Canadian National Railway Company (CNI): Why Were Investors Bullish on this Freight Stock in Q1? [Yahoo! Finance]
Canadian National Railway Company (CNI)
Last canadian national railway company earnings: 4/27 04:01 pm
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US:NYSE Investor Relations:
cn.ca/en/investors
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Source: Yahoo! Finance
The Red Sea Crisis & Shipping Challenges The Red Sea accounts for 30% of global container trade via the Suez Canal. According to a report by JP Morgan, the Houthi attacks have disrupted the entire supply chain, forcing companies to reroute around Southern Africa, adding 4,000 miles to every journey. Rerouting will increase transit times by almost 30% and global container shipping capacity will decline by almost 9%. The report suggests that spot rates have soared amid the crisis. Spot rates in January 2024 from China to the US West and East Coast rose by 140% to 120% compared to November 2023. Jamie Dimon's investment bank expects trade disruptions to add 0.7 percentage points to global core goods inflation, and 0.3 percentage points to overall core inflation. On May 6, Reuters reported that Maersk, the shipping giant, predicted that the crisis would cut the industry's capacity by almost 20% between Asia and Europe in the second quarter of 2024. Large shipping companies have diver
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News
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- Canadian National Railway (NYSE: CNI) had its price target lowered by analysts at Evercore ISI from $128.00 to $119.00. They now have an "in-line" rating on the stock.MarketBeat
CNI
Earnings
- 7/23/24 - Beat
CNI
Sec Filings
- 9/17/24 - Form SUPPL
- 9/17/24 - Form 6-K
- 9/16/24 - Form FWP
- CNI's page on the SEC website