Why BlackBerry Ltd is a better turnaround stock than Bombardier Inc right now

Unlike BlackBerry, Bombardier has no prized assets that other companies would covet. And because Bombardier has roughly US$9 billion in debt, no competitor would be interested anyways.

Despite being in different industries, BlackBerry Ltd. (TSX:BB)(NASDAQ:BBRY) and Bombardier Inc. (TSX:BBD.B) possess a lot in common.

First of all, both have seen much better days. BlackBerry once dominated the smartphone market, only to be crushed by the iPhone and Android-based devices. Meanwhile, Bombardier was once a clear leader in the business jet market, but has since been put under strain through the development of its CSeries jets.

Each company even struggled to remain afloat at some point. Luckily, those issues happen to be largely handled, at least for now. BlackBerry received a capital injection from Fairfax in late 2013, while Bombardier raised billions in new funds earlier this year.

Now, their main worries are on the top line. BlackBerry\’s revenue continues to be shrinking, and software-based revenues are falling short of expectations. Meanwhile, Bombardier is well short of its target for CSeries orders, and have any momentum in this area.