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Stock Market & Financial Investment News

News Breaks
June 11, 2014
12:08 EDTCPCanadian Pacific announces plans to purchase shares through private agreement
Canadian Pacific Railway announced that it intends to purchase for cancellation up to 456,791 of its common shares pursuant to private agreements to be entered into between CP and an arm's length third party seller. Purchases will be made in accordance with an issuer bid exemption order issued by the Ontario Securities Commission dated June 10, and pursuant to the Order, may be made in several transactions prior to March 16, 2015. The price CP will pay for the common shares purchased by way of the 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 will be counted towards CP's share purchase program announced on March 11 for up to 5,270,374 shares and will not exceed, in aggregate, one third of the maximum number of common shares CP may purchase under such program, being 1,756,791 common shares. CP was previously granted an issuer bid exemption order by the Ontario Securities Commission on March 28,permitting CP to make private agreement purchases of up to 1,300,000 of its common shares from an arm's length third-party seller. As of today, CP purchased 1,300,000 CP common shares under that order.
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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