09:37 AM EST - Canadian Pacific Railway Ltd. : reported a sharp decline in fourth-quarter profit, negatively impacted by lower one-time gains and higher operating expenses, despite a 9.4% rise in revenues driven by stronger U.S. dollar. Further, the Calgary-based operator of a transcontinental railway reduced its capital spending plan for 2009. Fourth-quarter net income was $200.6 million, down from $342.3 million last year. Earnings per share declined 41.6% to $1.29 from $2.21 in the prior year. Canadian Pacific Railway Ltd.
shares T.CP are trading up $1.19 at $38.89.
