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☆ Air Canada reaches last-minute deal with pilots union, averting strike
▼ + stars: | 2024-09-15 | by ( ) edition.cnn.com time to read: +2 min

CNN —Air Canada said early on Sunday it had reached a tentative agreement with its pilots union over a new four-year collective agreement, in a last-minute deal that will avert a near-term strike or lockout. Air Canada and Air Canada Rouge, which operate nearly 670 flights per day carrying about 110,000 daily passengers as well as freight, will now continue flying as normal, the airline said. Air Canada said in a statement the terms of its new agreement with the Air Line Pilots Association (ALPA) representing more than 5,200 pilots will remain confidential, pending a ratification vote by its members expected to be completed over the next month. “After several consecutive weeks of intense round-the-clock negotiations, progress was made on several key issues including compensation, retirement, and work rules,” said First Officer Charlene Hudy, chair of the Air Canada ALPA master executive council. As a result, some United pilots now earn 92% more than their counterparts at Air Canada, the pilots’ association’s data shows.

Persons: ALPA, ”, Charlene Hudy, Steve MacKinnon, Justin Trudeau Organizations: CNN — Air, Air Canada, Air Canada Rouge, Air Line Pilots Association, “, United Airlines, Labour, Canadian, Canadian Pacific Kansas City, Canadian National Railway Air Canada, Pilots, U.S, United Locations: CNN — Air Canada, Canada’s, U.S, United, Canadian Pacific

☆ Canada moves to end rail shutdown quickly; CN workers to return to work Friday
▼ + stars: | 2024-08-23 | by ( ) www.cnbc.com time to read: +5 min

A striking Teamsters union worker pickets outside Canadian National Railway's (CN) headquarters after being locked out by the company in Montreal, Quebec, Canada August 22, 2024. REUTERS/Evan BuhlerWorkers at Canadian National Railway will begin returning to work on Friday, the Teamsters union said, hours after the Canadian government moved to end an unprecedented rail stoppage. In a new statement during the early hours on Friday, the Teamsters union posted on X that it had taken down picket lines at CN. The rail companies previously said they were forced into the lockouts to avoid strikes at short notice. Paul Boucher, head of the Teamsters rail union, had accused CN and CPKC of being "willing to compromise rail safety and tear families apart to earn an extra buck".

Persons: Evan Buhler, CPKC, Steven MacKinnon, MacKinnon, Jonathan Abecassis, Justin Trudeau, Trudeau, Paul Boucher, Jagmeet Singh Organizations: REUTERS, Evan Buhler Workers, Canadian National Railway, Teamsters, Canadian Pacific, Canadian Industrial Relations, Canadian Pacific Kansas City, Canadian, Labour, CN, Canadian Broadcasting Corp, Liberal, Reliant, Canadian Manufacturers, New Democratic Party, Ottawa Locations: Montreal, Quebec, Canada, Canadian Pacific Kansas City, United States, Toronto, Vancouver

☆ These are the 10 best-performing stocks of all time
▼ + stars: | 2024-07-27 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

New research identifies the 10 best-performing US stocks since 1926. Of 29,000 US stocks traded since 1926, most had negative returns, but top performers showed consistent gains. Of course, identifying the 10 best-performing stocks for the next 100 years is nearly impossible, as the paper's author points out. "The majority (51.6%) of these stocks had negative cumulative returns," finance professor Hendrik Bessembinder of Arizona State University wrote. Bessembinder also observed that the 10 best-performing stocks delivered consistently modest annualized gains, reinforcing the slow and steady mantra championed by long-term investors.

