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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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October 1, 2014
16:11 EDTCPCanadian Pacific expects to more than double EPS over next four years
The company expects to grow annual revenue to $10B in 2018, and to generate cumulative cash flow before dividends of $6B through 2018.
September 29, 2014
18:18 EDTCPCanadian Pacific raises share repurchase authorization to 8% from 3%
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September 25, 2014
06:39 EDTCPCanadian Pacific to host two day investor meeting
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September 22, 2014
10:30 EDTNSCNorfolk Southern September weekly volatility elevated into investor meeting
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07:25 EDTCSX, KSUCitigroup to hold a conference
Industrials Conference to be held in Boston on September 22-24.
September 18, 2014
10:55 EDTNSCNorfolk Southern to host investor and analyst meeting
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