Rolls-Royce (RR.) followed up recent updates on the Trent 1000 engines and workforce lay-offs with a capital markets day that fleshed out what the new restructuring proposals could mean for costs, margins and cash flows. Though Warren East and his team might be well advised to avoid any late-night reveries in Derby – at least for the time being – the planned blood-letting certainly played well with the market, evidenced by a double-digit hike in the aerospace giant’s share price, leaving it at a multi-year high.
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Taking Stock
Fossil fuel divestment spurs consolidation
The proposed Chevron/Anadarko tie-up could herald further consolidation
Mark Robinson