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Stock Market & Financial Investment News

News Breaks
June 10, 2014
07:32 EDTCGICeladon awarded four-year contract from RIMNET
CGI has been awarded a four-year contract to provide application support services to the UK's Radioactive Incident Monitoring Network. CGI will be responsible for ensuring that critical monitoring services are available should a potential nuclear incident occur overseas, enabling U.K. authorities to monitor incidents and coordinate any required emergency response. CGI will deliver application management and support services, as well as security management and facilities management. Support services will be delivered from CGI's accredited service center in South Wales, with hardware break-fix services delivered in partnership with CC Engineering, a small and medium enterprise in the U.K.
News For CGI From The Last 14 Days
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February 20, 2015
12:53 EDTCGICitigroup sees truck carrier stocks poised to outperform
With the U.S. economy growing quickly, the stocks of truck carriers are likely to outperform the S&P 500, Citigroup believes. WHAT'S NEW: Truck transportation prices and truck carrier stocks "respond most directly to economic growth," Citigroup analyst Christian Wetherbee wrote in a note to investors today. After carriers' truckload rates rose 4% last year, the rates should rise by a similar amount this year, Wetherbee predicted. Economic growth, along with the difficulties the carriers are experiencing with recruiting drivers, should be supportive of additional rate increases, the analyst stated. Wetherbee warned that the stocks of truck builders usually underperform during periods such as the current one, when a large amounts of U.S. class 8 trucks are being built. Consequently, truck carrier stocks present investors with an opportunity, while investors should be cautious on truck builders and parts suppliers, he wrote. Among truck carriers, Swift (SWFT) is particularly attractive, since it has underperformed its peers over the last year, Wetherbee stated. Additionally, the company's results appear likely to at least meet consensus estimates, the analyst predicted. He also kept a Buy rating on another truck carrier, Knight Transportation (KNX) and maintained a Buy rating on Cummins (CMI), which builds truck engines. The analyst kept a Hold rating on truck builder PACCAR (PCAR). OTHERS TO WATCH: Navistar (NAV) builds trucks and Celadon (CGI) is another truck carrier. PRICE ACTION: In early afternoon trading, Swift rose 1%, Knight Transportation gained 1.3%, Cummins added 0.7%, and PACCAR lost 0.5%.

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