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CN Rail lowered its 2019 earnings outlook after the eight-day strike by 3,200 Teamsters conductors and yard crews. The company now expects adjusted EPS growth in the low to mid single digits, with the strike costing about 15 cents per share.
The earnings downgrade is a corporate matter with little direct effect on grain prices, though it signals the strike's effect on Canadian rail capacity.
ttnews.comDan RonanDec 3, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 823 past logistics events, Wheat (SRW) moved a median -0.2% over 5 sessions (46% higher; middle half -1.5% to +1.2%), and -0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
