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CP earns key analyst upgrade
In his proxy fight for control of Canadian Pacific, Pershing Square Capital Management hedge fund chief Bill Ackerman contends that the railroad's management has failed to seize opportunities to improve its performance.
GWI traffic declines in March, 1Q
Greenwich, Conn.-based Genesee & Wyoming, Inc. said Friday its March 2012 traffic volume fell 13.6% compared with the same month a year ago. As well, GWI's first-quarter traffic volume declined,…
Wabtec increases 2012 earnings guidance
Wabtec Corporation said April 12 that it expects first-quarter 2012 earnings per diluted share to be about $1.20, and has increased its 2012 full-year EPS guidance to about $4.80, based…
RailAmerica completes acquisition
Jacksonville, Fla.-based RailAmerica, Inc. announced that it has completed the acquisition of a 20% interest in the Wellsboro & Corning Railroad and Industrial Waste Group from Myles Group for approximately…
Greenbrier Cos.: “Strong” fiscal 2Q results
The Greenbrier Cos. Monday reported net earnings of $17.7 million, or 57 cents per diluted share, in its fiscal second quarter ending Feb. 29, 2012, compared with a net loss…
Gaining strength, KCS initiates cash dividend
In a sign of growing financial strength, Kansas City Southern's board of directors has decided to initiate a quarterly cash dividend for holders of its common stock.
Rio de Janeiro EMUs go into service
Electric multiple-unit (EMU) trains manufactured by China's CNR Changchun Railway Vehicles Co., Ltd. went into operation in Rio de Janeiro, Brazil, on March 20. An inaugural ceremony was held on that…
Standard & Poor's upgrades KCS credit rating
Standard & Poor's on Tuesday upgraded Kansas City Southern's credit rating to B+ with a positive outlook, one level below an investment grade rating, which would further cut borrowing costs. The upgrade…
For sale: Ontario Northland Railroad
Ontario's provincial government intends to end fiscal support of Ontario Northland Transportation Commission, which oversees the Ontario Northland Railroad, which receives C$103 million a year in provincial fiscal support.
FreightCar America sets commercial restructuring
FreightCar America, Inc. on Monday said it has named three individuals to manage its newly restructured commercial organization "to more directly present the full range of FreightCar America and FreightCar…
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