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Stock Market & Financial Investment News

News Breaks
February 16, 2014
16:06 EDTARII, CP, GBX, TRNCanadian Pacific places surcharge on older oil tank cars, Reuters says
Seeking to deter shippers of crude oil from using tank car models that have been involved in a series of crashes, Canadian Pacific Railway (CP) is placing a surcharge on customers who transport crude in older tank cars, says Reuters. Companies that manufacture rail tank cars include, Trinity Industries (TRN), American Railcar Industries (ARII), and The Greenbrier Companies (GBX). Reference Link
News For CP;TRN;GBX;ARII From The Last 14 Days
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February 24, 2015
10:08 EDTTRNOptions with decreasing implied volatility
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February 23, 2015
16:36 EDTCPCanadian Pacific announces new 9.14M share repurchase program
Canadian Pacific announced that it intends to renew its normal course issuer bid, NCIB, commencing March 17, subject to the approval of the Toronto Stock Exchange. CP's board of directors has authorized the repurchase of up to 9.14M of its common shares, for cancellation, representing approximately 6% of CP's "public float" of common shares as at February 20. "This new share repurchase program demonstrates CP's continued confidence in the long-term prospects of the company and underscores our commitment to enhancing total shareholder return," said CP CEO E. Hunter Harrison. "Our strong balance sheet and cash flow position enables us to return cash to shareholders while continuing to pursue our business strategy and invest in the franchise." CP is permitted to purchase up to 12,650,862 common shares during the 12 month period ending March 16, under its current program. CP has substantially completed the purchase of such shares, with 12,192,437M shares purchased at a weighted average price of $202.62 as of February 20. CP expects it will complete purchases under its current NCIB prior to the expiry of the program on March 16th.
09:59 EDTCPOn The Fly: Analyst Initiation Summary
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06:12 EDTCPCanadian Pacific initiated with an Overweight at JPMorgan
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February 22, 2015
13:45 EDTCPCanada introduces legislation to enhance crude-by-rail safety, accountability
The Honourable Lisa Raitt, Minister of Transport, introduced legislation in the House of Commons that will enhance railway safety and make the rail industry and crude oil shippers more accountable to Canadians. The new Safe and Accountable Rail Act proposes amendments to the Canada Transportation Act and Railway Safety Act. Changes include a new liability and compensation regime for federally regulated railways, including minimum insurance requirements; a compensation fund financed by levies on crude oil shippers; increased information-sharing provisions; and stronger oversight powers for the Minister and Transport Canada inspectors. The new liability and compensation regime will be consistent with those the Government has introduced for other modes of transport, such as marine tankers and oil pipelines. It is based on the “polluter pays” principle and makes railways and shippers responsible for the cost of accidents, protecting taxpayers and communities by ensuring that adequate resources are available for compensation if an accident were to occur. Proposed amendments to the Railway Safety Act will broaden the powers of the Minister and inspectors to order railway companies and others to take specified measures or stop any activity deemed necessary for safe railway operations. The proposed amendments will also create new regulation- making powers requiring railway companies to share information with municipalities. These changes are part of the Government’s commitment to strengthen oversight and increase collaboration between communities and the rail industry, addressing issues raised in the Transportation Safety Board’s final report on the Lac-Mégantic derailment as well as concerns of the Federation of Canadian Municipalities. Publicly traded companies in the space include CSX (CSX), Canadian National (CNI), Canadian Pacific (CP), Genesee & Wyoming (GWR), Kansas City Southern (KSU), Norfolk Southern (NSC) and Union Pacific (UNP). Reference Link
February 19, 2015
11:20 EDTTRNTrinity Industries says continues to benefit from railcar demand
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11:11 EDTTRNTrinity Industries 'feels comfortable' that guard rail product is in compliance
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February 18, 2015
18:55 EDTTRNOn The Fly: After Hours Movers
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16:26 EDTARIIAmerican Railcar reports Q4 EPS $1.06, consensus $1.11
Reports Q4 revenue $150.5M, consensus $171.51M. Says decrease in revenue from prior year primarily driven by decreased revenues in the manufacturing and railcar services segments, partially offset by higher railcar leasing revenues. ARI's backlog as of December 31, 2014 was approximately 11,732 railcars, with an estimated market value of $1.2B. This backlog includes approximately 2,844 railcars for lease with an estimated market value of $334.1M.
16:18 EDTTRNTrinity Industries sees Q1 EPS to be below last year's level
Trinity Industries said: "As a reminder, first quarter 2014 results included 72c per common diluted share of earnings related to sales of new and existing leased railcars to Element. As a result, we do expect first quarter 2015 earnings per common diluted share to be below last year's level."
16:17 EDTTRNTrinity Industries sees FY15 EPS $4.00-$4.40, consensus $4.28
The company expects the level of quarterly earnings per share in 2015 to be relatively consistent throughout the year.
16:16 EDTTRNTrinity Industries reports Q4 EPS 86c, consensus 83c
Reports Q4 revenue $1.66B, consensus $1.62B.
15:35 EDTTRNNotable companies reporting after market close
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February 17, 2015
18:02 EDTTRN, GBX, ARIIDerailed train that exploded in West Virginia had modern tanker cars, WSJ says
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February 16, 2015
15:22 EDTCPCanadian Pacific enters binding arbitration with Teamsters Canada
Canadian Pacific said it and the Teamsters Canada Rail Conference agreed to enter into binding arbitration, putting an end to the work stoppage by CP's locomotive engineers and conductors. E. Hunter Harrison, CP's CEO said, "While we would have preferred a negotiated settlement, this is the right thing to do at this time." An arbitrator will be appointed by the federal government. No further details are being released at this time. On February 14, CP announced a tentative four-year agreement with its Unifor employees. Details of the tentative agreement are being withheld pending ratification by the Unifor membership.

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