Acadian Timber Corp
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Materials : Paper & Forest Products | Small Cap Value
Based in Canada
Company profile

Acadian Timber Corp. is a Canada-based timberland provider in the Eastern Canada and the Northeastern United States. The Company owns and manages approximately 761,000 acres of freehold timberlands in New Brunswick (New Brunswick Timberlands or NB Timberlands), approximately 300,000 acres of freehold timberlands in Maine (Maine Timberlands) and provides timber services, which include approximately 1.3 million acres of Crown licensed timberlands in New Brunswick. The Company operates through two segments: NB Timberlands and Maine Timberlands. Its products include softwood and hardwood sawlogs, pulpwood and biomass by-products. It sells its products to approximately 90 regional customers. The Company has approximately 2.4 million acres of land under management.

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Railroad stocks rally as strike risk effectively removed after President Biden urged Congress to step in

10:39 am ET November 29, 2022 (MarketWatch)

Shares of railroad operators rallied Tuesday, as Evercore ISI analyst Jonathan Chappell said President Joe Biden's urging of Congress to step into the stalled talks between labor unions and rail operators effectively removes the risk of a strike. Biden's urging comes after a coalition of more than 400 business groups sent a letter asking congressional leaders to step get involved to avert a strike, which many believe would have devastating effects on the U.S. economy. Evercore's Chappell said there appears to be bipartisan support in Congress to act as soon as the end of this week, or well ahead of the Dec. 9 strike deadline. "We were uncertain on Congress's willingness to end a strike in a bipartisan manner (mainly owing to strong pro-labor leanings), let alone a week before the anticipated strike date, but this risk is now removed," Chappell wrote in a note to clients. The Dow Jones Transportation Average rallied 1.1% in morning trading, to outperform by a wide margin the Dow Jones Industrial Average , which tacked on 53 points, or 0.2%. Among the Dow transports' rail components, shares of Norfolk Southern Corp. climbed 1.5%, CSX Corp. hiked up 1.4% and Union Pacific Corp. advanced 1.4%. Shares of Matson Inc. , which provides rail intermodal services, gained 1.7%.

-Tomi Kilgore


(END) Dow Jones Newswires

November 29, 2022 10:39 ET (15:39 GMT)

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