Triple Moving Average Crossover
|Bid||79.00 x 900|
|Ask||89.62 x 1000|
|Day's Range||88.58 - 89.73|
|52 Week Range||65.13 - 96.53|
|Beta (5Y Monthly)||0.62|
|PE Ratio (TTM)||15.26|
|Forward Dividend & Yield||1.68 (1.89%)|
|Ex-Dividend Date||Jun 08, 2020|
|1y Target Est||N/A|
How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of […]
The Brotherhood of Maintenance of Way Employes Division (BMWED), a U.S. rail labor union affiliated with the International Brotherhood of Teamsters, wants the freight railroads to privately mandate the testing and tracing of the COVID-19 virus among employees after the recent deaths of several members."The pandemic is not slowing nationally. Numbers are rising and the death toll is increasing. We understand that train service must continue. We remain willing — as always — to work to that goal," BMWED said. "But, we will not be sacrificial pawns to railroads who resist implementing screening and tracing procedures that would greatly help control COVID-19 spread. We are not going to continue to have our members die."The group sent letters last week to the heads of the seven Class I railroads, pressing the executives to consider implementing stricter measures that would ensure that sick workers aren't on the job. These measures include prescreening tools such as temperature checking and symptom assessments, contact tracing, quarantines of employees who were exposed to infected co-workers, and regular testing of employees.The letters come after four BMWED members have died from the coronavirus. The group didn't say where the members worked. BMWED said it sent similar letters to Amtrak and the Metra commuter railroads in June."The safety and well-being of railroad workers is a mutual interest between the Railroad and the BMWED. Should you desire the BMWED's leadership is ready to meet immediately to work collaboratively. ... The BMWED members will continue to show up for America and perform this essential service. In the same way, the railroad needs to start showing up for the workers and the public by ensuring that they take all necessary steps and protocols to protect them from this life-threatening disease," said BMWED President Freddie N. Simpson in letters to the railroads.The letter also included a 13-page white paper on suggested federal guidelines that the railroads could consider.The railroads' responsesThe railroads and the unions have conducted conference calls daily on best practices, according to the Association of American Railroads. Individual railroad companies also said they have implemented safety protocols.Kansas City Southern"Since March 2020, [Kansas City Southern (NYSE: KSU)] KCS has and continues to follow appropriate guidelines issued by the U.S. Centers for Disease Control [and Prevention, also known as CDC] and the Mexican government for the safety and well-being of essential railroad workers. Accordingly, many of the requests made in the BMWED's letter are consistent with practices already in place at KCS. We continue to engage in open dialogue with union representation," KCS told FreightWaves.Union PacificUnion Pacific Corporation (NYSE: UNP) said, "We continue to follow CDC recommendations and are taking steps to keep employees safe and healthy. Many of the things referenced in the letter have been in place since the start of the pandemic. We also continue to have an open dialog with our union representatives."BNSFBNSF Railway Company responded, "From the outset of the pandemic, we've had two main objectives: Protect the health of our employees and keep trains running. As the situation and environment around us has evolved, we have continued to evolve with it. We've grounded all of our decisions in CDC guidance and made adjustments to our policies and protocols to protect the health of our employees and the integrity of our operations."BNSF continued, "We acted quickly to implement the necessary precautions to protect health and safety including additional cleaning protocols and sufficient cleaning supplies, requiring face coverings where social distancing isn't possible and response protocols for employees testing positive that not only protect the health of the employee but also those employees who may have been close contacts. This includes quarantine periods and self-assessment before returning to work in consult with our medical team."BNSF concluded, "Frequent testing is essential to controlling the spread of COVID-19 and we have diligently worked to secure testing access for our employees in the 28 states in which BNSF operates." CSXCSX Corporation (NASDAQ: CSX) said, "CSX railroaders have continued to ensure essential goods are getting to American consumers, and the company has followed all CDC recommendations and preventative measures since the start of the pandemic. We provide masks, gloves and cleaning supplies to all employees and have significantly increased sanitation of high-touch, high-traffic areas across our network. We are closely monitoring the virus and remain in constant communication with our employees, union representatives, customers, and vendors."Norfolk SouthernNorfolk Southern Corporation (NYSE: NSC) responded, "Ensuring every