CN to invest C$10M in Nova Scotia » 07:0607/0207/02/20
CN announced that, as…
Story temporarily locked.
Kansas City Southern announces organizational changes focused on PSR strategy » 16:3207/0107/01/20
Kansas City Southern…
Kansas City Southern announced several organizational changes effective July 1 designed to further support the company's ongoing Precision Scheduled Railroading strategy and provide development opportunities for several KCS leaders. Mike Walczak, currently vice president mechanical operations, will move to a newly created role in the Finance organization, reporting to executive vice president and chief financial officer Michael W. Upchurch. In this role, Mr. Walczak will lead Service Design, Car Management, Fuel Management, Treasury and Tax, working closely with executive vice president PSR Sameh Fahmy to continue the execution of KCS' very successful PSR strategy. Darin Selby, currently vice president intermodal and automotive operations, will assume responsibility for Mechanical Operations. Mr. Selby has extensive leadership experience in Sales and Marketing and Operations, and will lead KCS' Mechanical organization as it continues to right-size its equipment fleet, increase staff productivity, minimize failures and train delays and invest in new technologies to improve the reliability of company assets. Olivia Daily, currently assistant vice president service design, will assume the role of vice president purchasing. Bill Blaise, currently vice president purchasing, has elected to retire effective September 1, and will assist in the transition of the Purchasing organization. Bill has been with KCS since 2007 in a variety of finance roles.
Delta to reopen seven Sky Clubs in July with added protections for guests » 14:0707/0107/01/20
Select Delta Sky Clubs…
Select Delta Sky Clubs are reopening their doors "with additional layers of protection to keep customers safe and at ease," the company announced in a post to its news hub site. "Clubs in Chicago O'Hare (E Concourse), Denver, Miami, Nashville, Orlando, Phoenix and San Francisco will join Clubs that are already operating as they reopen throughout July, with additional Clubs reopening as travel increases over the coming months," Delta stated. Reference Link
North American rail traffic dropped 14.3% in week ended June 27 » 12:5007/0107/01/20
CNI, CP, CSX, KSU, NSC, UNP, GWR
The Association of…
The Association of American Railroads, AAR reported U.S. rail traffic for the week ending June 27, as well as volumes for June 2020. U.S. railroads originated 794,256 carloads in June 2020, down 22.4%, or 228,975 carloads, from June 2019. U.S. railroads also originated 1,004,933 containers and trailers in June 2020, down 6.6 percent, or 70,994 units, from the same month last year. Combined U.S. carload and intermodal originations in June 2020 were 1,799,189, down 14.3%, or 299,969 carloads and intermodal units from June 2019."June was a month in which the slow recovery process that began in early May, began to accelerate," said AAR Senior Vice President John T. Gray. "By the end of June, freight loadings had improved by about 60,000 carload and intermodal units weekly over where they had been in late April. Total combined weekly rail traffic in North America was 628,993 carloads and intermodal units, down 14.3%. North American rail volume for the first 26 weeks of 2020 was 16,174,394 carloads and intermodal units, down 12% compared with 2019. Publicly traded companies in the space include CSX (CSX), Canadian National (CNI), Canadian Pacific (CP), Genesee & Wyoming (GWR), Kansas City Southern (KSU), Norfolk Southern (NSC) and Union Pacific (UNP). Reference Link
Garrett Motion falls -8.7% » 12:0007/0107/01/20
Garrett Motion is down…
Garrett Motion is down -8.7%, or -48c to $5.06.
Air Products' new industrial gases plant in Louisiana now onstream » 09:1807/0107/01/20
Air Products' new…
Air Products' new steam methane reformer and cold box in Geismar, Louisiana are onstream and supplying Huntsman's neighboring industrial operations. Air Products built, owns and operates the facility under a long-term agreement, supplying carbon monoxide, hydrogen and steam produced from the facility to Huntsman. Air Products' SMR is also connected to its Gulf Coast hydrogen pipeline and network system, the world's largest hydrogen plant and pipeline network system. The new facility is located on land leased from Huntsman and produces approximately 6.5 million standard cubic feet per day of CO, 50 MMSCFD of hydrogen, and up to 50,000 pounds per hour of steam. The facility is also capable of being expanded to increase CO supply in the future to support additional demand.
