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Stock Market & Financial Investment News

News Breaks
February 11, 2014
04:55 EDTCNW, CNW, R, R, ABFS, ABFS, RLOG, RLOG, ULTR, ULTR, KSU, KSU, CNI, CNI, UNP, UNP, CP, CP, SWFT, SWFT, GWR, GWRStifel to hold a conference
Transportation and Logistics Conference is being held in Palm Beach, Florida on February 11-12.
News For CNW;SWFT;CP;UNP;CNI;KSU;ULTR;RLOG;ABFS;R;GWR From The Last 14 Days
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September 30, 2014
09:35 EDTCNWCon-way enhances driver pay package at Con-way Freight
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September 29, 2014
18:18 EDTCPCanadian Pacific raises share repurchase authorization to 8% from 3%
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September 26, 2014
12:06 EDTCNICanadian National sees frac-sand franchise generating C$300M in 2014
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September 25, 2014
16:17 EDTSWFTOn The Fly: Closing Wrap
Stocks on Wall Street were sharply lower and suffered their worst day in nearly two months, with market participants pointing to a number of reasons for the broad-based weakness. Shares of Apple (AAPL) were a drag on the market, and particularly on the Nasdaq, as the tech giant slid after a number of reports pointed to customer issues with its new iPhone 6 and an update to its mobile operating system. Cautious comments about rates by a noted Federal Reserve "hawk" may have also contributed, as well as reports that Russia may respond to U.S. and EU sanctions with a new law that will allow it to seize foreign property within the country. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 12K to 293K in the week ended September 20, though this was below the consensus forecast for 296K new claims. Durable goods orders fell 18.2% in August following a 22.5% surge in July. However, excluding transportation, orders were up 0.7%, which was a bit above the forecast for a 0.6% increase. Additionally, the head of the Dallas Federal Reserve, Richard Fisher, said that the central bank may start raising rates in the spring of 2015, which is earlier than most market watchers expect. Also, a Reuters report that Russia has drafted a law that would allow it to seize foreign assets on Russian territory to compensate those impacted by sanctions or who have had their own property seized outside of Russia garnered significant attention. COMPANY NEWS: Apple declined $3.88, or 3.81%, to $97.87 after reports yesterday from various tech blogs said the company pulled a new update of iOS 8 after complaints that the new software was crashing cellular service and Touch ID on users' phones. Other reports indicate the new iPhone 6 is reportedly bending in some owners' pockets, though the company told CNBC's John Fortt that it has only received nine customer complaints regarding bent phones. Also, Barron's reported that Apple insiders, including CEO Tim Cook, have sold over 1.4M shares of Apple stock this month. MAJOR MOVERS: Among the notable gainers was Swift Transport (SWFT), which gained $1.83, or 9.56%, to $20.98 after the company backed its Q3 earnings outlook and said it was "cautiously optimistic" about the trends it has seen as a result of its strategic decision regarding driver compensation. Also higher was IGI Laboratories (IG), which rose $1.36, or 18.26%, to $8.81 after the company acquired the regulatory rights and related documents and records for 18 drug products from AstraZeneca (AZN). Among the noteworthy losers was BlackBerry (BBRY), which fell 71c, or 6.76%, to $9.80 the day before it reports on its quarterly results. Ahead of tomorrow morning's report, BGC Financial analyst Colin Gillis downgraded shares of the smartphone maker to Hold from Buy, saying the company's results "may prove underwhelming." Also lower were shares of adhesives maker H.B. Fuller (FUL), which fell $6.30, or 14.32%, to $37.68 after the company's third quarter results and fourth quarter profit outlook missed analysts' consensus estimates. INDEXES: The Dow plunged 264.26, or 1.54%, to 16,945.80, the Nasdaq dropped 88.47, or 1.94%, to 4,466.75, and the S&P 500 declined 32.31, or 1.62%, to 1,965.99.
