Jason Seidl News
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Canadian National Railway Co. earnings declined less than analysts estimated in the first quarter as cargo growth blunted the impact of higher operating costs.
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Ground-transport companies are showing fresh interest in mergers amid the convergence of new U.S. regulations, tight credit and trucking stocks at some of the cheapest valuations since 2009.
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William Ackman had to wait only six weeks after winning a proxy fight at Canadian Pacific Railway Ltd. for his choice as chief executive officer to get the job. Achieving his profitability targets for the least efficient of North America’s major railroads may take several years.
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Norfolk Southern Corp., the railroad that cut its third-quarter forecast amid a decline in coal shipments, said the slump in those deliveries will persist through 2013’s first half.
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Canadian Pacific Railway Ltd. is planning track upgrades and expanding its board as activist investor William Ackman urges changes in management and operations after becoming the railroad’s largest shareholder.
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William Ackman’s plan to wage a proxy fight to install a new chief executive officer at Canadian Pacific Railway Ltd. pivots on the legacy of the CEO who once led the carrier’s larger rival.
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FedEx Corp. may try to jump into the bidding for TNT Express NV after the board of Europe’s second- largest package-delivery company rejected a $6.43 billion offer from United Parcel Service Inc., investors and analysts said.
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William Ackman’s Pershing Square Capital Management LP, the largest shareholder in Canadian Pacific Railway Ltd., urged the carrier to hire the former chief executive officer of rival Canadian National Railway Co., a person familiar with the matter said.
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FedEx Corp. rose to the highest since 2008 in New York trading as investors focused on strength in shipping demand rather than a reduced earnings forecast the company attributed to winter storms and rising fuel prices.
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RailAmerica Inc., the short-line railroad operator controlled by Fortress Investment Group LLC, rose the most in almost four months after announcing two acquisitions.
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