Ability to Bulk Edit Calendar Items, ie. Mark Done or Cancelled

Looking for a bulk action on the calendar for case. When a case is in litigation and it settles, it is VERY time consuming to go into each entry and mark cancelled. Also, when an event is cancelled, can it function like outlook where it says CANCELLED in the subject line. It is confusing to mark it cancelled, but it stay on the Outlook calendar and only until you open the entry, can you see the 'status'.