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Stock Market & Financial Investment News

News Breaks
January 9, 2013
10:45 EDTRA, NSC, CNI, UNP, CP, CSX, KSU, GWRMississippi River may soon be too shallow for barges, NPR reports
The Mississippi River will likely be kept open through the end of this month, but parts of it may soon be too shallow for barges, NPR quoted the Army Corps of Engineers as saying. Reference Link
News For CSX;CNI;GWR;CP;NSC;KSU;UNP;RA From The Last 14 Days
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April 16, 2015
09:19 EDTCSXCSX still preferred name in rails, says Susquehanna
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08:43 EDTCSXKoppers Holdings announces contract extensions with CSX, BNSF
Koppers, a wholly-owned subsidiary of Koppers Holdings (KOP), announced that it has agreed to contract extensions with each of its two largest railroad customers, BNSF Railway and CSX Transportation (CSX). Koppers combined revenues from BNSF and CSX accounted for approximately 40% of 2014 railroad-related sales for Koppers. The agreements extend the contracts to 2021 from the previous 2017 expirations and include commitments for Koppers to provide crossties as well as related products and services to BNSF and CSX through the respective contract periods.
April 15, 2015
08:45 EDTCSXCSX sees FY15 EPS up in mid-to-high single digits
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08:42 EDTCSXCSX sees Q2 EPS flat-to-slightly up
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08:41 EDTCSXCSX sees generally flat demand volume in Q2
Sees favorable conditions for 49% of market and favorable to unfavorable for remaining 51% during Q2. Sees Q2 fuel costs driven lower by lower cost per gallon. Sees Q2 average headcount up 3%. Sees Q2 inflation about $35M. Comments made during Q1 earnings conference call.
April 14, 2015
18:30 EDTCSXOn The Fly: After Hours Movers
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17:09 EDTCSXCSX up almost 3% after Q1 financial results, buyback and dividend increase
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17:05 EDTGWRGenesee & Wyoming reports March traffic down 2.2% to 164,261 carloads
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16:53 EDTNSCOn The Fly: Top stock stories for Tuesday
Stocks on Wall Street were mixed for the day, beginning the session in positive territory helped by better than expected earnings reports from JPMorgan (JPM), Johnson & Johnson (JNJ), and Wells Fargo (WFC). The early economic data was slightly below Wall Street expectations and became a headwind for the market. By the end of the first hour of trading the market had turned negative, and it spent the remainder of the day trading in mixed fashion. ECONOMIC EVENTS: In the U.S., retail purchases for March advanced 0.9%, bouncing up from a 0.5% decline in February. However, economists had predicted a 1.1% growth after improvements on last month's weather. The producer price index grew 0.2% for March, in line with consensus estimates. Core PPI grew 0.2% versus expectations of 0.1% growth. The International Monetary Fund's World Economic Outlook Report trimmed U.S. growth forecast to 3.1% from its previous outlook of 3.6%, while global forecast was left unchanged at 3.5%. COMPANY NEWS: Avon (AVP) surged 66c, or 8.24%, to $8.67 following a Wall Street Journal report that the company is exploring strategic alternatives, including potentially selling its North American business, though a Bloomberg report later in the day claimed the company is not conducting a formal sale process... Nokia (NOK) confirmed it is in "advanced discussions" to buy French telecom firm Alcatel-Lucent (ALU), prompting French President Francois Hollande to schedule meetings with leaders from both companies. Later in the day, the French government announced it supports the potential deal, with French Economy Minister Emmanuel Macron stating Nokia reassured officials by detailing "clear undertakings." Nokia fell 34c, or 4.1%, to $7.96 at the close, while Alcatel jumped 58c, or 13.33%, to $4.93. MAJOR MOVERS: Among the notable gainers was 58.com (WUBA), which rallied 33.52%, or $17.04, to $67.87 after the Financial Times reported the company has signed a memorandum of understanding to merge with rival classifieds service Ganji.com. Also higher was PartnerRe (PRE), which advanced 8.49% to $129.25 after EXOR proposed to acquire the company for $130.00 per share in cash, valuing PartnerRe at $6.4B. Following earnings, JPMorgan (JPM) advanced 1.56% to $63.04 after beating expectations, while Wells Fargo (WFC) fell 0.73% and Johnson & Johnson fell 0.03% after reducing its FY15 earnings guidance. Among the noteworthy losers was Arrowhead Research (ARWR), which tumbled 7.75% after Jefferies downgraded the stock to Hold and lowered its price target to $9 from $30. The firm said that while ARC-520 offers the potential for a Hepatitis B virus functional cure, it prefers to wait for multi-dosing data. Also lower was Norfolk Southern (NSC), which dropped 4.18% to $100.49 and was downgraded to Hold at TD Securities following first quarter guidance that fell below expectations. INDEXES: The Dow rose 59.66, or 0.33%, to 18,036.70, the Nasdaq lost 10.96, or 0.22%%, to 4,977.29, and the S&P 500 advanced 3.41, or 0.16%, to 2,095.84.
16:22 EDTCSXCSX says strength in dollar has impacted metals business
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16:21 EDTCSXCSX CEO says has been building intermodal unit
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16:07 EDTCSXCSX raises dividend 13% to 18c, announces new $2B share repurchase program
The CSX board has approved an increase in the quarterly dividend and a new share repurchase program. The 13% increase in the dividend, to 18c per share, is payable on June 15 to shareholders of record at the close of business on May 29. This is the 13th increase in 10 years, representing a 26% compound annual growth rate during that time. The new, $2B share repurchase program is expected to be completed over the next 24 months. This follows the successful completion of CSX's previous repurchase plan, during which the company bought back $1B worth of shares. Since 2006, CSX has repurchased nearly $9B in shares.