Apollo funds, Merx complete sale-leaseback transaction with Delta Air Lines » 08:4507/0107/01/20
APO, AINV, DAL, EADSY
Apollo Global Management…
Apollo Global Management (APO) and Merx Aviation announced the completion by certain funds managed by affiliates of Apollo and Merx of a sale and leaseback transaction with Delta Air Lines (DAL) of ten Airbus (EADSY) A220-100 aircraft. The aircraft, manufactured in 2019, were acquired by an aviation platform established by Apollo, which invests in a diverse set of aircraft types, vintages and jurisdictions and is serviced by Merx. The A220 is a core part of the future of Delta's domestic fleet, with state-of-the-art interior and best-in-class fuel efficiency. Powered by technologically advanced Pratt & Whitney PW1500G geared turbofan engines and incorporating composite materials, the A220 also offers reduced noise and emissions. Merx is a wholly owned portfolio company of Apollo Investment Corporation (AINV).
Eight new option listings and three option delistings on July 1st » 08:3007/0107/01/20
ACEL, ATOM, CCH, CSPR, NSCO, SHLL, VXRT, RUBI, TECD
New option listings for…
New option listings for July 1st include Accel Entertainment Inc (Class A Stock) (ACEL), Atomera (ATOM), Collier Creek Holdings (Class A Stock) (CCH), Casper Sleep Inc (CSPR), Magnite Inc (MGNI), Nesco Holdings Inc (NSCO), Tortoise Acquisition Corp (Class A Stock) (SHLL), and Vaxart (VXRT). Option delistings effective July 1st include McDermott International Inc (MDRIQ), The Rubicon Project Inc (RUBI), and Tech Data Corporation (TECD).
Constellium releases 2019 business, sustainability report » 08:1507/0107/01/20
Constellium SE released…
Constellium SE released its 2019 Business and Sustainability Report, outlining the company's progress against its sustainability goals. The company also announced its 2025 Greenhouse Gas Emissions target: reducing GHG emissions by 25% compared with a 2015 baseline. The company said, "The report highlights milestones Constellium achieved in 2019, including: Aluminium Stewardship Initiative: As a founding member of the Aluminium Stewardship Initiative, Constellium has promoted the adoption of ASI Standards across the aluminium value chain, which require that the industry operates under a demanding set of governance, environmental and social criteria. We received ASI Certifications for Singen's casting and rolling operations in 2019. Our Neuf-Brisach facility in France was certified against ASI's Performance Standard under provisional COVID conditions* in 2020. Energy Efficiency: Thanks to dedicated energy efficiency programs at our plants, we achieved a 2% improvement in energy efficiency from 2018 to 2019, with a 6.4% improvement against our 2015 benchmark - the equivalent of 100,000 metric tons of CO2 savings. Reducing Landfilled Waste: The quantity of production waste sent to landfill decreased by 7% as compared with 2018, preventing nearly 2,000 metric tons from ending up in landfill. Safety: Our recordable injuries rate decreased from 3.31 in 2016 to 2.40 in 2019. This was well below our target of 2.61 in 2019 and remains significantly lower than the industry average. However, we experienced one fatality, which led to the implementation of a new EHS initiative, focused on behavior. Sustainable Purchasing: Constellium expects its suppliers to comply with all applicable laws and sustainability practices and conducts regular sustainability due diligence. As of 2019, nearly two third of our key suppliers have been assessed."
BofA makes 14 additions, four deletions from US 1 list » 07:3307/0107/01/20
HLT, LB, STZ, ACGL, C, HRC, UNP, SPLK, QCOM, IMMU, NFLX, CHTR, ATVI, EQIX, FANG, ALSN, MDLZ, SMG
BofA added the following…
BofA added the following names to the US 1 List: Hilton (HLT), L Brands (LB) Constellation Brands (STZ), Arch Capital (ACGL), Citi (C), Hill-Rom (HRC), Union Pacific (UNP), Splunk (SPLK), Qualcomm (QCOM), Immunomedics (IMMU), Netflix (NFLX), Charter (CHTR), Activision Blizzard (ATVI) and Equinix (EQIX). The firm removed Diamondback Energy (FANG), Allison Transmission (ALSN), Mondelez (MDLZ) and Scotts Miracle-Gro (SMG). The firm's US 1 list is intended to represent a collection of best investment ideas among Buy-rated, U.S.-listed stocks that fundamental equity research analysts at BofA cover.