Canadian Pacific Railway (CP) Jumps: Stock Rises 5.9%

Canadian Pacific Railway LimitedCP was a big mover last session with shares rising nearly 6% on the day. The upside came on the market news that the company is engaged in early-stage merger talks with fellow railroad Norfolk Southern Corp. NSC , for a value of around $24 billion. This development led to far more shares changing hands yesterday at Canadian Pacific than in a normal session. The move reverses the recent downtrend of the company as the stock has lost over 8% in the past one-month time frame.

This transcontinental railway company has seen a mixed track record when it comes to estimate revisions of 5 increases and 4 decreases over the last 30 days. Meanwhile, the Zacks Consensus Estimate has moved lower over the same period. This implies trouble down the road. So make sure to keep an eye on this stock going forward to see if yesterday's price action can last.

Canadian Pacific Railway currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.

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NORFOLK SOUTHRN (NSC): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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