Bombardier said it would only be able to meet its 2018 free cash flow estimate by using $635m in proceeds from the sale of a Toronto plant earlier this year. Picture: BLOOMBERG/MAURICO PALOS
Bombardier said it would only be able to meet its 2018 free cash flow estimate by using $635m in proceeds from the sale of a Toronto plant earlier this year. Picture: BLOOMBERG/MAURICO PALOS

Bombardier Inc’s top executives met investors in Montreal after a disappointing free cash flow forecast and regulatory action that sent the plane-and trainmaker’s shares down 20%, sources who are familiar with the matter said.

The Montreal meeting, hosted by Bombardier CEO Alain Bellemare and CFO John Di Bert, had been previously scheduled but "the [high] participation and level of interest was driven by recent events", said one of the two sources. Bellemare had already met with investors after the free cash flow forecast on November 8, which sent its shares down more than 23% on that day.

Viacom signs deal with Netflix

Viacom has announced a multipicture deal with Netflix, and promised to make more films and TV shows for other companies, further signalling that it will not directly take on big tech rivals that stream to consumers and will instead supply them with content. This strategy and the strength of the Tom Cruise blockbuster Mission: Impossible — Fallout at the box office helped Viacom beat profit and revenue expectations in the quarter ended September 30.

Reuters