Persons: Hendrik Bessembinder, —, Bessembinder, Paul, Wilfredo Lee, ROSLAN RAHMAN Organizations: Service, Arizona State University, Pepsico, Cadillac, AP, IBM, Boeing, Getty, Dynamics, U.S, Army, Kansas City Southern, Anadolu Agency, Canadian Locations: Doral, Fla, Kansas

☆ Gildan's board abruptly resigns ahead of annual meeting, handing control to activist
▼ + stars: | 2024-05-23 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

The activist firm later claimed Gildan's board was showing a "complete disregard for sound corporate governance." The last time an entire board resigned during an activist battle was in 2012, when Canadian Pacific's board yielded to Bill Ackman hours before the railroad's annual meeting. "We are deeply grateful for the outpouring of support that Browning West's slate and plan have received from our fellow shareholders, Gildan employees, and leading proxy advisory firms," Browning West's Usman Nabi and Peter Lee said in a statement. Browning West, based in Los Angeles, accused Gildan's board of leaking an allegedly non-existent sale process to the media and hiring private investigators to look into one of the firm's nominees. Other major shareholders, including Anson Funds and Janus Henderson, backed Browning West's push.

Persons: Gildan Activewear, Browning West's, Glenn Chamandy, Browning, Vince Tyra, Bill Ackman, Browning West's Usman Nabi, Peter Lee, Gildan's, Gildan, Chamandy, Tyra, Michael Kneeland, Janus Henderson, Glass Lewis, Ancora Organizations: Houchens Industries, Amazon, Target, United Rentals, Anson Funds, Norfolk Southern Locations: Montreal, Gildan, Los Angeles

☆ What the proxy fight at Norfolk Southern means for railroad safety
▼ + stars: | 2024-05-08 | by ( Chris Isidore | ) edition.cnn.com time to read: +10 min

The fight has split the railroad’s unions, who disagree which management team – the current Norfolk Southern leadership or one proposed by activist investor Ancora Holdings – would be best for safety and the railroad’s employees. Norfolk Southern CEO Alan Shaw, third from left, listens to testimony during a hearing held by the Senate Commerce, Science, and Transportation Committee on March 22, 2023 in Washington, DC. The committee heard testimony on "Improving Rail Safety in response to the East Palestine Derailment." BLET said that Orr’s appointment shows that Norfolk Southern is committed to additional use of PSR, no matter which side wins the the proxy fight. On February 3rd, a Norfolk Southern Railways train carrying toxic chemicals derailed causing an environmental disaster.

Persons: Alan Shaw, Amit Bose, Win McNamee, Bose, ”, “, Jeremy Ferguson, Shaw, “ Shaw, Jerry Sturdivant, John Orr, BLET, Michael Swensen, Jim Barber, Glass Lewis, Ancora Organizations: New, New York CNN, Norfolk, Norfolk Southern, Ancora Holdings, PSR, Federal Railroad Administration, Senate Commerce, Science, Transportation, Shaw, SMART, of Locomotive Engineers, Trainmen, NS, Canadian Pacific, Canadian Pacific Kansas City, Way Employees, Norfolk Southern Railways, Teamsters, UPS, CSX, Union Pacific Locations: New York, Norfolk Southern, Atlanta, East Palestine , Ohio, Norfolk, East Palestine, Washington ,, Canadian Pacific Kansas, Palestine, ”, NS

☆ Canadian Pacific had some of the best intermodal numbers out there, says Jim Cramer
▼ + stars: | 2024-04-29 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Canadian Pacific had some of the best intermodal numbers out there, says Jim Cramer'Mad Money' host Jim Cramer looks at recent earnings out of the transportation and freight space.

Persons: Jim Cramer Organizations: Canadian

☆ A trucking and rail strategy that boomed during pandemic shocks is heating up again
▼ + stars: | 2024-03-25 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +10 min

The shift in the volume of freight being moved from the East Coast to the West Coast was first highlighted in February in the ITS Port Rail Ramp Freight Index. He said the disruptions from the Suez Canal and Panama Canal have contributed to an almost 20% increase into the West Coast ports. "For our ports, transloading containers is always going to happen and we have the capacity to do more." The West Coast container volume rebound will also have a ceiling. "We probably don't get to the historical 10-year levels of West Coast market share versus East Coast share," Chan said.

