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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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July 31, 2014
14:00 EDTUNPUnion Pacific raises quarterly dividend 10% to 50c per share
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11:23 EDTCPCanadian Pacific, TCRC-RCTC reach tentative six-year labor agreement
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July 28, 2014
09:26 EDTUNPUnion Pacific price target raised to $120 from $104 at Argus
Argus raised its price target on Union Pacific after the company reported higher than expected EPS and an improved operating ratio. The firm thinks the company's operating ratio has reached very healthy levels. It keeps a Buy rating on the stock.
July 24, 2014
08:04 EDTUNPUnion Pacific says optimistic about second half of year
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08:03 EDTUNPUnion Pacific reports Q2 EPS $1.43, consensus $1.43
Reports Q2 revenue $6.0B, consensus $6.0B. Reports Q2 operating ratio of 63.5%, improved 2.2 points. The company said, "We were pleased to see strong volume growth which, combined with solid core pricing, drove more than a two-point improvement in our Operating Ratio to a record 63.5% for the quarter."
July 23, 2014
15:39 EDTNSCNorfolk Southern says coal inventories still down vs. year ago levels
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15:37 EDTNSCNorfolk Southern sees economy growing at 'reasonable' pace into 2015
Norfolk Southern CEO speaking in CNBC interview.
15:30 EDTUNPNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Ford (F), consensus 36c; General Motors (GM), consensus 58c; Potash (POT), consensus 46c; Caterpillar (CAT), consensus $1.52; 3M (MMM), consensus $1.91; Union Pacific (UNP), consensus $1.43; Bristol-Myers Squibb (BMY), consensus 44c; Eli Lilly (LLY), consensus 65c; Celgene (CELG), consensus 89c; Precision Castparts (PCP), consensus $3.35; Raytheon (RTN), consensus $1.59; Noble Energy (NBL), consensus 79c; Hershey (HSY), consensus 76c; Southwest Airlines (LUV), consensus 61c; Boston Scientific (BSX), consensus 19c; JetBlue (JBLU), consensus 19c.
08:04 EDTNSCNorfolk Southern reports Q2 EPS $1.79, consensus $1.74
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July 22, 2014
14:20 EDTNSCNorfolk Southern raises quarterly dividend 6% to 57c from 54c per share
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July 21, 2014
10:42 EDTKSUOptions with decreasing implied volatility
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