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Stock Market & Financial Investment News

News Breaks
February 19, 2014
10:03 EDTCNICanadian National targets C$2.1B in 2014 capital investments
CN announced is targeting to spend more than C$1.2B in 2014 on track infrastructure and to improve the safety, productivity and fluidity of the network. This investment will include the replacement of rail, ties and other track materials, bridge improvements, as well as various branch-line upgrades. This envelope will also include funds for strategic initiatives and additional improvements to track infrastructure in western and eastern Canada as well as in the United States. CN's equipment capital expenditures in 2014 are targeted to reach approximately C$300M. CN in 2013 took delivery of 44 new and 37 second-hand high-horsepower locomotives and in 2014, CN will acquire an additional 45 new high-horsepower locomotives. CN also expects to spend approximately C$600M in 2014 on facilities to grow the business, including transloading terminals, distribution centers and the completion of its Calgary Logistics Park project. In 2013, CN's capital investment program totalled approximately C$2.0B.
News For CNI From The Last 14 Days
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March 31, 2015
12:11 EDTCNIRailroad sector downgraded to Market Underperform at Avondale
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March 26, 2015
10:04 EDTCNIOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Alere (ALR) upgraded to Neutral from Sell at Goldman... Canadian National (CNI) upgraded to Outperform from Market Perform at Cowen... Charles Schwab (SCHW) upgraded to Overweight from Underweight at Barclays... Con-way (CNW) upgraded at Stifel... Dr Pepper Snapple (DPS) upgraded to Buy from Hold at Stifel... Francesca's (FRAN) upgraded to Neutral from Sell at Goldman... GoPro (GPRO) upgraded to Outperform from Neutral at RW Baird... PartnerRe (PRE) upgraded to Outperform from Market Perform at BMO Capital... Rice Energy (RICE) upgraded to Overweight from Equalweight at Capital One... Saia, Inc. (SAIA) upgraded at Stifel... Sibanye Gold (SBGL) upgraded to Outperformer from Sector Performer at CIBC.
09:33 EDTCNICanadian National upgraded at Cowen
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06:28 EDTCNICanadian National upgraded to Outperform from Market Perform at Cowen
March 25, 2015
07:43 EDTCNIRail break caused latest Canadian National derailment, WSJ says
Canadian Nationalís latest derailment was caused by a rail break and the company is investigating whether track inspections are being conducted properly, reports the Wall Street Journal, citing Canadian National COO Jim Vena. Reference Link
March 23, 2015
16:20 EDTCNIOn The Fly: Closing Wrap
Stocks on Wall Street opened in relatively quiet fashion and remained that way throughout the session until a sharp selloff in the closing minutes. For most of the day the averages moved in a narrow range, as the Dow broke its streak of consecutive days with triple digit moves. Like stocks, the oil markets had a quiet session that stood out amid the recent volatility in crude prices. A late day drop prevented the major stock indexes from adding to the big gains they'd notched on Friday. ECONOMIC EVENTS: In the U.S., the Chicago Fed's national activity index fell to -0.11 in February, below expectations for a reading of 0.10. Existing home sales rose 1.2% to a 4.88M rate in February, which was below the consensus forecast for them to grow 2% to a 4.92M unit rate. COMPANY NEWS: Shares of Kansas City Southern (KSU) declined $9.21, or 7.96%, to $106.48 after the railroad operator lowered its fiscal year revenue guidance to reflect slower year-to-date carload growth primarily from the energy sector, along with a continued deterioration in the value of the Mexican peso against the U.S. dollar and lower fuel surcharge revenues driven by lower WTI prices. The revenue warning appeared to weigh on others in the rail industry as well, with Union Pacific (UNP) falling $4.67, or 3.98%, to $112.78, Norfolk Southern (NSC) dropping $3.87, or 3.5%, to $106.56 and Canadian National (CNI) sliding $1.13, or 1.65%, to $67.24. MAJOR MOVERS: Among the notable gainers was ImmunoGen (IMGN), which gained $1.25, or 16.8%, to $8.69 after Takeda (TKPYY) licensed rights to use the company's antibody drug conjugate technology. Also higher was Tenet Healthcare (THC), which rose $2.45, or 4.94%, to $52.07 after agreeing to combine its short-stay surgery and imaging center assets into a new joint venture with United Surgical Partners International. Tenet will initially own 50.1% of the joint venture and will consolidate its financial results and will have a path to full ownership of USPI over the next five years through a put/call structure, the company noted. Among the noteworthy losers was MEI Pharma (MEIP), which plunged $4.37, or 69.37%, to $1.93 and was downgraded by at least four Wall Street research firms after the combination of Pracinostat and azacitidine showed no difference in the rate of complete remission, the primary endpoint of a Phase II study, compared to azacitidine alone. Also lower were shares of Vertex (VRTX), which fell $5.21, or 3.98%, to $125.79 after reporting data from a study evaluating VX-661 in combination with ivacaftor in cystic fibrosis that JPMorgan said was generally below expectations. INDEXES: The Dow fell 11.61, or 0.06%, to 18,116.04, the Nasdaq lost 15.44, or 0.31%, to 5,010.97, and the S&P 500 dropped 3.68, or 0.17%, to 2,104.42.
12:17 EDTCNIOn The Fly: Midday Wrap
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06:49 EDTCNICanadian National derailments rose 73% in 2014, Reuters says
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March 17, 2015
13:16 EDTCNICN to build new C$250M intermodal and logistics hub in Milton, Ontario
CN announced a plan to build a C$250M intermodal and logistics hub adjacent to its main line in the Town of Milton, Ont., located approximately 30 miles west of Toronto. CN's intermodal business recorded 2014 revenues of more than C$2.7B. The new Milton facility will complement Brampton Intermodal Terminal, CN's existing Toronto-area intermodal terminal in Brampton, Ont. BIT, which is nearing capacity, but will continue to operate for the long term. CN will submit a complete project description of the planned Milton hub to the Canadian Environmental Assessment Agency for review.

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