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Industrials Down As Aviation Worries Offset Railroad Deal -- Industrials Roundup

04/20/2021 | 05:32pm EDT

Shares of industrial and transportation companies fell as worries about the outlook for the aviation industry offset merger activity among railroads.

Canadian National Railway made a roughly $30 billion bid for Kansas City Southern, topping the offer from rival Canadian Pacific Railway, and likely kicking off a bidding war for the U.S. freight railroad.

Boeing shares fell as executives at airline United Airlines expressed caution on the outlook for the recovery in global aviation. Boeing's board cast a vote of confidence in Chief Executive David Calhoun by extending his job for up to five years and said it was searching for a new chief financial officer.

Canadian engineering company SNC-Lavalin Group said the World Bank Group granted an early lifting of all sanctions imposed in 2013 against the company after allegations of bribery in Bangladesh in connection with a bank-funded project.

 Write to Rob Curran at rob.curran@dowjones.com 

(END) Dow Jones Newswires

04-20-21 1731ET

Stocks mentioned in the article
ChangeLast1st jan.
CANADIAN NATIONAL RAILWAY COMPANY 0.45% 135.08 Delayed Quote.-3.90%
CANADIAN PACIFIC RAILWAY LIMITED 2.42% 487.27 Delayed Quote.7.75%
DJ INDUSTRIAL 1.29% 34021.45 Delayed Quote.11.97%
THE BOEING COMPANY 0.84% 222.64 Delayed Quote.4.01%
UNITED AIRLINES HOLDINGS, INC. 2.78% 52.43 Delayed Quote.21.23%
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