Norfolk Southern employee goes home safe every night is a responsibility we always take seriously. Well before COVID-19 evolved into a global pandemic, we were responsive, flexible and transparent. We launched our Pandemic Taskforce, acted quickly based on CDC guidelines and took extensive measures to keep employees safe. We have implemented physical distancing, required the use of face coverings when physical distancing is not possible, and established rigorous cleaning protocols."NS continued, "When we learn of an employee who has been diagnosed with COVID-19, we conduct contact tracing, alert employees potentially exposed and require them to quarantine as necessary. We have a hotline for employees to notify us of any health or safety concerns so we can address them. All of these measures are communicated as part of open dialogue with our employee unions, and remain in place as we continue to monitor cases of COVID-19 to protect the health of our employees, their families and people in the communities we serve. CNCanadian National Railway Company (NYSE: CNI) said it deployed a multiphase pandemic plan in March that included measures such as increasing social distancing, requiring self-isolation for employees exhibiting symptoms, and conducting "amplified" cleaning regimens on trains and in terminals, bunkhouses and offices, among other measures."CN is a responsible global corporation with over 25,000 employees, and we are taking all necessary steps to protect our employees, the communities in which we operate and our customers, vendors and partners and their employees, in response to the unprecedented challenges associated with the coronavirus (COVID-19)," CN said.CN also said its staff medical team and occupational health department "are playing a pivotal role in our pandemic planning. They are fully aligned and take direction from the World Health Organization, as well as provincial, state and federal authorities as required. They are also a member of the Association of American Railroad Health Committee."Click here for more FreightWaves articles by Joanna Marsh.Related articles:Federal Railroad Administration extends temporary safety waiversThree known cases of coronavirus reported at two Class I railroadsFreight railroads further adjust workforce plans amid coronavirus pandemicFreight railroads monitor network for coronavirus impactsSee more from Benzinga * YRCW Won't Face Loan Maturity Payments For 4+ Years Under New Deal * Cargo-Friendly Airports Shine During COVID Crisis * Convoy Integrates With KeepTruckin To Improve Shipment Tracking(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Canadian National (CNI) moves a record 8.15MMT of Canadian grain during second-quarter 2020.
In this article we are going to estimate the intrinsic value of Aegion Corporation (NASDAQ:AEGN) by estimating the...
From capital investment plans to retirement to changes in fee schedules – here's a round-up of some freight rail news items:Railway Supply Institute Head To DepartMike O'Malley, president of the Railway Supply Institute (RSI), is leaving the group he heads at the end of the month. O'Malley, who has served as RSI's president since early 2018, will be pursuing opportunities outside of the Washington, D.C. area where RSI is based. RSI is a trade association representing 200 rail suppliers in freight and passenger rail. Members are companies within the mechanical, communications and signaling, maintenance of way and passenger rail industries. Existing RSI Senior Vice President Nicole Brewin will oversee the association as the group's board examines candidates to replace O'Malley. The board's executive committee will also provide oversight and support to Brewin and to RSI's staff."Mike's experience in both government and the rail industry has served RSI well and we have accomplished a great deal during his tenure. Under his leadership, RSI and our members have shaped critical legislative and regulatory policies affecting our industry and strengthened our voice in the nation's capital," said Jason Connell, chairman of the RSI board of directors. Connell continued, "RSI appreciates Mike's service to the organization and the industry and wishes Mike the best in his new endeavors. Thanks to the continuing support of its dedicated members, the organization remains healthy and financially stable. RSI is well-positioned to navigate the current situation and emerge a stronger association." CN To Invest C$10 Million In Nova Scotia InfrastructureCanadian National Railway CN (NYSE: CNI) expects to spend over C$10 million in infrastructure investments and maintenance in Nova Scotia this year.CN's capital improvement program for the province includes replacing rail and ties, rebuilding road crossing surfaces and conducting maintenance work on bridges, culverts, signal systems and other track infrastructure. The railway says it has spent approximately $85 million on infrastructure projects and maintenance in Nova Scotia over the last five years.CN announced its capital investment plans for Ontario, British Columbia, Alberta and Quebec last week.CN expects to replace four miles of rail track, install approximately 30,000 new railroad