Markets ended the day Monday with the S&P 500 down 1.1% and Toronto down 1.0%.
Accordingly, most stocks on our list were down. CN Rail was down 5.9% due to the general market decline as well as specifically due to an announcement that once candidate to be the next CEO (favored by a dissident share owner group) has pulled out of the race. It now seems more likely that CN will appoint a candidate from within the company and that apparently disappoints the market. It’s long been my opinion that CN has been very well managed indeed ever since its IPO in late 1995. The company has only rarely stumbled over the years. So, I don’t mind the idea of a stay-the-course CEO/.
Futures markets this evening are predicting modest rebound for stocks tomorrow.