WASHINGTON (dpa-AFX) - Shares of Canadian Pacific (CP) have moved notably higher during trading on Thursday, with the railroad operator climbing by 4.6 percent. Canadian Pacific reached its highest intraday level in a month earlier in the session.
The advance by Canadian Pacific comes after the company named Keith Creel President and Chief Executive Officer, effective January 31, 2017. Creel will succeed Hunter Harrison, who is retiring.
Harrison is reportedly joining with activist investors in an attempt to shake up management at rival railroad CSX Corp. (CSX).
Meanwhile, Canadian Pacific reported fourth quarter results that came in below analyst estimates, citing challenging operating conditions.
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