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Stock Market & Financial Investment News

News Breaks
January 16, 2014
11:40 EDTUNP, KSU, NSC, CP, CSXCSX 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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August 27, 2015
10:00 EDTCSX, KSUOn The Fly: Analyst Upgrade Summary
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07:11 EDTKSUKansas City Southern upgraded on valuation at Stifel
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07:09 EDTCSXCSX upgraded on valuation, 2016 outlook at Stifel
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05:18 EDTKSUKansas City Southern upgraded to Hold from Sell at Stifel
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05:18 EDTCSXCSX upgraded to Buy from Hold at Stifel
August 25, 2015
10:10 EDTKSUHigh option volume stocks
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August 20, 2015
10:00 EDTUNPOn The Fly: Analyst Downgrade Summary
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10:00 EDTKSUOn The Fly: Analyst Upgrade Summary
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06:52 EDTUNPUnion Pacific downgraded to Neutral from Outperform at Macquarie
Macquarie downgraded Union Pacific to Neutral and lowered its price target to $95 form $105. The firm believes upcoming gas capacity will pressure rail growth in 2017-2018 and displaced coal volumes will be hard to overcome.
06:52 EDTKSUKansas City Southern upgraded to Outperform from Neutral at Macquarie
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