16:03 EDTCSXCSX reports Q1 EPS 45c, consensus 44c
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15:34 EDTCSXNotable companies reporting after market close
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12:24 EDTNSCOn The Fly: Top stock stories at midday
Stocks on Wall Street were mixed at midday despite better than expected headline earnings from JPMorgan (JPM), Wells Fargo (WFC) and Johnson & Johnson (JNJ). The market began the session in positive territory on the heels of those solid earnings reports, but the averages were unable to hold their early gains as the retail sales figures released during the pre-market trading session missed expectations. ECONOMIC EVENTS: In the U.S., retail purchases grew 0.9% in March, rebounding from a 0.5% decline in February. However, economists were expecting a more pronounced 1.1% advance in recovery from the prior month's weather driven weakness. The producer price index rose 0.2% in March, matching expectations. The core PPI, which excludes food and energy, grew 0.2% as well, versus expectations for it to have risen 0.1%. Business Inventories grew 0.3% in February, versus expectations for them to be up 0.2%. The International Monetary Fund, in its latest World Economic Outlook Report, trimmed its U.S. growth forecast to a 3.1% pace from its prior 3.6% view, but left its global forecast intact at a 3.5% rate. COMPANY NEWS: Shares of JPMorgan advanced 1.5% after its headline earnings per share topped expectations, even before accounting for 13c per share in aftertax legal expense that the bank identified as a "significant item." Conversely, fellow large bank Wells Fargo (WFC) slid 1.5% after its own report on first quarter results, despite the fact that its earnings and revenue both topped the consensus forecast... Shares of Johnson & Johnson (JNJ) were fractionally higher at midday after its first quarter earnings and revenue beat expectations. The multinational company, however, lowered its FY15 adjusted earnings outlook, citing further negative foreign currency movements... Nokia (NOK) and Alcatel-Lucent (ALU), in response to "recent media speculation," confirmed that they are in advanced discussions with respect to a potential full combination, which would take the form of a public exchange offer by Nokia for Alcatel. MAJOR MOVERS: Among the notable gainers was 58.com (WUBA), which jumped 25% after Financial Times reported the company has signed a memorandum of understanding to merge with peer Ganji.com to create one of the largest specialized online classified companies in China. Also higher was PartnerRe (PRE), which advanced nearly 9% to trade near $129.50 after Europe based investment company EXOR announced that it submitted a written proposal to acquire 100% of the common shares of the company for $130.00 per share in cash, valuing PartnerRe at $6.4B. EXOR said its all-cash proposal represents a 16% premium to the implied value per share of $112.53 for PartnerRe under the merger deal it has in place with AXIS Capital (AXS). Among the noteworthy losers was Arrowhead Research (ARWR), which tumbled over 6% after Jefferies downgraded the stock to Hold and cut its price target for shares to $9 from $30 after assuming coverage of the stock. The firm said that while ARC-520 offers the potential for a Hepatitis B virus functional cure, it prefers to wait for multi-dosing data. Also lower was Norfolk Southern (NSC), which fell nearly 6% and was downgraded to Hold from Buy at TD Securities after the railroad operator provided first quarter guidance that came in below analysts' consensus estimates. INDEXES: Near midday, the Dow was up 53.15, or 0.3%, to 18,030.19, the Nasdaq was down 16.19, or 0.32%, to 4,972.06, and the S&P 500 was up 2.20, or 0.11%, to 2,094.63.
10:01 EDTNSCOn The Fly: Analyst Downgrade Summary
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09:23 EDTNSCNorfolk Southern falls on profit warning, levels to watch
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09:18 EDTCSXCSX volatility elevated into Q1 and outlook
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09:13 EDTNSCOn The Fly: Pre-market Movers.
UP AFTER EARNINGS: JPMorgan Chase (JPM), up 1%... Johnson & Johnson (JNJ), up marginally... Triangle Petroleum (TPLM), up 4.2%... Fastenal (FAST), up 5%. ALSO HIGHER: Brainstorm Cell Therapeutics (BCLI), up 13.5% after announcing that it will present NurOwn Phase 2a clinical data at the Academy of Neurology annual meeting... Builders FirstSource (BLDR), up 7.2% after being upgraded to Buy from Hold at Stifel... Solazyme (SZYM), up 7.5% after announcing a strategic agreement with Flotek (FTK)... Cleveland BioLabs (CBLI), up 6.8% after receiving funding recommendation from the Department of Defense... Nordic American Tanker (NAT), up 3.2% after raising quarterly dividend to 38c from 22c... Ocwen (OCN), up 3.8% after reporting preliminary fiscal 2014 results. DOWN AFTER EARNINGS: Wells Fargo (WFC), down just under 1%. ALSO LOWER: Norfolk Southern (NSC), down 5.8% after being downgraded to Hold from Buy at TD Securities... RXi Pharmaceuticals (RXII), down 14.3% after filing to sell $20M of common stock and warrants... Arrowhead Research (ARWR), down 4.5% after being downgraded to Hold from Buy at Jefferies.
07:36 EDTNSCNorfolk Southern downgraded to Hold from Buy at TD Securities
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