(Adds comments from sources on CSeries, analyst comment,
paragraphs 5-6, 12-13)
By Allison Lampert and Euan Rocha
MONTREAL/TORONTO, April 26 (Reuters) - Canadian plane and
train maker Bombardier Inc BBDb.TO said on Tuesday it will be
moving forward its first-quarter results by a day to Thursday,
in a surprise announcement that only served to elevate market
expectations of a big CSeries order this week.
The Quebec-based company has seen its stock surge this month
on speculation of a major order for its CSeries passenger jets
from Delta Air Lines (NYSE:DAL) DAL.N . The Atlanta-based airline is set
to host a media event on Thursday.
"With the move in Bombardier's shares and the further jump
in the stock today, if they do not have a Delta order in their
back pocket I would not want to be their management team come
Thursday," said Morningstar analyst Chris Higgins.
"It looks like everyone's expecting it now and them moving
the earnings date is also suggestive."
Two sources familiar with the matter told Reuters on Tuesday
that one of Bombardier's CSeries test planes will be in Atlanta
on Thursday.
Both Delta and Bombardier declined to comment on the matter.
Bombardier shares, which have risen 53 percent since April
11, closed at a seven-month high of C$1.99 on Tuesday on the
Toronto Stock Exchange.
A deal with Delta would be a massive boost for Bombardier as
it would be the first major U.S. airline to purchase the
CSeries, which is entering service years late and billions of
dollars over-budget.
The company is currently seeking a $1 billion cash injection
from the Canadian government to help get the program back on
track.
A Delta commitment, coupled with a firmed up agreement for
45 CSeries jets with Air Canada AC.TO , would put Bombardier's
CSeries order book above the 300 mark, allowing the company to
hit a psychologically-important internal target by the time the
first plane enters service in July 2016.
Bombardier, which is set to hold its annual shareholder
meeting on Friday, said it plans to host a conference call to
review its results at 8 a.m. EDT (1200 GMT) on Thursday.
In a note to clients on Monday, Desjardins analyst Benoit
Poirier said he expects Bombardier to post weaker first quarter
results this week, but noted investors are focused elsewhere.
"We believe investors' main focus will be on the several
catalysts that are likely to materialize, including, we believe,
a sizeable CSeries order from Delta Air Lines and the firm-up of
the Air Canada order," he said. "Overall, these potential orders
could respark momentum in the program."