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Stock Market & Financial Investment News

News Breaks
December 4, 2012
17:02 EDTCPCanadian Pacific outlines plans for efficiency increases, business growth
Canadian Pacific CEO Hunter Harrison outlined various plans CP will execute to continue to improve service reliability, increase the railway's efficiency, and grow the business. Key highlights include: reduce roughly 4,500 employee and/or contractor positions by 2016 - through job reductions, natural attrition and fewer contractors. We have already made progress on this front and expect 1,700 positions to be eliminated by year end; new longer sidings program will improve asset utilization and increase train length and velocity - The plan will allow CP to move the same or increased volumes with fewer trains, and is expected to save over 14,500, or 4%, crew starts; explore options to maximize full value of existing and anticipated surplus real estate holdings; relocate CP's current corporate headquarters in downtown Calgary to new office space at CP-owned Ogden Yard by 2014; review options for the Delaware & Hudson in the U.S. Northeast, while maintaining options for continued growth in the energy business; announced earlier, CP is seeking expressions of interest on the 660-mile portion of the former Dakota, Minnesota & Eastern, west of Tracy, Minnesota.
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).
June 16, 2015
18:14 EDTCPCanadian Pacific plans to purchase up to 853K shares through going private deals
Canadian Pacific announced that it intends to purchase for cancellation up to 853,000 of its common shares pursuant to private agreements to be entered into between CP and three arm's-length third-party sellers. Purchases will be made in accordance with three issuer bid exemption orders issued by the Ontario Securities Commission each dated June 16, and pursuant to the Orders, may be made in several transactions prior to March 17, 2016. The price CP will pay for its common shares purchased by way of private agreements will be at a discount to the prevailing market price of CP common shares on the Toronto Stock Exchange at the time of purchase. Purchases made by CP will be counted towards CP's normal course issuer bid announced on March 16, 2015 for up to 9.14M CP common shares and will not exceed, in aggregate, one third of the maximum number of common shares CP may purchase under the Bid, being 3.05M common shares.
07:41 EDTCPRail sector risk/reward attractive, but patience required, says UBS
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