Why Embraer Stock Just Popped 13%
Last month, Boeing (NYSE: BA) terminated its deal to purchase most of Brazilian airplane maker Embraer (NYSE: ERJ) for $3.8 billion, sending Embraer stock into a tailspin. Only a few days later, however, news that Chinese airplane builder COMAC might want to step in and pick up the pieces sent Embraer stock flying again.
Today, the prospect of a bidding war is helping lift Embraer shares even higher -- up 13.1% as of 1:40 p.m. EDT.
Image source: Embraer.
Source Fool.com
