Latest news for Cargotec (OTC:CYJBY) Stock

Cargotec

Cargotec Oyj provides cargo and load handling solutions. Its product portfolio consists of a wide range of handling equipment and solutions, including services for terminals and distribution centers, spare parts for on-road delivery, and systems for handling marine cargo. Mobile equipment mixed with automation and energy-efficient offerings helps customers integrate different handling processes. Cargotec operates three business segments: Kalmar, Hiab, and MacGregor. The majority of sales derive from distributing products, but a global network offers services and components. Customers range from small businesses to large national organizations. The company has established customer relationships in Europe/Middle East/Africa, Asia-Pacific, and the Americas.

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Bank of Canada cuts key policy rate by 25 basis points to 4.25% and suggests further cuts if inflation continues to ease.

Bank Of Canada Cuts Rates Again As Inflation, Labor Market Cool: Canadian Stocks Rebound, Loonie Strengthens

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Cargotec Lowers 2012 Operating-Profit Margin Outlook

Cargotec Oyj

The Bank of Canada (BoC) reduced its key policy rate by 25 basis points to 4.25% on Wednesday, marking the third consecutive rate <a href="https://www.benzinga.com/topic/interest-rates">cut since June</a>. 
The move was widely anticipated by market participants as inflation and the labor market continued to show signs of slowing.
The Canadian economy grew by 2.1% in the second quarter, led by government spending and business investment. However, the labor market continues to slow, with little change in employment in recent months. Wage growth, however, remains elevated relative to productivity.
During a press conference, Governor Tiff Macklem suggested that further rate cuts may be on the horizon if inflation continues to ease as expected. 
&#8220;If inflation continues to ease broadly in line with our July forecast, it is reasonable to expect further cuts in our policy rate,&#8221; Macklem said.
Inflation cooled to 2.5% in July, aligning with the BoC's target range. Core inflation measures also averaged around 2.5%, but the central bank noted that high shelter price inflation remains the biggest contributor to overall inflation. Shelter costs are now finally starting to ease.
<h3 class="wp-block-heading">Market Reactions</h3>
Canadian markets reacted positively on Wednesday following the Bank of Canada's decision to cut interest rates. Investors showed optimism, pushing both stocks and bonds higher.
Yields on Canadian 10-year Treasury bonds dropped by 5 basis points to 3.2%, reflecting increased demand for government debt. The Canadian dollar or Loonie rose 0.3% to 1.35 levels against the dollar. 
Canadian equities rebounded, with the iShares MSCI Canada ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWC#NYSE">EWC</a>) rising 0.6%, while the Franklin FTSE Canada ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLCA#NYSE">FLCA</a>) gained 0.7%.
<h3 class="wp-block-heading">Wednesday&#8217;s Top Gainers in Canadian Stocks:</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>1-Day %</td>
</tr>
<tr>
<td>Cameco Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCJ#NYSE">CCJ</a>)</td>
<td>3.58%</td>
</tr>
<tr>
<td>TELUS Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TU#NYSE">TU</a>)</td>
<td>3.52%</td>
</tr>
<tr>
<td>Innergex Renewable Energy Inc.</td>
<td>3.52%</td>
</tr>
<tr>
<td>Cargojet OYJ (OTCPK: CYJBY)</td>
<td>3.10%</td>
</tr>
<tr>
<td>Bombardier Inc. (OTCPK: BDRBF)</td>
<td>2.87%</td>
</tr>
<tr>
<td>Bausch Health Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHC#NYSE">BHC</a>)</td>
<td>2.72%</td>
</tr>
<tr>
<td>Terra Vest Industries Inc.</td>
<td>2.70%</td>
</tr>
</tbody>
</table>
</figure>
Now Read:
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40711148/july-job-openings-fall-to-3-year-lows-gap-with-unemployment-narrows-to-near-parit">July Job Openings Fall To 3-Year Lows, Gap With Unemployment Narrows To Near Parity: Traders Raise Rate Cut Bets</a></li>
</ul>
Image: Shutterstock

Cargotec OYJ (OTC: <a class="ticker" href="/stock/cyjby#OTC">CYJBY</a>) lowered its forecast for 2012 operating profit margin. 

Cargotec now projects 2012 operating profit margin to be about 6%. The company in April expected operating margin to be higher than 2011's 6.6%.

The Bank of Canada (BoC) reduced its key policy rate by 25 basis points to 4.25% on Wednesday, marking the third consecutive rate <a href="https://www.benzinga.com/topic/interest-rates">cut since June</a>. 



The move was widely anticipated by market participants as inflation and the labor market continued to show signs of slowing.



The Canadian economy grew by 2.1% in the second quarter, led by government spending and business investment. However, the labor market continues to slow, with little change in employment in recent months. Wage growth, however, remains elevated relative to productivity.



During a press conference, Governor Tiff Macklem suggested that further rate cuts may be on the horizon if inflation continues to ease as expected. 



&#8220;If inflation continues to ease broadly in line with our July forecast, it is reasonable to expect further cuts in our policy rate,&#8221; Macklem said.



Inflation cooled to 2.5% in July, aligning with the BoC's target range. Core inflation measures also averaged around 2.5%, but the central bank noted that high shelter price inflation remains the biggest contributor to overall inflation. Shelter costs are now finally starting to ease.



<h3 class="wp-block-heading">Market Reactions</h3>



Canadian markets reacted positively on Wednesday following the Bank of Canada's decision to cut interest rates. Investors showed optimism, pushing both stocks and bonds higher.



Yields on Canadian 10-year Treasury bonds dropped by 5 basis points to 3.2%, reflecting increased demand for government debt. The Canadian dollar or Loonie rose 0.3% to 1.35 levels against the dollar. 



Canadian equities rebounded, with the iShares MSCI Canada ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWC#NYSE">EWC</a>) rising 0.6%, while the Franklin FTSE Canada ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLCA#NYSE">FLCA</a>) gained 0.7%.



<h3 class="wp-block-heading">Wednesday&#8217;s Top Gainers in Canadian Stocks:</h3>



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Name</td><td>1-Day %</td></tr><tr><td>Cameco Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCJ#NYSE">CCJ</a>)</td><td>3.58%</td></tr><tr><td>TELUS Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TU#NYSE">TU</a>)</td><td>3.52%</td></tr><tr><td>Innergex Renewable Energy Inc.</td><td>3.52%</td></tr><tr><td>Cargojet OYJ (OTCPK: CYJBY)</td><td>3.10%</td></tr><tr><td>Bombardier Inc. (OTCPK: BDRBF)</td><td>2.87%</td></tr><tr><td>Bausch Health Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHC#NYSE">BHC</a>)</td><td>2.72%</td></tr><tr><td>Terra Vest Industries Inc.</td><td>2.70%</td></tr></tbody></table></figure>



Now Read:



<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40711148/july-job-openings-fall-to-3-year-lows-gap-with-unemployment-narrows-to-near-parit">July Job Openings Fall To 3-Year Lows, Gap With Unemployment Narrows To Near Parity: Traders Raise Rate Cut Bets</a></li>
</ul>



Image: Shutterstock

Cargotec OYJ (OTC: <a class="ticker" href="/stock/cyjby#OTC">CYJBY</a>) lowered its forecast for 2012 operating profit margin. 

Cargotec now projects 2012 operating profit margin to be about 6%. The company in April expected operating margin to be higher than 2011's 6.6%.

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