ties, rebuild eight road crossing surfaces and conduct maintenance work. CN operates 162 route miles in the province. The Port of Halifax is located in Nova Scotia, and CN handles all the rail-served import and export containers there. CN also has an intermodal terminal in Halifax. The port also has a major autoport that receives imported vehicles for distribution across North America.Norfolk Southern Details Changes To Demurrage And Accessorial ChargesNorfolk Southern Corp (NYSE: NSC) has made some changes to its demurrage and accessorial charges. The changes are described here and information about the tariffs can be found here. The changes to the company's demurrage tariffs pertain to rules and charges related to switching railcars from one track to another within Norfolk Southern's (NS) system and for moving equipment between NS track and the track of another railroad. The changes are effective on August 1. The railroad's changes to its accessorial charges pertain to specific rules and charges such as diversion, reconsignments, overloaded cars, use of cranes and derricks for loading and unloading, and storage. These changes are also effective on August 1.Click here for more FreightWaves articles by Joanna Marsh.Related articles:Putting the brakes on brakesStakeholders await new guidance on rail track and brake safety standardsCN to invest 0 million in Ontario assetsCN plans nearly C billion in capital projectsNorfolk Southern makes changes to demurrage and accessorial chargesSee more from Benzinga * June Rail Traffic Sees Recovery 'Accelerate' * CN Plans Nearly C Billion In Capital Projects * Class 1 Railroads To Retain Cost-Cutting Measures(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Canadian National Railway (NYSE: CNI) is investing C$985 million (US$720.1 million) in capital improvement projects in the provinces of Alberta, British Columbia and Quebec in 2020.The capital projects come as CN has laid out its long-term intentions to bolster its eastern operations while also expanding network capacity in western Canada to handle greater export volumes. CN's overall capital budget for 2020 is $2.9 billion, and executives have said that CN will use the lower-volume environment of 2020 to conduct track maintenance to ensure the network's health. The lower-volume environment enables CN "to further strengthen our railroad in terms of having the additional time available out there on the track," said Rob Reilly, CN"s chief operating officer during the company's first-quarter earnings call on April 27.Earlier this month, CN touted its expanding propane export capabilities at Prince Rupert in British Columbia. And in February, the Canadian government laid out plans to invest $15 million in rail-related infrastructure in energy-producing Alberta.Capital Projects In British ColumbiaCN expects to spend approximately $445 million this year in expansion projects and maintenance in British Columbia. The railway has invested more than $1.3 billion in the province in the last five years.Projects that CN says will expand capacity include the construction of 3.5 miles of double track between Vancouver and Edmonton; new sidings in the rail corridor between Edmonton and Prince Rupert; and continued support of multi-year infrastructure projects at the ports of Vancouver and Prince Rupert that are being done in collaboration with the Canadian government and the port authorities of Vancouver and Prince Rupert.Maintenance projects include the replacement of more than 100 miles of rail, the installation of over 209,000 new railroad ties and over 46,000 concrete ties, the rebuild of 22 road crossing surfaces and maintenance work on bridges, culverts, signal systems and other track infrastructure, CN said. CN has 2,814 route miles in the province.CN's British Columbia facilities include coal, grain and intermodal terminals at the Port of Vancouver, as well as a major rail classification yard and multiple distribution centers for forest products, metals and automotive products in the greater Vancouver area. CN also has CargoFlo bulk handling facilities in Vancouver and Ashcroft and an intermodal terminal at Prince George.Capital Projects In QuebecAbout $235 million will be for capital projects in Quebec, including projects to advance information technology and positive train control, the replacement of rail and ties, and the maintenance of track infrastructure. The railway said it has spent more than $1.8 billion in the province in the last five years.Maintenance improvements include replacing more than 20 miles of rail, installing approximately 140,000 new railroad ties, rebuilding 47 road crossing surfaces and maintenance work on bridges, culverts, signal systems, and other track infrastructure, CN said. CN has 2,041 route miles in the province.Facilities in Montreal include a major rail classification yard and repair shops and CN's headquarters. They also include an intermodal terminal, logistics park, automotive and metals distribution centers, and a CargoFlo bulk handling facility, in addition to service to the Port of Montreal.In Quebec City, CN has a large classification yard as well as access to a deep-water port and