Persons: Michael Aldwell, Kuehne + Nagel, Chris Sikora, CH Robinson, Sikora, Tim Robertson, transloading, Paul Brashier, We're, Brashier, Bryan Kempisty, Matt Schrap, Bruce Chan, Chan, CH, Bascome Majors, J.B, Hunt, Schneider, JB Hunt, Jason Seidl, Knight, Swift, Seidl, Larry Organizations: Getty, U.S, Logistics, CNBC, Kuehne, Transportation Intelligence, . Logistics, DHL Global, ITS, Rail, ITS Logistics, Department of Transportation's, PortX Logistics, Harbor Trucking, J.B, Susquehanna International Group, Hub Group, Schneider, Union Pacific, Cowen Group, Universal Logistics Holdings, East, International Longshoremen's Association, Surface Transportation, Canadian Pacific, Kansas City Southern, Uber, Uber Technologies Locations: West Coast, East Coast, Panama, East, Red, Gulf, transload, transloading, West, Suez, Hunt, CH Robinson, Sea, Mexico, Kansas, Mobile , Alabama, Coatzacoalcos, Veracruz, Gulf of Mexico

☆ The global trade system has already started planning for potential Trump win, new China tariffs
▼ + stars: | 2024-03-11 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +9 min

The Trump administration used delegated authorities under three trade laws to unilaterally levy tariffs without Congressional approval. The Trump administration tariffs kickstarted a shift in supply chain strategy which, according to Frank, became more well-developed by customers during Covid, when they contemplated moving factories and production out of China. He expects any increase in tariffs during a second Trump presidency to lead to a greater shift in trade from China to Mexico to avoid the tariffs. "If you charge tariffs to China, they're going to build ... their car plants here and they're going to employ our people," Trump said. S&P Global research shows that China's share of the imports of products covered by tariffs imposed by the Trump administration has dropped.

Persons: Donald Trump, Trump, Niki Frank, Frank, Beth Whited, they'd, Paul Brashier, Chris Rogers, Biden, Rogers, Jon Gold, John Taylor IV, Taylor, Peter Boockvar, Critics, it's, that's Organizations: United, Canada Trade, White, CNBC, Global, Trump, China, Biden, OF DHL, Union, Canadian Pacific, Canadian Pacific Kansas City, Union Pacific, ITS Logistics, P Global, Vietnam, National Retail Federation, Berlin Packaging, Trade, Bleakley Financial, ASEAN Locations: United States, Mexico, Canada, Washington , DC, U.S, OF DHL Asia, Long Beach , California, China, Union Pacific, Canadian Pacific Kansas, East, West, Vietnam, Malaysia, South Korea, CNBC Mexico, Europe, Thailand, Indonesia

☆ Activist Ancora may turn to a reliable tactic to enhance value at Norfolk Southern
▼ + stars: | 2024-02-10 | by ( Kenneth Squire | ) www.cnbc.com time to read: +5 min

When you see that in a railroad company, there is one key metric to look at, which drives railroad profitability and shareholder return: It's the operating ratio. The operating ratio is the company's operating expenses as a percentage of revenue. NSC's operating ratio is almost 69% and the right management team with the right strategy should easily be able to get the operating ratio down close to 60%. There is no need to reinvent the wheel here; the roadmap has already been drawn at Canadian Pacific and CSX. Inside the activist world, and among investors who were shareholders of Canadian Pacific and CSX, this is as sure of an activist strategy as there is.

Persons: Ancora, James Chadwick, Mantle, Hunter Harrison, Harrison, John Kasich, Sameh Fahmy, Jim Chadwick, Ken Squire Organizations: Norfolk Southern, Railroads, TCI, CSX, Pershing, Canadian Pacific, Canadian National, CP, PSR, Kansas City Southern, 13D Locations: United States, Ancora, Ohio

Before last year, paid sick leave was generally not offered to railroad workers. That's instead of joining all the other major freight railroads in negotiating jointly with rail unions on an agreement over pay and benefits. The rail industry reached the brink of a strike in the fall of 2022 before Congress and President Joe Biden intervened to force rail workers to accept a contract. Union Pacific, BNSF and Norfolk Southern now have paid sick time agreements in place with all their unions. Canadian National also trails behind the big U.S. railroads, but still offers sick time to about 46% of its U.S. workers.