11:35 EDTSWFTSwift Transport backs Q3 adjusted EPS view 33c-37c, consensus 35c
Due to the unforeseen issues that inhibited management from being able to participate in the RBC Capital Markets’ Industrials Conference earlier this month, and in anticipation of the upcoming American Trucking Associations Conference, management felt it prudent to provide public updates on the current quarter. President and COO, Richard Stocking explains, “We are pleased with the results we are experiencing thus far from the over-the-road driver wage increases that went into effect on August 4th. Although this increase has only been in place for a couple of months, the feedback we have received to date from drivers has been very positive. Equally important is the impact it has had thus far on our operational results. Currently, our driver academies are full, and we are experiencing record recruiting weeks. When compared to the second quarter of 2014, our company driver turnover of our over-the-road fleets has improved more than 16 percentage points, and is currently well below industry average. Additionally, our company wide unseated truck count has declined approximately 20% from the end of the second quarter, and the utilization in our linehaul fleet has improved by more than 3% year over year in the current quarter. Finally, we have been actively working with our customers to achieve the commensurate rate increases required to help cover the cost of the changes to driver pay, and have been encouraged by their response. We expect the increase in our revenue per loaded mile excluding fuel surcharges in our core over the road business to increase 4% - 5% on a year over year basis. We know it is early, but we are cautiously optimistic about the trends we are seeing as a result of the strategic decision we made regarding our driver compensation.”
06:39 EDTCPCanadian Pacific to host two day investor meeting
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September 24, 2014
14:02 EDTCNICanadian National sells rail line to Metrolinx for C$76M
Canadian National announced the purchase by Metrolinx of a segment of Canadian National rail line principally used by GO Transit commuter trains in the Georgetown-Kitchener, Ont., area west of Toronto for C$76M. Metrolinx is acquiring the segment of Canadian National's Guelph Subdivision from a point west of Main Street in Georgetown to a location near Park Street in Kitchener. Canadian National will retain freight operating rights over the line segment sold to Metrolinx.
07:57 EDTRRyder selected by Chrysler Mexico
Ryder (R) announced it has been selected by Chrysler Mexico to manage a cross dock operation at the Port of Altamira, feeding parts from an overseas supplier to Chrysler’s manufacturing assembly plant in Mexico. Ryder is responsible for receiving sea containers from two Italian consolidation centers, facilitating the customs process and transloading the shipments into trailers for delivery to the plant. Ryder will use its engineering knowledge to optimize the trailer loads, resulting in reduced transportation spend for Chrysler. Ryder’s services are supported by an EDI technology that connects Ryder, Chrysler, and the supplier. This system enables Ryder to share information with customs brokers, transportation partners, and the Chrysler assembly plant, improving visibility and ensuring quality, timely delivery. Chrysler is owned by Fiat (FIATY).
September 22, 2014
16:06 EDTRLOGRand Logistics announces settlement of proxy contest with JWEST
Rand Logistics announced that it has reached an agreement with JWEST, a significant stockholder of the company, ending JWEST's proxy contest for Rand's upcoming annual meeting of stockholders. JWEST is withdrawing its proposed nominees for Rand's board and Rand management will revise its slate of nominees to include existing independent director, John Binion, and Jonathan Evans of JWEST. Both parties have agreed to support the candidacy of Binion and Evans. As part of the agreement, Rand's existing lead independent director, Michael Lundin, will be appointed as chairman of Rand, Laurence Levy will be appointed to the new position of executive Vice Chairman and Edward Levy will be appointed as CEO. In addition, Jonathan Evans will be appointed to the Compensation Committee of the board. Rand has also agreed to add an additional independent director to the board within three months of the annual meeting. Finally, Rand has agreed that it will not renew its reimbursement agreement with Hyde Park Real Estate LLC when it expires in February 2016.
07:25 EDTKSU, CNICitigroup to hold a conference
Industrials Conference to be held in Boston on September 22-24.
September 19, 2014
06:40 EDTSWFTRegulator sued over truck training requirements, NY Times reports
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September 18, 2014
07:22 EDTCNICanadian National fined for missing grain quota, Globe and Mail reports
The Canadian government is imposing its first monetary penalty under the recently passed Fair Rail for Grain Farmers Act, fining Canadian National Railway for failing to move its required minimum amount of grain each week, said The Globe and Mail, which noted that a CN spokesman said the company had not been informed by the government about the fine. Reference Link
September 17, 2014
07:39 EDTCPMorningstar to hold a conference
Management Behind the Moat Conference to be held in Chicago on September 17-18.

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