By William Trent, CFA of Stock Market Beat
To be honest we didn’t even know they had one, but Airbus parent EADS has sold its small stake in Brazilian regional jet maker Embraer (ERJ).
.:: Aero-News Network: The Aviation and Aerospace World’s Daily/Real-Time News and Information Service ::.
Europe’s largest aerospace manufacturer has sold it’s 2.12 percent stake in Brazilian aircraft manufacturer Embraer for $163 million.In a statement to the Financial Times, EADS said it had earmarked its investment in Embraer for sale as the group focused “its attention on core matters and projects that will provide future growth opportunities.”
The problem is, as we have noted many times, the growth opportunities are with Embraer and the regional jets. If anything, EADS should have sold its own business and bought the other 98% of Embraer.
The author may hold a position in the securities discussed. The author’s current holdings are as follows: Long: Union Pacific (UNP) put options; Air Products (APD) put options; Bookham (BKHM; Ballard Power (BLDP); Syntax Brillian (BRLC); CMGI (CMGI); Genentech (DNA); Ion Media Networks (ION); Three Five Systems (TFS); IShares Japan (EWJ); StreetTracks Gold (GLD); Starbucks (SBUX); U.S. Oil Fund (USO); Plantronics (PLT) call options; Short: Landstar (LSTR) put options; Plantronics (PLT) put options;
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