Persons: —, Ed Dowell, CPKC “, ” CPKC, That's, Patrick Waldron, ” Waldron, “, CPKC, Joe Biden, wouldn't Organizations: Rail, CPKC's, American Train, Association, Kansas City Southern, Canadian Pacific, CSX, Union Pacific, Norfolk, Canadian Locations: OMAHA, Neb, Kansas City , Missouri, CPKC's U.S, Minnesota, U.S, Calgary, United States, Kansas City, Kansas, Canadian Pacific, North America, BNSF, Norfolk Southern

☆ Cramer names railroad stocks to watch as Red Sea troubles shake up freight routes
▼ + stars: | 2024-01-31 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Wednesday suggested railroad stocks may be starting to climb. "Boy is that terrific for the West Coast operators, and there you're thinking about Union Pacific and Canadian Pacific Kansas City." Cramer reviewed earnings reports from Union Pacific , Canadian Pacific Kansas City , CSX and Norfolk Southern , saying all except the latter have potential. Canadian Pacific Kansas City saw the largest volume growth of the bunch. If investors feel confident about the economy, they have Cramer's "blessing to stick with Union Pacific, Canadian Pacific, or CSX — in that order, by the way — and forget about Norfolk Southern for the moment."

Persons: CNBC's Jim Cramer, Cramer, we've, — you've Organizations: West Coast, Union Pacific, Canadian Pacific, Canadian Pacific Kansas City, Norfolk, Pacific's, Canadian, CSX, Norfolk Southern Locations: Yemen, Red, West Coast, Suez, East Coast, Canadian Pacific Kansas, Canadian Pacific Kansas City, CSX, Canadian Pacific, Ohio

☆ 10 of our stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-01-27 | by ( Zev Fima | ) www.cnbc.com time to read: +16 min

All three major averages posted gains for the third consecutive week, lifted by solid quarterly earnings and positive economic data. Earnings season ramps up next week, with five of the Super Six mega-cap stocks delivering results. Employment numbers are the most important economic data, with Friday's January nonfarm payrolls report carrying the most weight. The January ISM Manufacturing report on Thursday and December's factory orders report Friday are expected to show the sector still in contraction mode. But earnings and commentary this week from peer Sartorious made us encouraged about a return to growth in 2024.