metals, automotive, and forest products distribution centers. CN has also been partnering with Hutchison Ports and the Port of Quebec to construct a new intermodal container terminal that will have a capacity of 700,000 twenty-foot equivalent units (TEUs). CN expects the container terminal to be open in spring 2024.Capital Projects In AlbertaCN is also spending approximately $305 million on capital projects in Alberta. Projects include the construction of five miles of double track between Vancouver and Edmonton near Hinton, the replacement of rail ties and maintenance work on level crossings, bridges, culverts, signal systems, and other track infrastructure. The railway has spent more than $1.4 billion in the last five years on capital projects in the province.CN's maintenance projects in Alberta include the replacement of approximately 71 miles of rail track, the installation of over 210,000 new railroad ties, and the rebuilding of 28 road crossing surfaces. CN has 2,522 route miles in Alberta.CN's facilities in Alberta support the province's agricultural and energy sectors, as well as intermodal business at Calgary and Edmonton. Calgary facilities include a logistics park, an automotive distribution facility, a forest products distribution center, and a CN CargoFlo bulk handling facility. CN's footprint in Edmonton includes automotive distribution and CargoFlo bulk handling facilities, and metals and forest products distribution centers. CN also has rail classification yards in Edmonton and Calgary, as well as railcar and locomotive repair shops at Edmonton's Walker Yard. Click here for more FreightWaves articles by Joanna Marsh.Related articles:CN benefits from British Columbia's growing propane exportsCanadian National eyes growth opportunities in intermodal, crude-by-railCanada invests in rail infrastructure in energy-producing AlbertaSee more from Benzinga * Teknowlogi Uses AI To Automate Email Quote Requests * Rising Ocean Freight Rates The Result Of Blank Sailings * Amazon Doling Out 0 Million 'Thank You' To Workers(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Moody's Investors Service, ("Moody's") affirmed the ratings of Canadian National Railway Company ("CN") including its A2 LT Issuer Rating, its A2 senior unsecured rating, its P-1 Commercial Paper rating and the A2 senior unsecured debt rating of Illinois Central Railroad Company, which is guaranteed by CN. CN is constrained by the decline in its credit metrics in more recent periods, affected by a strike in the fourth quarter of 2019, blockades on its network in the first quarter of 2020, but also due to large shareholder payments in the past two years by way of both dividends and share buybacks of approximately CAD3.2 billion/year at the same time that capital expenditures increased from CAD2.7 billion (in 2017) to CAD3.9 billion (in 2019).
Canadian National Railway Co , the country's biggest railroad, is banking on growth in consumer products and supply-chain diversification in Asia, to revive traffic on its underutilized eastern Canadian rail lines, the company's chief executive told Reuters on Friday. "The tariff war and coronavirus have intensified and accelerated these trends," CN CEO Jean-Jacques Ruest said. "CN is very focused to repurpose that network, which is in great shape and only running at 50% capacity," Ruest said.
Canadian National Railway Co <CNR.TO>, the country's biggest railroad, is banking on growth in consumer products and supply-chain diversification in Asia, to revive traffic on its underutilized eastern Canadian rail lines, the company's chief executive told Reuters on Friday. "The tariff war and coronavirus have intensified and accelerated these trends," CN CEO Jean-Jacques Ruest said. "CN is very focused to repurpose that network, which is in great shape and only running at 50% capacity," Ruest said.
A group of 27 leading executives added to calls for Canada to ease coronavirus-led air restrictions in a letter published in the country's Globe and Mail newspaper on Thursday. The move lends support to the travel industry's push to relax air curbs as most international flights to and from Canada remain canceled. The executives, including the CEO of the largest Canadian lender Royal Bank of Canada, asked Prime Minister Justin Trudeau and provincial premiers to "find a responsible way to co-exist with COVID-19 until there is a vaccine."
Canadian grain exporters are boosting sales in a slumping global economy, as demand for commodities like oil weakens and frees up railway space. Major exporters include Richardson International, Viterra and Cargill. Declining coal and crude volumes and Canadian National Railway Co's recent purchases of locomotives and hopper cars have driven up grain shipments, said Sean Finn, CN executive vice president of corporate services.
Canadian companies are scouring the globe, often at great expense, to secure personal protective equipment (PPE) for staff and customers as businesses reopen and coronavirus restrictions are eased. While larger companies, such as Canadian National Railway Co , are tapping their own global networks to located PPE, smaller companies are battling higher costs to stock up.
