Why Embraer Stock Just Popped 13%

Last month, Boeing (NYSE: BA) terminated its deal to purchase most of Brazilian airplane maker Embraer (NYSE: ERJ) for $3.8 billion, sending Embraer stock into a tailspin. Only a few days later, however, news that Chinese airplane builder COMAC might want to step in and pick up the pieces sent Embraer stock flying again.

Today, the prospect of a bidding war is helping lift Embraer shares even higher -- up 13.1% as of 1:40 p.m. EDT.

Image source: Embraer.

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Source Fool.com