Persons: nonfarm, December's, Sartorious, We've, Stanley Black, Decker, We're, We'd, Royal Philips, Crane, Woodward, ServisFirst, Cadence Bancorporation, CADE, Johnson, Phillips, Avery Dennison, Columbus McKinnon, Robinson, SIRI, Cardinal Health, Parker, DOV, Pitney Bowes, Ferrari N.V, CSW, COLM, W.W, Grainger, Dwight Co, Jim Cramer's, Jim Cramer, Jim, Tim Cook, Justin Sullivan Organizations: Gross, Procter, Gamble, Gillette, Super, Consumer, JPM Healthcare, Amazon, Microsoft, Honeywell, Aerospace, Solutions, Apple Watch, Masimo, Vision Pro, Franklin Resources, Resource Partners, Bank of Marin Bancorp, Bank7 Corp, Pacific Premier Bancorp Inc, Provident Financial Holdings, Dynex, Cliffs Inc, Nucor Corp, Whirlpool Corp, F5 Networks, Capital Southwest Corp, Harbors Investment Corp, Crane Co, Payne, Equity, Heartland Financial, Cadence, FinWise Bancorp, Five Star Bancorp, PotlatchDeltic Corporation, Sanmina Corporation, Pfizer, General Motors Corp, United Parcel Service, JetBlue Airways Corporation, Smith Corp, Marathon Petroleum Corp, HCA Healthcare, Oshkosh Corporation, SYSCO Corp, Danaher Corp, Johnson Controls, M.D.C . Holdings, Commvault Systems Inc, Hope Bancorp, Hubbell Incorporated, Malibu Boats, Polaris Industries, Inc, Camden National Corp, Cambridge Bancorp, Microsoft Corp, Starbucks Corp, Devices, Electronic Arts Inc, Juniper Networks, Stryker Corp, Lending, Canadian, Canadian Pacific Kansas City Limited, Mondelez, Chubb Corporation, Modine Manufacturing, Partners, Management, Hawaiian Holdings, Manhattan Associates, Unum Group, UNM, Axos, Enova, Boston Properties, Boeing Co, Novo Nordisk, Mastercard Inc, Roper Technologies, Boston Scientific Corporation, MarketAxess Holdings, Fisher, Aptiv PLC, Hess Corp, Nasdaq, United Microelectronics Corp, Rockwell Automation, Teva Pharmaceutical Industries, Ltd, Avery, Avery Dennison Corp, Extreme Networks, Otis Worldwide Corporation, OTIS, Columbus, Columbus McKinnon Corp, Central Pacific Financial Corp, Brinker International, Fortive Corporation, Qualcomm, Technology, Metlife, Hanover Insurance, Barn Holdings, CONMED Corporation, DLH Holdings Corp, Meritage Homes Corporation, Honeywell International, Eaton Corp, Altria, Royal Caribbean Cruises Ltd, Merck, Co, Enterprise Products Partners, Dorian LPG, SiriusXM Holdings, Cardinal, Hannifin Corporation, Allegheny Technologies Incorporated, Tractor Supply Company, Trane Technologies, Dover Corp, Huntington Ingalls Industries, Brunswick Corporation, Dickinson, Canada Goose Holdings, Kirby Corp, WEC Energy Group, WestRock Company, Allegro MicroSystems, Ball Corporation, Broadridge Financial, BrightSphere Investment Group, CMS Energy Corp, Lancaster Colony Corp, Rogers Communications Inc, Sanofi, Apple, Atlassian Corporation, United States Steel Corp, Corp, Adtalem Global, Homes, DXC Technology Company, Eastman Chemical Company, Gen, Post Holdings, America, Columbia Sportswear Company, Exxon Mobil Corp, Chevron Corporation, Myers Squibb Co, CIGNA Corp, Regeneron Pharmaceuticals, Charter Communications, AON, Cboe, Dwight, Banco Santander, Jim Cramer's Charitable, CNBC, Apple Vision, Getty Locations: China, East, United States, Europe, Cleveland, Alexandria, California, Corning, Canadian Pacific, Teradyne, TER, Novo, Hanover, PBI, Skechers U.S.A, Bristol, Chile

☆ Jim Cramer says troubles in the Red Sea will hinder the Fed's fight against inflation
▼ + stars: | 2024-01-18 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Thursday warned that soaring shipping costs due to troubles in the Red Sea won't help the U.S. tamp down inflation, telling investors they shouldn't bank on a lot of rate cuts from the Federal Reserve. "If the last few years have taught us anything, it's that supply disruptions are the bane of the Fed's fight against inflation," he said. In recent weeks, Yemen-based Houthis have attacked ships traveling through the Red Sea, one of the most important global shipping routes. As a result, many major shipping companies are sending their vessels on lengthy and expensive detours, causing freight prices to skyrocket. And with hotter-than-expected figures for December's consumer price index and retail sales, Cramer argued inflation could already be on the rise.

Persons: CNBC's Jim Cramer, freight's, Cramer, they're Organizations: Federal Reserve, FedEx, Canadian, Canadian Pacific Kansas City Locations: Yemen, Canadian Pacific Kansas

☆ This stock should benefit from Red Sea turmoil disrupting shipping, Redburn says
▼ + stars: | 2024-01-16 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

The railroad Canadian Pacific Kansas City is poised to benefit from mounting disruptions to shipping in the Red Sea that are rerouting global trade routes, according to Redburn Atlantic. The railroad's land bridge through North America is an attractive alternative for cargo from Asia to the U.S. East Coast as the Suez and Panama canals face disruptions to traffic. Container shipping through the Red Sea was down 30% in mid-December due to repeated attacks by Iran-allied Houthi militants in Yemen, Holmes told clients. CPKC's land bridge through Mexico north to the U.S. shortens transit time by 10 to 14 days compared to the Panama Canal, Holmes wrote. "This route is materially faster (10-14 days) than going through the Panama Canal, especially when there are restrictions in place," he told clients.

