AIRBUS GROUP

At the end of Q3, Fisher Asset’s total portfolio was worth around $91 billion. We’ll focus on Fisher Asset’s top holdings, buys, and sells.

In 2018, the total trade between the US and the EU was $1.3 trillion. The trade deficit for the last year was $109 billion.

Last week, Delta Air Lines’ CEO told Bloomberg that the carrier is still hoping Boeing will build a new midmarket airplane, dubbed the Boeing 797.

In another setback, Boeing’s (BA) long-haul and wide-body 777X variant failed a stress test. The test was part of the FAA’s certification process.

On Wednesday, US stock indexes fell due to recession signals. The Dow Jones Industrial Average (DIA) was the worst performer with a 3.05% fall.

Textron’s (TXT) revenues in 3Q16 rose 2.2% to ~$3.3 billion, missing estimates by $150 million. Sales growth was driven by 2.1% inorganic growth.

Troubles in the helicopter manufacturing industry are another example of how the downturn in the oil industry has had a domino effect across sectors.

Transdigm Group (TDG) became public in March 2006. Since then, the company’s stock has compounded wealth at an astonishing clip.

On May 24, Transdigm announced that it signed a definitive agreement to acquire DDC from Behrman Capital for a purchase price of $1 billion in cash.

Despite a significant drop in profits, Spirit AeroSystems Holdings’ (SPR) FCF (free cash flows) were flat YoY (year-over-year) at $161 million.

Spirit AeroSystems’ revenues increased by 7.7% YoY to $1.83 billion in 2Q16. This was higher than Wall Street estimates of $1.69 billion.

In 2Q16, Spirit AeroSystems’ Fuselage Systems represented 50% of total revenues. Propulsion Systems and Wing Systems made up 26.3% and 23.2%, respectively.

United Technologies (UTX) achieved 100% conversion of net income into cash flows in 2Q16 compared to 76% in 2Q15.

Honeywell’s (HON) Aerospace (ITA) segment is its largest business unit. It contributed to 37.8% of the company’s sales in 2Q16.

The Vanguard PRIMECAP Fund Investor Shares has risen by 2.1% in 2016, placing it among above-average performers in the pack of 12 funds in our review.

In light of Berkshire’s Precision Castparts acquisition, some analysts believe that Arconic could be worth more than the combined entity of Alcoa.

Honeywell (HON) Aerospace was Honeywell’s largest business segment in 2015, constituting 39.5% of total company sales.

In its Primary Metals segment, Alcoa expects the ATOI to increase by $10 million in 2Q16.

Valuation multiples are a key metric that investors consider. Investors can assess a company’s valuation with respect to its peers’ valuations.

Market participants who are bullish on Alcoa (AA) point to Berkshire Hathaway’s (BRK-B) acquisition of Precision Castparts.

The adoption of specialty materials in the aerospace industry is being driven by the rising use of lightweight alternatives over traditional equipment.

The T. Rowe Price International Stock Fund (PRITX) has been in existence since May 1980.

The aerospace industry contributed a return of 0.83% to FEZ’s performance on Wednesday, January 13. Aerospace stock Airbus (EADSY) returned 0.83%.

On Wednesday, January 13, 2016, the stocks at the top of the SPDR Euro STOXX 50 ETF (FEZ) were Repsol, Total (TOT), Enel, ENI (EAA), Danone (DANOY), Axa, Airbus (EADSY).

The auto manufacturing industry was the biggest loser with a negative return of 1.5% on Tuesday, January 5, 2016. Volkswagen (VLKAY) stock alone fell 2.8%.

Since the EU is a net importer of crude oil, falling oil prices will have a positive impact on the economy. Oil and gas account for 7.3% in FEZ.

The oil and gas industry provided the return of -13% in 2015. Stocks like Total (TOT), Eni (EAA), and Repsol returned -3%, -5%, and -32%, respectively, in 2015.

Crude oil and commodity prices continued to fall. This made investors nervous. They exited their positions in both the equity and commodity markets.

Bayer announced that it’s accelerating its investments in more cancer drugs. It may have five cancer drugs on the market by 2020. The news drove the stock, and it rose 2.1% on December 10.

The Putnam Europe Equity Fund rose 4.5% in October 2015 from a month ago. It fell 4.7% in the three-month period ended October 30, 2015.

The T. Rowe Price International Stock Fund (PRITX) requires a minimum initial investment of $2,500. PRITX is a no-load fund.

The Columbia European Equity Fund Class A (AXEAX) fell by 3.8% in September 2015 from the previous month. AXEAX’s exposure to financials cost the fund.

Boeing’s commercial aircraft carry 100–500 passengers, including dual-aisle wide-body aircraft and narrow-body planes with four- to seven-across seating.

Forecasts show the civil aerospace market could see a global demand of 27,000 new airliners by 2031. This points to a great market outlook for Embraer.

Embraer has made a mark in the regional jet market, but now there may be significant threats for Embraer as it faces tough competition from established players.

Embraer’s commercial aircraft family of jets caters to the narrow-bodied segment. Its ERJ 145 family and EMB 120 Brasilia jets belong to the three-abreast cabin subsegment.

An introduction to Embraer is incomplete without comparing its returns to the index. Embraer (ERJ) slightly outperformed the index ETF (SPY) year-to-date.

Part of Boeing’s strategy in Asia-Pacific will be to offer its reengineered 737 MAX, which the company says is 14% more fuel-efficient than competing jets.

Boeing’s global competitors include Airbus, Embraer, and Bombardier.