In this article we will take a look at whether hedge funds think Aegion Corp (NASDAQ:AEGN) is a good investment right now. We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, unconventional data sources, expert networks, and get tips from […]
Three vessels carrying Canadian propane destined for international markets departed from AltaGas' Ridley Island Propane Export Terminal on Thursday, beating a previous record by 50%, according to Canadian National Railway Company (NYSE: CNI). CN exclusively serves the facilities at the Port of Prince Rupert, which is where the AltaGas Ridley Terminal is located. The terminal has moved over 1 million metric tonnes of propane since it launched in May 2019. The increase in propane export volumes comes amid ongoing capacity expansions to grow propane export volumes out of British Columbia.Usually two vessels leave the Port of Prince Rupert monthly with propane, but this week, it was three vessels, according to CN."CN's investments in its Edmonton to Prince Rupert corridor continue to help support and enable strong and reliable supply chains," said Robert Reilly, executive vice president and chief operating officer at CN. "By investing in capacity, we are supporting our customers' ability to grow and expand to new markets."CN's increase in exports comes as more companies in British Columbia are seeking to take advantage of the global market for propane. The Canada Energy Regulator (CER) said on May 20 that British Columbia is gaining in its share of propane exports, with the province shipping 64,872 barrels per day (b/d) of propane in January, compared with Alberta's exports of 83,354 b/d.British Columbia is the second-largest exporting province of Canadian propane due in large part to two marine export terminals at its border points: the Ridley terminal, which is the first propane export terminal on Canada's west coast and has a capacity of 40,000 b/d, and Petrogas' 30,000-b/d marine terminal in Ferndale, Washington, according to CER. Natural gas production in western Canada has also increased in recent years, enabling more propane production from natural gas processing, CER said. Canada's propane exports from January to January 2020 by transport mode. Source: CERThe Ridley terminal came into service in May 2019 and is one of four propane export terminals that have been proposed for Canada's west coast in recent years, according to a July 2019 CER market report. Others are the 25,000-b/d Prince Rupert Export Terminal on Watson Island, which is being built by Pembia and has a tentative in-service date in the first quarter of 2021; a proposed 40,000-b/d terminal also on Ridley Island that would be operated by Vopak Pacific Canada; and a proposed 46,000-b/d terminal at Kitimat, which would be operated by Pacific Traverse. The latter two facilities could come online in 2022 and 2023, respectively, but are pending regulatory approvals and final investment decisions, CER said.The Canadian government has also been seeking to expand rail-related energy capacity in western Canada. In February, Transport Canada announced plans to invest C$15 million in rail-related improvements in Alberta to reduce bottlenecks on the western Canadian rail network along sites near energy production facilities.Flickr/Miroslav VolekSee more from Benzinga * Canadian Railroads Shatter Previous May Grain Records * Canadian Pacific Finalizes US Portion Of Atlantic Canada Short Line * Rail Pins Hopes On Auto Manufacturing As US Carloads Sustain Record Decline(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
In this article we will check out the progression of hedge fund sentiment towards Canadian National Railway Company (NYSE:CNI) and determine whether it is a good investment right now. We at Insider Monkey like to examine what billionaires and hedge funds think of a company before spending days of research on it. Given their 2 […]
The Zacks Analyst Blog Highlights: T-Mobile US, Citigroup, Blackstone Group, Regeneron Pharmaceuticals and Canadian National Railway
Will the new coronavirus cause a recession in US in the next 6 months? On February 27th, we put the probability at 75% and we predicted that the market will decline by at least 20% in (Recession is Imminent: We Need A Travel Ban NOW). In these volatile markets we scrutinize hedge fund filings to […]
The worst of the COVID-19 pandemic's effect on freight rail activity is yet to come, said executives during Canadian National Railway Company (NYSE: CNI) first-quarter earnings call on April 27."We still feel that the worst is not behind us," said Canadian National (CN) Chief Financial Officer Ghislain Houle. Both he and CN CEO JJ Ruest said May could be the worst month, but "at this point, it's all guessing work."Executives have been looking at various economic recovery scenarios, but it's still unknown when North America would return to a "natural economy," which is when consumers feel confident to engage in pre-pandemic activity in such a way that would boost freight volumes. As a result, CN's expectations of generating C$2.5 billion in cash flow assumes worst-case scenarios to occur during the year. April