Sunny days seem to be back for Canadian National Railway Company CNI once again, as the railroad operator confirmed the termination of strike notice from the International Brotherhood of Electrical Workers (“IBEW”) for issues primarily related to wages and benefits. Notably, IBEW has agreed to binding arbitration and shall end the strike on Jul 5.

The 750 signal and communications employees of Canadian National, represented by the IBEW, shall resume their respective work from Jul 6, 2022.

CNI had received a 72-hour strike notice from the union on Jun 15. Per a Reuters report, IBEW turned down CNI leadership’s 10% wage-hike proposal for the striking employees. The increment was requested for three years.

Despite the strike materializing, the movement of products like crops, oil, potash, coal and other manufactured remained normal, per CNI. The Zacks Rank #3 (Hold) railroad operator is grateful to its management employees and contractors for their ongoing services, which kept rail operations smooth during this emergency situation. Notably, shares of CNI have gained 8.7% over the past year against 6.1% loss of the industry it belongs to.

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Stocks to Consider

Some better-ranked stocks in the broader Zacks Transportation sector are Kirby KEX, C.H. Robinson Worldwide CHRW and Diana Shipping Inc. DSX, each carrying a Zacks Rank #2 (Buy). You can see  the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Kirby has an expected earnings growth rate of 278.57% for the current year. KEX delivered a trailing four-quarter earnings surprise of 7.7%, on average.

Kirby has a long-term earnings growth rate of 12%. Shares of KEX have gained 2.3% so far this year.

C.H. Robinson has an expected earnings growth rate of 15.9% for the current year. CHRW delivered a trailing four-quarter earnings surprise of 17.1%, on average.

C.H. Robinson has a long-term earnings growth rate of 9%. Shares of CHRW have gained 8.8% over the past year.

Diana has an expected earnings growth rate of 265.1% for the current year. The Zacks Consensus Estimate of Diana’s current-year earnings has improved 5.4% over the past 90 days.

Shares of DSX have gained 18% so far this year.

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Canadian National Railway Company (CNI) : Free Stock Analysis Report
 
C.H. Robinson Worldwide, Inc. (CHRW) : Free Stock Analysis Report
 
Diana Shipping inc. (DSX) : Free Stock Analysis Report
 
Kirby Corporation (KEX) : Free Stock Analysis Report
 
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