Fears of a strike or lockout at West Coast ports have forced some shippers to move their cargo destinations to Canadian or East Coast ports, the FT reports.» Read More
Canadian National Railway Co. fell$. 39 or. 6 percent, to $65.64. Canadian Pacific Railway Ltd. fell$. 38 or. 2 percent, to $187.16. Kansas City Southern rose$. 34 or. 3 percent, to $107.74.
BOSTON, Aug 4- Billionaire investor William Ackman's Pershing Square Holdings has risen 27.2 percent this year, according to an investor in the fund, after extending its gains modestly last month when many hedge fund managers suffered losses.
CALGARY, Alberta, Aug 4- Canexus Corp, the developer of Canada's first dedicated oil train terminal, has embraced the crude-by-rail boom with little success so far. The company's Bruderheim terminal, 55 kilometers northeast of Edmonton, Alberta, is one of seven unit train terminals operating or under construction in Western Canada.
TORONTO, July 21- Canadian National Railway Co, the country's largest rail operator, reported a big spike in profit on Monday as it moved record volumes of goods and made a swift recovery from last quarter's brutal winter weather.
TORONTO, July 17- Canadian Pacific Railway Ltd reported stronger-than-expected results on Thursday, and said rising freight volumes and prices should push already record results to new highs later this year. The shares of the Calgary- based railway, which have risen some 20 percent since its last quarterly report, surged as much as 4.7 percent on the news.
TORONTO, July 17- Canadian Pacific Railway Ltd on Thursday reported second-quarter results that were slightly ahead of expectations as the rail operator worked to recover from massive backlogs and an unusually harsh winter.
NEW YORK, June 16- As politicians debate the dangers of a massive increase in oil carried by rail in North America, railroads and energy producers are considering the same for natural gas.
WINNIPEG, Manitoba, June 10- Grain handlers are lobbying the Canadian government for even stricter rules requiring railroads to allocate thousands of railcars to them each week in hopes of stopping an unprecedented crop logjam from getting worse.
TORONTO, May 1- Two years after taking control of Canadian Pacific Railway, Chief Executive Hunter Harrison said his aggressive overhaul of the former industry laggard will soon hit pay dirt, with its transformation into North America's most efficient carrier.
The "Fast Money" traders share their final trades of the day.
WINNIPEG, Manitoba, April 29- Western Canadian farmers still stuck with last year's harvest are turning to the government for credit help in record numbers, and insiders fear problems could cascade through the agricultural economy as the new planting season gets under way.
OTTAWA, April 23- Canada will require that older rail cars used for carrying crude oil be phased out by May 2017, the government said on Wednesday, moving ahead of the United States to ban the controversial cars in light of burgeoning oil-by-rail traffic and a deadly accident last year.
OTTAWA, April 23- Canada will require that the use of older rail cars for carrying crude oil be phased out within three years, even though the United States has yet to make such a rule change, according to documents seen by Reuters on Wednesday.
Canadian Pacific Railway Ltd and Canadian National Railway Co have come under enormous pressure to clear the backlog, which resulted from a record harvest last year and subsequent disruptions of service caused by a frigid winter.
Both Calgary, Alberta- based CP and Canada's largest railway, Canadian National Railway Co, have been under enormous pressure to clear the backlog, which resulted from a record harvest last year and from subsequent service impairments caused by a frigid winter.
*Quarterly earnings per share C $1.44 vs C $1.41 estimate. CP shares jumped 6 percent to C $173.83 on the Toronto Stock Exchange in early morning trading.
*First-quarter earnings per share C $1.44 vs est C $1.41. Canada's second-largest railroad said net earning rose to C $254 million, or C $1.44 per share, in the quarter ended March 31, from C $217 million, or C $1.24 per share, a year earlier. Analysts on average had expected earnings of C $1.41 per share on revenue of C $1.51 billion, according to Thomson Reuters I/B/E/S.
With the wipeout in growth stocks, many investors turned their attention to big-cap and value names, and the trend is expected to continue.
Gold in particular has fallen from more than $1,500 an ounce in early 2013 to briefly below $1,200 at the start of this year. "We're not expecting miraculous numbers," said Elvis Picardo, strategist and vice president of research at Global Securities in Vancouver.
TORONTO, April 4- Canada can move faster than the United States to stop the use of older rail tanker cars to carry crude oil, Transport Minister Lisa Raitt said on Friday, adding Ottawa is under pressure after last July's fiery derailment in Quebec that killed 47 people.