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CAE Inc.

Company NameCAE Inc.
Stock SymbolCAE

On May 21, 2024, CAE announced preliminary earnings for the fourth quarter 2024 and disclosed that it had initiated a “re-baselining” of its defense business due to underperforming fixed-price contracts. Further, the Company reported a $568.0 million non-cash impairment of defense goodwill, $90.3 million in unfavorable defense contract profit adjustments, and a $35.7 million impairment of related technology and other non-financial assets related to legacy contracts.

On this news, CAE’s stock price fell $1.03, or 5.2%, to close at $18.80 per share on May 22, 2024, thereby injuring investors.

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