Why Embraer SA Stock Just Popped 31%
Shares of Brazilian airplane manufacturer Embraer (NYSE: ERJ) are soaring Thursday afternoon after a Wall Street Journal report broke mid-day, revealing that Boeing (NYSE: BA) has entered talks about possibly acquiring Embraer -- at a big market to the latter's current market cap.
Up as much as 31% initially, Embraer shares are still sitting atop a 17.6% gain as of 1:30 p.m. EST.
Like Boeing, Embraer builds passenger jets -- but will Brazil permit it to build them for Boeing? Image source: Embraer.
Source: Fool.com