Persons: Oliver Holmes, Holmes, CPKC Organizations: Canadian, Canadian Pacific Kansas City, U.S ., Ships, Kansas City Southern, CP Locations: Canadian Pacific Kansas, Lázaro, Coast, U.S . East Coast, North America, Asia, Suez, Panama, Iran, Yemen, Hope, Africa, U.S . East, Mexico, U.S

☆ Ackman's bet against US Treasuries pays off with $200 mln profit
▼ + stars: | 2023-10-25 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

Ackman said on Monday on X, "we covered our bond short" some 12 weeks after he announced the bet on the messaging platform formerly known as Twitter. "The economy is slowing faster than recent data suggests," Ackman said in the post, adding "There is too much risk in the world to remain short bonds at current long-term rates." The yield on the 30-year Treasuries was around 4.16% when he announced his bet against them. He said the Treasury yield, which moves in the opposite direction of prices, could rise to 5.5%. But the conflict between Islamist group Hamas and Israel is unnerving investors and suggests Treasuries could become a safe investment option.

Persons: Bill Ackman, Richard Brian, Ackman, Treasuries, Svea Herbst, Bayliss, Jonathan Oatis Organizations: Pershing Square Capital Management, REUTERS, Companies, Billionaire, U.S, Financial Times, Inc, Restaurant Brands, Canadian Pacific Kansas City Limited, Pershing Square, Treasury, Hamas, Svea, Thomson Locations: Las Vegas , Nevada, U.S, Israel

☆ AI, weight loss drugs and more: Portfolio manager names stocks to play 'new secular growth themes'
▼ + stars: | 2023-10-24 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +4 min

And then you overlay on top of that the emergence of two or three brand new secular growth themes," he said. CNBC Pro takes a look at the stocks he likes in three "brand new" areas of growth: obesity drugs, reshoring and artificial intelligence. Reshoring infrastructure Ayer sees bright spots in the reshoring theme too. The portfolio manager named tech giant Amazon as a good play of the AI wave. The way Ayer sees it, more companies in the U.S. are foraying into AI right now, compared to those in other parts of the world.

Persons: Sanjay Ayer, Ayer, He's bullish, —, Christina Cheddar Berk, Carmen Reinicke, Julie Coleman Organizations: CNBC Pro, WCM Investment Management, Equity Fund, Nordisk, Novo Nordisk, U.S . Food, Drug Administration, Tetra Tech, Canadian, Canadian Pacific, U.S Locations: U.S, China, Japan, India

☆ Bill Ackman's Pershing Square adds to Google-parent Alphabet stake, slashes Lowe's bet
▼ + stars: | 2023-08-14 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Bill Ackman's Pershing Square Capital stepped up a bet in Google-parent company Alphabet while lowering a large stake in Lowe's during the second quarter, according to a regulatory filing. Pershing Square's stake in the Google parent's A shares was unchanged in the second quarter and stood at $261 million. Pershing Square also downsized holdings in Chipotle and Restaurant Brands International . Pershing Square now has a stake in the new company, known as Canadian Pacific Kansas City , worth $1.2 billion. Ackman's fund managed roughly $10.8 billion 13F securities at the end of the second quarter, according to WhaleWisdom.com .

Persons: Bill Ackman's, Pershing Organizations: Bill Ackman's Pershing, Capital, Google, Securities and Exchange Commission, Pershing Square's, Pershing, Restaurant Brands, Canadian Pacific Railway, Kansas City Southern, Canadian, Canadian Pacific Kansas City Locations: Lowe's, Chipotle, Canadian Pacific Kansas

☆ Billionaire investor Ackman says he is shorting 30-year Treasuries
▼ + stars: | 2023-08-03 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

"We are short in size the 30-year T," Ackman wrote on messaging platform X, formerly known as Twitter. "We implement these hedges by purchasing options rather than shorting bonds outright," Ackman wrote. Ackman said higher defense costs, energy transition and the greater bargaining power of workers all point toward higher inflation. "The best hedges are the ones you would invest in anyway even if you didn't need the hedge," Ackman wrote. A spokesman for Ackman didn't respond to a Reuters request for additional comment.

