As the rail strike at Canadian National Railway Company (CNI - Free Report) continues for more than a week shaking up the economy, union members receive lay-off notices.
The Unifor union received a notice on the lay-off of 70 workers at a Nova Scotia facility effective Thursday, who tackle vehicles shipped in and out of Canada. Regarding these job cuts in Halifax due to the strike, management stated, “this strike has affected all of our operations, including at our autoport facilities.”
The strike led by about 3,200 conductors and railyard operators of the company began on Nov 19 with workers agitating over safety issues, working conditions including time to take break, and benefits.
Zacks Rank & Key Picks
Canadian National carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are Kansas City Southern (KSU - Free Report) , Allegiant Travel Company (ALGT - Free Report) and Controladora Vuela Compania de Aviacion, S.A.B. de C.V. (VLRS - Free Report) . While Allegiant sports a Zacks Rank #1 (Strong Buy), Kansas City Southern and Controladora Vuela carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Kansas City Southern, Allegiant Travel and Controladora Vuela have soared more than 61%, 69% and 100%, respectively, so far this year.
5 Stocks Set to Double
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