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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.
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October 2, 2015
09:01 EDTCNWCon-way Freight announces fall general rate increase
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07:54 EDTCNWXPO management, customers 'very excited' about deal, says Deutsche Bank
Deutsche Bank analyst Robert Salmon says the management of XPO Logistics (XPO) along with the company's customers are "very excited" about the pending acquisition of Con-way (CNW). The addition of Con-way's large asset-based trucking company has put XPO "on the map," Salmon tells investors in a research note. He reiterates a Buy rating on the stock with a $42 price target after meeting with management.
07:46 EDTSWFTSwift Transport shares oversold, says Wells Fargo
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October 1, 2015
09:30 EDTUNP, GWR, CP, KSURails sector upgraded to Market Weight from Market Weight at Wolfe Research
Wolfe Research upgraded the Rails Sector to Market Overweight citing limited downside in earnings and valuations at current levels. The firm recommends investors aggressively buy rail stocks again given below market multiples and double-digit earnings growth next year. As part of the sector upgrade, the analyst raised Norfolk Southern to Outperform from Peer Perform.
September 30, 2015
12:26 EDTKSU, CP, UNP, CNIRails advance after Goldman says rate of volume declines improving
Shares of railroad operators are advancing after Goldman Sachs moved its Rails coverage view to Attractive from Neutral. WHAT'S NEW: In a note to investors, Goldman Sach's Tom Kim and team said while rail volumes continue to contract, the rate of change has begun to improve and the firm sees this as an early inflection indicator. The negatives in the rail sector appear to be well known as the sector has been under "significant" selling pressure since peaking in the fourth quarter of 2014, added Goldman Sachs. The firm sees structural improvement in the profitability of the rail sector as operating margins for 2015 are estimated to have expanded to 35% from 29% in 2010. Goldman thinks the negative earnings per share revisions cycle for rails is over and that investor expectations are achievable. The firm sees earnings as a catalyst for sector performance and believes carloads will grow again in 2016 with 4% year-over-year growth in intermodal. WHAT'S NOTABLE: Kim upgraded Canadian Pacific (CP) to Buy from Neutral and reiterated its Buy rating on Union Pacific (UNP). The firm sees upside potential for Canadian National Railway (CNI), CSX (CSX), Kansas City Southern (KSU), and Norfolk Southern Corporation (NSC), but it maintained its Neutral ratings on those names as the firm expects these stocks to trade in-line with its broader Transportation coverage universe. PRICE ACTION: In afternoon trading, shares of Canadian Pacific are up nearly 3%, while Union Pacific is higher by almost 1%. CSX is advancing 2.2%, while Canadian National Railway, Kansas City Southern, and Norfolk Southern Corporation are each up over 1%.
10:00 EDTCPOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Analog Devices (ADI) upgraded to Buy from Neutral at Citi... Asbury Automotive (ABG) upgraded to Neutral from Underperform at BofA/Merrill... Brookfield (BAM) upgraded to Outperform from Market Perform at BMO Capital... CNOOC (CEO) upgraded to Buy from Hold at Jefferies... Canadian Pacific (CP) upgraded to Buy from Neutral at Goldman... Citizens Financial (CFG) upgraded to Buy from Neutral at UBS... Esperion (ESPR) upgraded to Neutral from Sell at Chardan... HSBC (HSBC) upgraded to Buy from Neutral at UBS... Hecla Mining (HL) upgraded to Outperformer from Sector Performer at CIBC... Johnson Controls (JCI) upgraded to Outperform from Market Perform at William Blair... Level 3 (LVLT) upgraded to Buy from Neutral at UBS... Madison Square Garden (MSG) upgraded on asset value, share buyback outlook at Stifel... Medivation (MDVN) upgraded to Market Perform from Underperform at Cowen... PHH Corp. (PHH) upgraded to Buy from Neutral at Compass Point... Post Holdings (POST) upgraded to Buy from Neutral at SunTrust... Ralph Lauren (RL) upgraded to Buy from Neutral at UBS... Regions Financial (RF) upgraded to Buy from Hold at Sandler O'Neill... Shire (SHPG) upgraded to Hold from Reduce at HSBC... Sinopec (SNP) upgraded to Buy from Hold at Jefferies... Verifone (PAY) upgraded to Buy from Hold at Argus.
