) was up after saying it has extended its master services agreement with Canada Post Corp. and Purolator Inc. until Sept. 30, 2029.
Cargojet first signed the agreement in 2014 for a seven-year term, with CPGOC exercising an option in 2017 extending the agreement until March 31, 2025.Cargojet provides air cargo services to major cities across North America and select international destinations.) gained in the wake of reporting a smaller-than-expected 41-per-cent drop in fourth-quarter profit on Tuesday as the bank’s trading business got a boost from market volatility, offsetting the hit from sluggish dealmaking.
The gloom follows what was a bumper 2021 for Wall Street’s investment bankers who advised on multi-billion dollar mergers and buyouts, while underwriting listings of some of the biggest clients to tap the public markets in over a decade. The investment banking business slowdown weighed on the company’s net revenue, pulling it down 12 per cent to US$12.7-billion.