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 email@example.com
(END) Dow Jones Newswires