CALGARY — Canadian Pacific Kansas City Ltd. is lowering its financial forecast due to economic challenges and losses stemming from the B.C. port workers strike.
In the quarter ended Sept. 30, CPKC is reporting that net income fell 12 per cent to $780 million from the combined $891 million earned by Canadian Pacific and Kansas City Southern a year earlier — before the two railways merged in April. High interest rates are derailing the ambitions of climate regulators and automakers to accelerate the shift to electric vehicles, underscored Wednesday by the scrapping of a GM-Honda partnership and a warning from a battery maker. Electric vehicle sales are still growing strongly, but that demand is not keeping up with the expectations of carmakers and other companies that have invested billions of dollars in the EV space.
Pfizer will still benefit from the 25% stake it retained as well as full rights to the drug outside the US and Japan. An "extremely bearish" technical pattern, known as a double top, has taken shape on the Magnificent 7 stocks' combined price chart, fueling fears of a selloff. Home buyers are backing out of deals at the highest rate in a year as surging mortgage rates slam the housing market