revenue ton miles are down roughly 15% so far, Houle said."We've run scenarios that are better but we wanted to offer investors the floor," Houle said. Sectors that appear to be hit hard by the pandemic are the auto sector, where volumes are down by almost 90%, and U.S. coal volumes. Energy and frac sand volumes could also "get worse" according to Ruest, although CN's crude-by-rail product is mainly a type of heavy crude that is more shielded from crude market shifts.To manage the volume downturn so far, CN has furloughed about 2,500 workers, including a 20+% reduction of train and engine employees, and it reduced train starts and stored 500 locomotives and about 14,000 railcars in storage. Train and engine employee headcount tends to be more sensitive to market demand. CN has also idled switching yards in Battle Creek, Michigan; Jackson, Mississippi; Garneau, Quebec; and Kamloops, British Columbia, and it has reduced its mechanical activities in more than 20 locations. Whether the idled switching yards will return to service and when they would reopen will depend on when and how rail volume comes back, according to Rob Reilly, CN chief operating officer. CN has been in discussion with its ocean partners and shippers to gauge how cancelled or blank sailings in the second and third quarters will affect rail volumes. The railway won't be as affected by blank sailings in the second quarter, but another factor is also the number of discharges off the vessel that also occur, according to Keith Reardon, CN senior vice president of the consumer product supply chain.View more earnings on CNI"At this point in time, we're not seeing that many blanks...for the second quarter for us. That doesn't mean that there are not that many blanks that are going to happen, but after talking to our customers, that's what we're seeing is going to be impacting us for the West Coast," Reardon said. "We do see a few East Coast blanks, but I also want to caution you it's not necessarily the number of blanks. It's how much those blanks are affecting...[the] discharges on that vessel."Amid the pandemic-induced rail downturn, CN is performing track maintenance, which the railway says will help the company with network capacity once volume rebounds, and it is continuing to invest in capital projects, such as at Vancouver and between Edmonton and Prince Rupert, because of anticipated activity for trans-Pacific trade for bulk and container volumes.Although some nearshoring could occur because of higher labor costs in China and a desire to diversify the supply chain, the nearshoring opportunities for now are around essential goods, such as medical supplies. Goods that pass through the Canadian ports, such as automotive products, electronics and garments aren't as "strategic" and security-sensitive, Reardon said. But he added that CN has service at Mobile, Alabama, and New Orleans, Louisiana, should some nearshoring opportunities occur. First-quarter performanceIn the first quarter, CN increased its train velocity by over 6% while reducing its dwell time by nearly 5%. This allowed the railway to use fewer locomotives on its network while still moving the same amount of gross ton miles, Cairns said. It also removed 700 weekly train starts, and it has stored railcars and locomotives in locations where they would be needed once demand rebounds. Canadian National ($ in Canadian dollars) 2020 Value 2019 Value Y/Y Gross Change Y/Y % Change Freight revenue (in millions) $3,424.0 $3,413.0 $11.0 0.3% Carloads (000s) 1,335 1,418 -83.00 -5.9% Revenue per carload $2,565 $2,407 $158.00 6.6% Intermodal shipments (000s) 548 624 -76.00 -12.2% Intermodal revenue per carload $1,549 $1,362 $187.0 13.7% Revenue ton miles (in millions) $58,370 $59,067 ($697.0) -1.2% Employee counts (quarterly average) 25264 26024 -760.00 -2.9% Train velocity (mph) 18.2 17.1 1.10 6.4% Dwell time (hours) 8.3 8.7 -0.40 -4.6% OR% 65.7% 69.5% -3.80% -5.5% EPS $1.42 $1.08 $0.3 31.5% Despite the rail blockades and the COVID-19 pandemic, CN reported higher net profits in the first quarter of 2020.First-quarter net income totaled C$1 billion, or C$1.42 per diluted share, a 28.6% increase from C$786 million, or C$1.08 per diluted share, in the first quarter of 2019.For more first-quarter results, go here. See more from Benzinga * Broken Rail As Possible Cause To Canadian Crude Train Derailments * Today's Pickup: C.H. Robinson makes a ,000 donation to St. Christopher Truckers Relief Fund * Canadian National, Canadian Pacific Confident Of Their Post-Pandemic Response(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Cloud Nine Education Group Ltd. (CSE:CNI) has rebounded strongly over the last week, with the share price soaring 46...
Canadian railroad operators have been getting a boost from shipping oil for producers looking for alternatives to congested pipelines. Canadian National said in January it expected crude shipments to be a growth driver this year. "Looking broadly at energy-related carloads, crude by rail was a significant growth driver, up 45% year-over-year for the quarter," Chief Executive Officer Jean-Jacques Ruest said on Monday.