Persons: Bill Ackman, Mike Blake, William Ackman, Ackman, Treasurys, Fitch, Svea Herbst, Bayliss, Shri Navaratnam Organizations: Pershing, Capital, Wall Street Journal Digital, REUTERS, Capital Management, U.S, Twitter, Federal, White, Svea, Thomson Locations: Laguna Beach , California, U.S

☆ New tentative labor deal reached in Canadian port negotiations
▼ + stars: | 2023-07-31 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

The International Longshore and Warehouse Union of Canada (ILWU) and the British Columbia Maritime Employers Association (BCMEA) late Sunday announced a tentative labor agreement. Canadian Labor Minister Seamus O'Regan commented Monday morning on the announcement of another tentative deal. This latest tentative deal does not mean the uncertainty is over. The first tentative labor deal was rejected by the union body in a two-day vote last week. A 14-day strike has led to more than 16 canceled sailings to the Canadian ports, according to maritime intelligence company, eeSea.

Persons: Rob Ashton, Ashton, Seamus O'Regan, Berkshire Hathaway, John Brooks, Brooks Organizations: Warehouse Union of Canada, British Columbia Maritime Employers Association, Sunday, Canada Industrial Relations, ILWU, Canadian Labor, Canadian, Canadian Pacific Kansas City, Canadian National Railway, U.S, BNSF, Union Pacific, Norfolk Southern, CSX, Pacific Kansas City Locations: Burrard, North Vancouver, British, ILWU Canada, Canadian Pacific, U.S, Berkshire, East, Pacific Kansas

☆ Cramer picks his winners as the market starts to look outside of tech
▼ + stars: | 2023-07-20 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

After a down day for his "Magnificent Seven" stocks, CNBC's Jim Cramer picked winners outside the tech sphere. "But if you owned a diversified portfolio, including beaten-down stocks for 2023, stocks that represent great value now, you crushed it." Cramer saw winners on Thursday in the health-care sector, specifically Johnson & Johnson and Abbott Labs . He also advised that investors look into the utilities sector, including Sempra , PG&E and American Electric Power , along with transports, especially railroad company Canadian Pacific Kansas City . Cramer conceded he's not sure this broadening market move has staying power, wondering if tech will return to its top slot next week.

Persons: CNBC's Jim Cramer, Cramer, " Cramer, Tesla, Johnson, Morgan, Wells, Ralph Lauren, he's, there's, it's Organizations: Tesla, Netflix, Taiwan Semiconductor, Microsoft, Nvidia, Abbott Labs, Bank of America, Walmart, Costco, American Electric Power, Canadian, Canadian Pacific Kansas City Locations: Wells Fargo, Canadian Pacific Kansas

A union representing port workers in Western Canada officially began striking, an action that could have ripple effects reaching beyond the U.S.'s northern neighbor. The International Longshore & Warehouse Union Canada's Longshore Division announced its labor strike began in a Saturday Facebook post signed by union president Rob Ashton. More than 99% of members of the union, who support West Coast ports such as Vancouver and Prince Rupert, voted to approve the strike last month. In an email to CNBC, BNSF said it had no comment on a strike impact. In a CPKC customer advisory issued Wednesday, the railway said: "The work stoppage related to this notice could impact port operations in British Columbia.

Persons: Rob Ashton, Prince Rupert, Ashton, Seamus O'Regan Jr, Port of Prince Rupert, Paul Brashire, of Prince Rupert, Berkshire Hathaway, CPKC, Steve Lamar Organizations: Warehouse, Longshore Division, Facebook, Canada Longshore, British Columbia Maritime Employers Association, Canadian, U.S, CNBC, Tacoma ., Longshoremen's Association, Warehouse Union, ITS Logistics, Port, BNSF, American Apparel and Footwear Association Locations: Western Canada, West Coast, Vancouver, British, Canada, Port, Port of, Asia, Seattle, Tacoma, U.S, Chicago, Detroit, of, Canadian Pacific, Berkshire, British Columbia

☆ ILWU Canada West Coast port workers to strike starting July 1 in blow to recovering supply chain
▼ + stars: | 2023-06-28 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

After a recent landslide vote of union members, the ILWU Canada has served notice it plans to strike at the country's West Coast ports starting on July 1. ILWU Canada said in a statement on Wednesday that its goal is to protect jobs and claims the British Columbia Maritime Employers Association is demanding major concessions. Impact to U.S. economy and tradeThe biggest port to be affected by this strike is the Port of Vancouver, the largest port in Canada. So far, ILWU Canada has declined this binding mediation & arbitration proposal," it said. But logistics managers tell CNBC that news of the Canadian port worker strike is a blow to operations.

