- Bombardier reported higher first-quarter cash burn on Thursday as the Canadian planemaker builds up inventory to support increased production of business jets amid resilient demand for private flying.The Montreal-based company is facing pressure from rival General Dynamics' Gulfstream, which had its flagship G700 luxury jet certified last month by the U.S. Federal Aviation Administration.
Revenue, however, declined 12% to $1.3 billion in the quarter due to the delivery of less pricier aircraft. But orders for Bombardier's jets rose 60% in the first quarter, pushing the company's backlog to $14.9 billion.Quarterly profit fell to $110 million from $302 million. On a per share basis, adjusted profit was 36 cents, compared with $1.06 a year earlier.Toronto-Dominion Bank is one stock I reversed course on in a big way.
Investors are ramping up their exits from Cathie Wood's ARK after an epic 72% decline in her flagship fund Tesla’s first-quarter net income plummeted 55%, but its stock price surged in after-hours trading Tuesday as the company said it would accelerate production of new, more affordable vehicles. The Austin, Texas, company said it made $1.13 billion from January through March compared with $2.51 billion in the same period a year ago. Investors and analysts were looking for some sign that Tesla will take steops to stem its stock's slide this year and grow sales.