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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
Check below for free stories on CSX;NSC;UNP;CP;KSU the last two weeks.
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August 20, 2014
06:26 EDTCPU.S. regulators call meeting with BNSF, Canadian Pacific over delays, WSJ says
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August 18, 2014
07:10 EDTUNPUnion Pacific shares recommended at Credit Suisse
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August 17, 2014
16:00 EDTUNPUnion Pacific freight trains collide in Arkansas killing two, WSJ says
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August 14, 2014
17:02 EDTCPPershing Square gives quarterly update on stakes
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August 12, 2014
10:00 EDTCSXOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Applied Micro Circuits (AMCC) downgraded to Market Perform at FBR Capital... CSX (CSX) downgraded to Neutral from Outperform at Macquarie... Southwestern Energy (SWN) downgraded to Market Perform from Outperform at BMO Capital... Steven Madden (SHOO) downgraded to Neutral from Buy at Citigroup... Teck Resources (TCK) downgraded to Sell from Neutral at Goldman... United Technologies (UTX) downgraded at Cowen... Walter Investment (WAC) downgraded to Market Perform from Outperform at FBR Capital... Whiting USA Trust (WHX) downgraded to Underperform at Raymond James... magicJack (CALL) downgraded to Hold from Buy at Canaccord.
10:00 EDTKSU, UNPOn The Fly: Analyst Upgrade Summary
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09:32 EDTUNPUnion Pacific upgraded at Macquarie
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09:32 EDTKSUKansas City Southern upgraded at Macquarie
As previously reported, Macquarie upgraded Kansas City Southern to Neutral from Underperform. The firm upgraded shares based on heavy crude start-ups in Baton Rouge and Beaumont and ethylene project updates to drive growth. Price target raised to $114 from $106.
09:32 EDTCSXCSX downgraded at Macquarie
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07:57 EDTUNPUnion Pacific upgraded to Outperform from Neutral at Macquarie
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07:57 EDTCSXCSX downgraded to Neutral from Outperform at Macquarie
07:56 EDTKSUKansas City Southern upgraded to Neutral from Underperform at Macquarie

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