Persons: Prince Rupert, ILWU, Rob Ashton, BCMEA, Port of Prince Rupert, Berkshire Hathaway, Vancouver and Prince Rupert, Jon Gold, General Mills, Jeff Harmening, Paul Brashier, Brashier Organizations: Canadian Labor, ILWU, British Columbia Maritime Employers Association, Canadian, Port, Vancouver Fraser Port Authority, U.S, BNSF, U.S ., National Retail Federation, CNBC, Retailers, General, ITS Logistics Locations: Canada, Coast, ILWU Canada, West Coast, Vancouver, British, of Vancouver, Canadian, Vancouver Fraser, U.S, Port of Vancouver, Port of, West, CN, Canadian Pacific, Berkshire, Panama, U.S . West Coast, Midwest, Chicago

☆ ILWU Canada workers authorize strike in landslide vote, a 'significant blow' to West Coast ports
▼ + stars: | 2023-06-12 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

In a landslide vote, over 99% of ILWU Canada union workers critical for West Coast port operations, including in Vancouver and Prince Rupert, voted in favor of supporting a strike. The biggest port to be affected is the Port of Vancouver, the largest port in Canada. It is estimated that Canadian West Coast ports handle almost $225 billion worth of cargo a year, with items transported by rail including many consumer products, from apparel to electronics and home goods. The threat of a strike is occurring as labor tensions have escalated at U.S. West Coast ports. "This is a significant blow to operations on the West Coast," said Paul Brashier, vice president of drayage and intermodal at ITS Logistics.

Persons: Prince Rupert, Port of Prince Rupert, Prince Rupert Port Authority's, Brian Friesen, Berkshire Hathaway, Port, slowdowns, Paul Brashier, Adil Ashiq Organizations: ILWU, British Maritime Employers Association, Federal Maritime Conciliation, Port, Vancouver, Vancouver Fraser Port Authority, U.S, BNSF, U.S ., Pacific Maritime Association, ITS Logistics, Cargo, MarineTraffic, CNBC Locations: ILWU Canada, West Coast, Vancouver, of Vancouver, Canada, Canadian, Vancouver Fraser, U.S, Port of Vancouver, Port of, West, CN, Canadian Pacific, Berkshire, U.S . West Coast, Port, Seattle, Midwest, Chicago, Panama, East, North America

☆ Ackman's Pershing Square reveals new $1 billion bet on Alphabet
▼ + stars: | 2023-05-15 | by ( Samantha Subin | ) www.cnbc.com time to read: 1 min

Bill Ackman's Pershing Square Capital Management opened a new position in Alphabet totaling nearly $1.1 billion during the first quarter, according to securities filings released Monday. The hedge fund bought more than 10 million shares — about 2.2 million class A and 8.1 million class C — of the Google search engine parent as the company benefited from artificial intelligence tailwinds and investors deeming tech giants as defensive stalwarts. Alphabet shares have gained 32% year-to-date. Elsewhere, Ackman trimmed his positions in Lowe's Companies , Hilton Worldwide and Chipotle Mexican Grill . The hedge fund maintained its stake in Restaurant Brands International and made only a nominal change in Canadian Pacific .

☆ Big Tech earnings, crucial inflation call — here comes the biggest week of earnings season
▼ + stars: | 2023-04-22 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

Stocks stuck to a holding pattern this week as investors brace for an incoming wave of Big Tech earnings and the Fed's favorite inflation reading. Earnings reports have generally been better than expected so far this first quarter. Humana (HUM) reports before the bell Wednesday; Meta Platforms and Pioneer Natural Resources (PXD) report after the bell Wednesday. ET: Personal Spending & Income (includes PCE Price Index) Club trades this week Just one trade: We added 150 shares of Coterra Energy (CTRA) on Wednesday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

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