Embraer is trading at $67.91, down 4.14%, as a report links the decline to a selloff in U.S.-listed Brazilian shares after Luiz Inácio Lula da Silva’s surprise weekend election victory.
- The report also notes modest analyst-rating trims.
- U.S. indices are slightly higher, so the decline does not appear to track the broader U.S. market.
- Embraer recently reported a record US$35.7 billion backlog, but that earlier positive news does not explain the current decline.