In Week 12, Canadian Pacific Railway’s (CP) rail traffic fell 0.6% YoY (year-over-year) to 53,111 railcars from 53,422. All Class I railroad companies but Kansas City Southern (KSU) reported lower volumes during the week. Union Pacific’s (UNP) volumes fell the most, by 9%, while Canadian National Railway’s (CNI) rail traffic fell 2.2% YoY.
Canadian Pacific’s carload traffic fell 5% YoY to 31,501 railcars from 33,166 in Week 12. Its carload traffic excluding coal and coke fell 4.4% YoY to 25,977 railcars from 27,186, and its coal and coke traffic fell 7.6% YoY to 5,524 units from 5,980. Canadian Pacific Railway’s coal, fertilizer, sulfur, automotive, mineral, metal, forest, and consumer volumes fell, while its energy, chemicals, and plastics volumes rose.
Canadian Pacific’s intermodal volumes grew in Week 12, by 6.7% YoY to 21,610 containers and trailers from 20,256. During the week, four of seven Class I railroad companies recorded higher intermodal volumes. Among Class I railroads (IYT), Canadian Pacific’s intermodal gains were the highest, while CSX’s (CSX) intermodal traffic fell the most, by 5.4%.
During the first 12 weeks of this year, Canadian Pacific’s carload traffic fell 2.2% YoY to 352,764 railcars, while its intermodal traffic fell 2% YoY to 222,505 units. The company’s combined rail traffic fell 2.1% YoY to 575,269 railcars, containers, and trailers.
There has been a lot of noise about ray tracing since NVIDIA (NVDA) launched its next-generation Turing-based GPU (graphics processing unit).
Broadcom (AVGO) stock fell ~8.5% after markets closed yesterday following the semiconductor giant's fiscal 2019 second-quarter earnings release. It missed analysts' revenue estimate and cut its fiscal 2019 revenue guidance by $2 billion to $22.5 billion due to sluggishness in its semiconductor solutions business.
The SPDR Gold Shares ETF (GLD), which tracks physical gold prices, has underperformed the broader markets year-to-date, rising just 4.4% compared to the S&P 500’s (SPY) gain of 15.9% as of June 14. The sentiment for gold, however, has been turning around.
Safe havens such as Treasuries and gold were back in favor on June 14 as stocks fell due to rising tensions in the Middle East, concerns over growth, and the looming threat of the US-China trade war. The tech-heavy Nasdaq Composite Index fell 0.67% in the first hour of trading.
Lululemon (LULU) stock rose 2.1% on June 13 in reaction to better-than-expected first-quarter results and an upgraded outlook for fiscal 2019 overall. The company's first-quarter adjusted EPS grew 34.5% to $0.74 on revenue growth of 20.4% to $782.32 million. Analysts had expected EPS of $0.70 and revenue of $755.31 million. Here's why the outlook got an upgrade.
As of 4:40 AM Eastern Time today, US crude oil active futures were at $51.83, ~4% below their closing level in the previous week. If US crude oil prices stay at those levels today, they'll mark their third week of decline in five weeks.
Kimberly-Clark (KMB) stock has risen 20.5% this year, boosted by the company’s better-than-expected sales and earnings during its last reported quarter. However, its stock could stop climbing. Here's why.