08:08 EDTUNP, KSU, CNI, CPRails sector upgraded to Attractive from Neutral at Goldman
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07:50 EDTCPCanadian Pacific upgraded to Buy from Neutral at Goldman
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06:55 EDTCNWXPO CEO: Not worked up about Con-Way deal stock hit, WSJ reports
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September 29, 2015
16:36 EDTCPCanadian Pacific acquires Steelcare, terms not disclosed
Canadian Pacific has acquired Steelcare, Canada's largest steel transload facility. Steelcare is a transload and distribution hub providing superior transloading, warehousing and distribution services of steel products. Steelcare's Plant Six facility in CP's Aberdeen yard in Hamilton, Ontario, is a 168,000-square-foot facility featuring two drive-through rail and truck loading and unloading areas. Steelcare is able to handle up to 1.5M tons of rail transload product in a given year. The transaction includes TransCare Logistics Corporation, Prometheus Six Inc. and East Port Warehousing & Distribution. Projected yearly revenue as a result of the transaction is approximately $10M. The intent is to keep the current management structure and employees in place. Clements will also serve as Steelcare's Executive Vice President.
September 28, 2015
18:02 EDTCNWCon-way says FTC grants early termination of waiting period
Con-way (CNW) announced in a regulatory filing that on September 25, the FTC granted early termination of the waiting period under the HSR Act applicable to the tender offer by Canada Merger Corp., a wholly owned subsidiary of XPO Logistics (XPO), to purchase any and all of the shares of Con-way's common stock.
09:24 EDTSWFTSwift Transport price target lowered to $20 from $26 at Baird
Baird cut its price target on Swift Transport to $20 from $26 after the company pre-announced results and lowered its FY15 earnings guidance. However, the firm sees a strong likelihood that earnings grow in 2016 and thinks the stock is at a near-trough valuation, leading it to maintain an Outperform rating on Swift shares.
07:38 EDTSWFTSwift Transport price target lowered to $24 from $35 at Stephens
Stephens lowered its price target on Swift Transportation to $24 from $35 following the company's pre-announcement and guide down. The firm notes, however, that about half of the earnings guidance cut stems from legal settlements and negative developments on prior year claims, which it views as not necessarily recurring and hard to predict. Stephens keeps its Overweight rating on Swift Transportation shares.
September 25, 2015
09:15 EDTKSUKansas City Southern management to meet with JPMorgan
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07:53 EDTUNPUnion Pacific underappreciated by the market, says Credit Suisse
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06:57 EDTSWFTSwift Transport board approves repurchase of up to $100M of stock
06:57 EDTSWFTSwift Transport sees Q4 EPS 48c-54c, consensus 59c
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06:56 EDTSWFTSwift Transport sees Q3 adjusted EPS 30c-33c, consensus 44c
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06:56 EDTSWFTSwift Transport cuts FY15 adjusted EPS to $1.43-$1.52 from $1.64-$1.74
FY15 EPS consensus of $1.70. The change in the full year range is the result of the following items: the development on prior year accident and workers' compensation claims and the corresponding impact to reserves which is expected to be a 7c impact in the third quarter of 2015; the settlement of a class action lawsuit and related items which is expected to be a 2c impact in the third quarter of 2015; the settlement of a previous lawsuit that resulted in a 3c charge in the second quarter of 2015; the additional carrying expense associated with the large volume of new tractors received late in the second quarter due to delivery delays and the catch up throughout the third quarter that has resulted in a significant backlog of tractors being processed for trade or sale which is expected to have an impact of approximately 5c-6c in the second half of 2015; and a reduction in expected volumes of seasonal project business in the fourth quarter of 2015 due to customers' recent logistical changes which could have an impact of 5c-6c of Adjusted EPS.
September 21, 2015
08:33 EDTULTRUltrapetrol receives notice on early termination of PSV contracts
Ultrapetrol (ULTR) announced it has received notification from Petrobras (PBR) regarding the early termination of contracts for three of the company's non-Brazilian flag platform supply vessels. The company is exploring alternative courses of action to remedy the situation, including negotiations with Petrobras and employment in other offshore markets.
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