Sector Update: Industrials; Bombardier to Showcase CSeries at Farnborough Airshow, Open Dubai Regional Support Office, DragonWave Cuts Operating Costs by 50% Since Nokia Deal

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Industrial shares were mixed in afternoon trading. The S&P/TSX Industrials index was up 0.7%.

Bombardier (BBD-B.TO): +0.3%

Dragonwave (DWI.TO): -2.4%


Canadian Pacific Railway (CP.TO): +1.5%

WestJet (WJA.TO): -0.3%

Air Canada (AC-B.TO): +0.5%

In corporate news, Bloomberg reported Friday that Bombardier executives are heading to the Farnborough International Airshow next week to showcase the CSeries flight deck and cabin demonstrator but not the actual aircraft, which is grounded at home in Canada after an engine failure during testing and no firm date for when it will be back in the air.

Separately, the plane maker said late Thursday that it opened a new Regional Support Office ( RSO ) in Dubai, United Arab Emirates, the 23rd Bombardier RSO to open in the network that will provide in-region account management support for all CRJ and Q-Series aircraft operators.

Meanwhile, DragonWave CEO Peter Allen told Canada's BNN TV that the company has cut operating expenses by 50% since the Nokia deal and global recession, and it still has the momentum to eliminate cash flow woes by second half 2015.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: RSO

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