $4.2 Billion Boeing Breakup [Yahoo! Finance News]

Embraer S.A. (ERJ) 
Last embraer s.a. earnings: 3/26 06:00 am Check Earnings Report
US:NYSE Investor Relations: ri.embraer.com.br
) -- Embraer SA tumbled to the lowest since 2009 after Boeing Co. scrapped a proposed $4.2 billion commercial-jet deal amid a severe slump in aircraft sales.The Brazilian planemaker has already begun arbitration proceedings, according to a regulatory filing Monday, two days after vowing to seek damages from Boeing. The U.S. aerospace giant pulled the plug April 25, citing unspecified issues. Last week, Embraer’s total market value fell to about a quarter of what Boeing had been poised to pay for the commercial-plane business alone.The deal’s collapse leaves Embraer on its own to face plunging aircraft sales as the coronavirus pandemic all but erases travel demand. With airlines forecasting a slow recovery from their worst-ever crisis, Embraer must also try to jumpstart orders for its upgraded E2 aircraft against a new offering from Airbus SE.“The termination is a negative for ERJ,” Cai von Rumohr, an analyst at Cowen & Co., said in a note to clients, using the ticker symbol for Embrae Show less Read more
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