Industrial stocks were mixed in afternoon trading, and the
S&P/TSX Industrials index was up 1.38%.
Canadian National Railway (CNR.TO): +2.4%
SNC-Lavalin (SNC.TO): -0.3%
Bombardier (BBD-B.TO): -0.5%
Canadian Pacific Railway (CP.TO): +2.1%
Dragonwave (DWI.TO): -3.6%
In corporate news, SNC-Lavalin Tuesday reported that the Greater
Toronto Airport Authority (
) has renewed its contract with the engineering and construction
company for the operation and maintenance of GTAA's co-generation
and central utilities plant for another five years, with the
possibility of one two-year extension.
SNC-Lavalin designed and built the facility in 2005 and has been
the power plant's operator since then.
Meanwhile, CN Rail Monday reported second quarter net income of
C$847 million, or C$1.03 per diluted share, compared with net
income of C$717 million, or C$0.84 per diluted share, for the
year-earlier quarter. This beat forecasts for EPS of near C$1. CN's
key operating ratio for Q2-2014 improved by 1.3 points to 59.6%
from 60.9% for the year-earlier quarter.
Operating income for the second-quarter of 2014 increased 21% to
C$1,258 million. Second-quarter 2014 revenues increased 17% to
C$3,116 million, revenue ton-miles grew by 14%, and carloadings
Free cash flow for the first half of 2014 was C$1,270 million,
compared with C$788 million.
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