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Stock Market & Financial Investment News

News Breaks
March 25, 2014
15:01 EDTCNICN announces plan to phase out company fleet of DOT-111 tank cars
Earlier today, Canadian National annouced it is carrying out a gradual phase-out of its small fleet of 183 legacy DOT-111 tank cars used to transport diesel fuel for its locomotives to yard terminals. CN is investing C$7M to replace all the DOT-111 tank cars it owns outright with 40 new tank cars meeting the latest regulatory standards by the end of this year. The remaining 143 leased DOT-111 cars will also be replaced with a gradual phase-out plan completed as leases mature over the next four years.
News For CNI From The Last 14 Days
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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 National’s 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.
March 16, 2015
16:45 EDTCNICanadian National announces union members ratify labor contracts
CN announced that members of the Unifor union have ratified the clerical/intermodal, Savage Alberta Railway, excavator-operator and CNTL owner-operator collective agreements. The Company is awaiting the results from the mechanical bargaining unit represented by Unifor Local 100R. Unifor represents 4,800 CN employees in four bargaining units at CN – clerical/intermodal; mechanical; CNTL truck owner-operators; and excavator-operators. The clerical/intermodal, CNTL and excavator-operators agreements which were ratified all have a 51-month term. These agreements provide wage and benefit improvements and revise work rules to improve service and productivity.

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