Bombardier Bonds Decline After Rating Cut to Junk
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Bonds of Bombardier Inc., the world&#39;s biggest maker of train equipment, declined after Moody&#39;s Investors Service cut its credit rating two levels to junk.
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NEW YORK -- Wall Street fell sharply for a third straight session Thursday after rising bond yields stoked concerns that an interest rate cut later in the year is less likely. The Dow Jones industrials fell more than 100 points and the S&P 500 index hovered near the 1,500 mark.
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Stocks fell on Wednesday, reversing strong gains after the Federal Reserve slashed interest rates, roiled by fresh worries about more losses in the financial sector on fears big bond insurers will lose their top credit rating.
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Goldman Sachs Group Inc.   subprime mortgage bonds issued last year are being downgraded  by rating companies at the fastest rate of any issuer,  according to Citigroup Inc. research dated June 22.
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Stocks fell on Wednesday after Standard & Poor's downgraded its rating outlook on several bond insurers, suggesting further potential turmoil in the financial sector.
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Standard &amp; Poor&#39;s Ratings Services on Tuesday (Sept. 28) lowered its long-term ratings on Regional Bell Operating Companies (RBOCs) BellSouth Corp.
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Shares in train and plane-making giant Bombardier fall to a 10 year low following the departure of its chief executive.
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Stocks fell on Thursday as doubts grew about a plan by global central banks to unfreeze credit markets, sending financial shares lower.
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Stocks fell on Monday as savers demanded their money back from embattled British bank Northern Rock , adding to global credit concerns before an expected U.S. interest rate cut this week.
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US stocks were lower at midmorning on Monday, as talk of deal activity was offset by a renewed rise in bond yields.
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Standard &amp; Poor's downgraded its rating on Fidelity Investments parent FMR Corp. , citing lackluster performance at the Boston company's well-known mutual funds division. Standard &amp; Poor's analyst Charles D. Rauch said FMR faces "stagnant earnings and weak profitability" compared with peer investment companies, explaning why the rating on Fidelity's long-term notes was reduced to "AA-minus" from "AA." ...
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Stocks suffered their biggest drop in nearly a year on Tuesday after data showed the worst monthly contraction in the services sector since the last U.S. recession and Standard &amp; Poor's warned it could cut bank credit ratings.
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Stocks declined on Monday after brokerages downgraded banks and credit card companies on signs consumers are falling behind on debt payments, suggesting yet another pillar of the economy is shaky.
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LONDON, December 1  - Bombardier Inc (BBD.B.TOR) announced today plans to cut 2,200 more jobs at its train manufacturing unit, while reducing the production of its 50-seater regional jets, after having reported lower-than-expected third
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Bombardier Inc., the world&#39;s biggest maker of railway equipment, said third-quarter profit plunged 93 percent because of higher costs in the train business and fewer aircraft deliveries.
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MONTREAL - Bombardier Inc. will get a $209-million (US) reduction in the price it paid DaimlerChrysler AG in 2001 for the German company&#39;s rail equipment division.
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Moodyâs Investors Service may reduce the ratings of $5 billion of collateralized debt obligations after lowering the ratings of subprime mortgage bonds that make up the securities.