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News Breaks
April 15, 2014
07:36 EDTCSXBar lowered for CSX in short-term but long-term issues remain, WSJ says
Expectations for railroad operator CSX have been lowered due to the expected impact of the harsh winter, giving the company a potential opportunity for its results and outlook to exceed the lowered bar, said The Wall Street Journal's "Ahead of the Tape" column. However, the report cautions that coal market dynamics and other factors may mean a bigger reset in expectations is still due to come. Reference Link
News For CSX From The Last 14 Days
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November 20, 2015
06:54 EDTCSXCSX investment case remains compelling, says Citi
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05:12 EDTCSXStocks with implied volatility movement; CHK CSX
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November 18, 2015
07:24 EDTCSXCP offer for Norfolk Southern a starting point, says Citi
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November 17, 2015
17:32 EDTCSXNorfolk Southern spikes after Canadian Pacific proposes merger
Shares of railroad operator Norfolk Southern (NSC) are spiking in the after-hours after rival Canadian Pacific (CP) announced that it has sent an offer letter to Norfolk Southern proposing a business combination. WHAT'S NEW: After the close of trading on Tuesday, Canadian Pacific proposed a business combination with Norfolk Southern "that would create a transcontinental railroad with the scale and reach to deliver improved levels of service to customers and communities while enhancing competition and creating significant shareholder value." Canadian Pacific noted that the proposal reflects a "sizable premium in cash and stock offered to NS shareholders." The combined company would have a potential for faster earnings growth than either of the companies independently, CP noted, while offering unparalleled customer service and competitive rates to shippers." The combined company would innovate a new approach to terminal access that would allow another carrier to operate from a point of connection in the event the combined company failed to provide adequate service or competitive rates. The combination of NS and CP would provide a solution to "bottleneck pricing" and alleviate congestion in Chicago by channeling rail traffic away from Chicago. WHAT'S NOTABLE: According to a Globe and Mail report from earlier Tuesday, Keith Creel the COO of Canadian Pacific, who was speaking at a transportation conference, said rail mergers are inevitable but the executive "refused" to confirm past reports that the railroad operator was in talks to acquire rival Norfolk Southern. ANALYST VIEW: ON November 12, research firm BB&T said it believes there are many scenarios in which a merger between Canadian Pacific and Norfolk Southern would benefit both companies. The firm said that Norfolk Southern shareholders would get a 20%-30% premium above the stock's current level, while Canadian Pacific's potential revenue growth issues would be solved and its 2018 EPS would be boosted by 20% plus. PRICE ACTION: Shares of Norfolk Southern are up 6.9% to $93.00, while Canadian Pacific shares are unchanged. OTHERS: Publicly traded companies in the space include CSX (CSX), Canadian National (CNI), Genesee & Wyoming (GWR), Kansas City Southern (KSU) and Union Pacific (UNP).

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