Updates on CANADIAN PACIFIC RAILWAY LTD., GEORGE WESTON LTD. and BANK OF NOVA SCOTIA

Article Excerpt

CANADIAN PACIFIC RAILWAY LTD. $66.56 (Toronto symbol CP; Shares outstanding: 169.1 million; Market cap: $11.3 billion; TSINetwork Rating: Average; Dividend yield: 1.6%; www.cpr.ca) reports that its earnings rose 18.3% in 2010, to $650.7 million from $550.0 million in 2009. Earnings per share rose 16.7%, to $3.85 from $3.30, on more shares outstanding. If you exclude unusual items, such as foreign-exchange losses on CP’s U.S.-dollar-denominated loans and gains on real-estate sales, earnings per share would have risen 54.2%, to $3.87 from $2.51. The latest earnings beat the consensus earnings estimate of $3.80 a share. CP’s revenue rose 13.2%, to $5.0 billion from $4.4 billion in 2009. The company saw revenue gains from fertilizer (up 53.5%), automotive (up 38.0%), consumer and industrial products (up 14.8%), intermodal (up 12.5%), coal (up 10.6%) and forest products (up 5.0%). Revenue from grain shipments fell 0.1%. The company’s mechanics’ union may go on strike next month. Canadian National Railway (Toronto symbol CNR) recently reached a new deal with…
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