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Stock Market & Financial Investment News

News Breaks
January 16, 2014
11:40 EDTCSX, NSC, UNP, CP, KSUCSX tumbles after fourth quarter profit misses expectations
Railroad operator CSX Corporation (CSX) is one of today's losers after the company's fourth quarter profit fell below expectations. WHAT'S NEW: Last night, CSX reported fourth quarter earnings per share of 42c and revenue of $3B, compared to analysts' consensus estimate of 43c and $3.01B, respectively. The company forecast modest growth in 2014, predominantly in the second half of the year. Earnings in the first half of the year were forecast by the company to to be flat to sightly down. "Supported by the strength of an expanding economy, we delivered 6% volume growth in the quarter, despite another sharp decline in coal," said CEO Michael Ward. ANALYST REACTION: This morning, analyst commentary was mixed. Research firm Stifel downgraded CSX to Hold from Buy, citing valuation after the company missed profit estimates. Conversely, Argus upgraded CSX to Buy from Hold, citing accelerating shipments of crude oil from shale formations, near-record grain harvests, increased demand for consumer finished goods, and stabilizing coal shipments. The firm maintained a price target of $35 on the shares. PRICE ACTION: In late morning trading, CSX tumbled 65% to $27.32 on more than twice its average daily trading volume. Over the past twelve months, the stock has gained approximately 30%, making a 52-week high of $29.25 earlier this month. OTHERS TO WATCH: Other rail suppliers include Norfolk Southern (NSC), Union Pacific (UNP), Kansas City Southern (KSU) and Canadian Pacific (CP), all of which are trading lower on the session.
News For CSX;NSC;UNP;CP;KSU From The Last 14 Days
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July 17, 2014
15:26 EDTKSUNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include General Electric (GE), consensus 39c; Honeywell (HON), consensus $1.36; Bank of New York Mellon (BK), consensus 56c; Johnson Controls (JCI), consensus 83c; V.F. Corporation (VFC), consensus 35c; Kansas City Southern (KSU), consensus $1.17; Autoliv (ALV), consensus $1.55.
08:01 EDTCSXCSX price target raised to $38 from $33 at Argus
Argus increased its price target on CSX after the company reported stronger than expected Q2 results. The firm remains upbeat on North American railroad companies and keeps a Buy rating on CSX.
07:37 EDTCPCanadian Pacific reports Q2 EPS C$2.11, consensus C$2.10
Reports Q2 revenue C$1.68B, consensus C$1.65B. Operating ratio was 65.1%, a 680 basis point improvement.
July 16, 2014
19:37 EDTCPCanadian Pacific to challenge arbitrators reinstatement of drug-using employee
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10:17 EDTKSUKansas City Southern July volatility elevated into Q2 and outlook
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09:33 EDTCSXCSX expects international traffic in low-single digits going forward
09:19 EDTCSXCSX expects 'much more robust' volume environment going forward
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09:00 EDTCSXCSX expects positive demand enviornment in Q3
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08:59 EDTCSXCSX expects Q3 earnings to be roughly flat vs. prior year
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08:24 EDTCSXCSX aims to build on Q2 momentum with continued strength in 2H14
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July 15, 2014
16:19 EDTCSXCSX CEO sees some expense for tank car adjustments
16:18 EDTCSXCSX expects to grow faster than rate of economy
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16:17 EDTCSXCSX CEO seeing 'good vibrancy' across its sectors
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16:07 EDTCSXCSX backs expectation for modest full-year earnings growth in FY14
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16:03 EDTCSXCSX reports Q2 EPS 53c, consensus 52c
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15:27 EDTCSXNotable companies reporting after market close
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July 14, 2014
14:28 EDTCSXCSX technical comments ahead of results
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July 10, 2014
14:00 EDTCPCanadian Pacific July volatility increases into Q2
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08:10 EDTCPMorgan Stanley's Vintage Values 2015 list selected
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July 9, 2014
15:09 EDTCSXCSX July volatility flat into Q2 and outlook
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