10:29 AM EST - Canadian Pacific Railway : said on Tuesday its second-quarter profit dropped more than 30 percent on lower income tax benefits. CP Rail, Canada's No. 2 railway which said last week that Brookfield Asset Management had approached it with a bid proposal, earned $257.7 million, or $1.64 a share, down from a profit of $378.1 million, or $2.37 a share, a year earlier. Canadian Pacific Railway
shares T.CP are trading down $2.06 at $84.64.
