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November 9, 2012
10:48 EDTCPCanadian Pacific and United Steel Workers ratify five year agreement
Canadian Pacific and the United Steel Workers, Local 1976, representing approximately 800 clerical and intermodal workers, today announced that a five-year contract has been ratified with 87% of the membership voting in favour of the contract terms. The new collective agreement begins in January 2013 and allows for wage increases of 3% in each of the next five years. It also reflects changes that help ensure the CP pension plan is sustainable for employees, current retirees, and CP. "The members voted overwhelmingly in favour of the contract, especially given it provides good wage and benefit improvements," said Steven Hadden, President of USW local 1976. The current contract was due to expire December 31.
News For CP From The Last 14 Days
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June 30, 2015
12:08 EDTCPCanadian Pacific to buy 308K shares from armís length third party for C$55.8M
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08:09 EDTCPRail estimates need to come down further, says Citi
Citi analyst Christian Wetherbee noted that consensus estimates in the rail sector for Q2 EPS have fallen an average of 8% since the firm moved below consensus last month, but believes the numbers have to come down further. Wetherbee cut his Q2 estimates by another 5%, lowered Q3 by 4% and cut his forecast for 2016 EPS by 3% and lowered price targets on stocks in the space by 6% on average. Wetherbee added that he believes Union Pacific (UNP) and Norfolk Southern (NSC) have the highest the pre-announcement risk in the group and lowered his targets on those stocks, as well as for Canadian National (CNI), Canadian Pacific (CP), CSX (CSC) and Kansas City Southern (KSU).

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