New User:

-or-
Username:
Password:
Forgot your password?

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.
Sign up for a free trial to see the rest of the stories you've been missing.
September 18, 2014
10:55 EDTNSCNorfolk Southern to host investor and analyst meeting
Subscribe for More Information
September 17, 2014
07:39 EDTCPMorningstar to hold a conference
Management Behind the Moat Conference to be held in Chicago on September 17-18.
September 16, 2014
13:53 EDTKSUKansas City Southern raises FY14 EPS to high teens growth from mid-teens growth
Subscribe for More Information
September 15, 2014
07:42 EDTCSX, KSUMorgan Stanley to hold a conference
Subscribe for More Information
September 11, 2014
12:37 EDTCSXCSX backs view of 'modest' FY14 EPS growth, consensus $1.86
Subscribe for More Information
12:36 EDTCSXCSX now sees Q3 EPS 'slightly' above 45c, consensus 47c
Subscribe for More Information
September 9, 2014
14:14 EDTCPCanadian Pacific, TCRC-RCTC ratify six-year labor agreement
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use