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Stock Market & Financial Investment News

News Breaks
March 31, 2014
08:23 EDTCSX, GWR, NSCRailroad operator estimates lowered at Stephens
Stephens lowered its estimates for several rail operators ahead of their Q1 earnings reports citing the severe winter weather, but thinks the potential impact of weather on the quarter is well known. The firm said it would use post-earnings weakness in Genesee & Wyoming (GWR), CSX (CSX) or Norfolk Southern (NSC) as a buying opportunity, as it believes underlying demand is strengthening and the fundamental outlook for the group is unchanged. Stephens has Overweight ratings on the three stocks mentioned above.
News For GWR;CSX;NSC From The Last 14 Days
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March 2, 2015
09:03 EDTNSCNorfolk Southern names Jim Squires CEO effective June 1, 2015
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February 27, 2015
09:58 EDTCSXOn The Fly: Analyst Upgrade Summary
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08:48 EDTCSXCSX upgraded at BMO Capital
As reported previously, BMO Capital upgraded CSX to Outperform from Market Perform. After meeting with the company's management, the firm thinks it has a significant cost reduction opportunity; an improving pricing environment; and robust demand in the merchandise and intermodal segments. The firm believes that the coal headwind only presents a moderate risk to the company. Target to $40 from $38.
06:24 EDTCSXCSX upgraded to Outperform from Market Perform at BMO Capital
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February 26, 2015
10:00 EDTGWROn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ASUR Airports (ASR) upgraded to Sector Perform from Underperform at Scotia Capital... AcelRx (ACRX) upgraded to Buy from Neutral at Mizuho... AllianceBernstein (AB) upgraded to Buy from Neutral at BofA/Merrill... American Express (AXP) upgraded to Buy from Hold at Deutsche Bank... Argus upgraded Sonoco (SON) on multiple positive catalysts... Columbia Property (CXP) upgraded to Neutral from Sell at Goldman... Deutsche sees American Express (AXP) as undervalued, upgrades to Buy... Eldorado Gold (EGO) upgraded to Neutral from Sell at Goldman... Genesee & Wyoming (GWR) upgraded to Buy from Neutral at BofA/Merrill... Gruma (GMK) upgraded to Overweight from Equal Weight at Barclays... Isle of Capri (ISLE) upgraded to Outperform from Neutral at Macquarie... JAKKS Pacific (JAKK) upgraded at B. Riley... QTS Realty Trust (QTS) upgraded to Buy from Hold at Deutsche Bank... Sonoco (SON) upgraded to Buy from Hold at Argus... T-Mobile (TMUS) upgraded to Buy from Neutral at Citigroup... Vulcan Materials (VMC) upgraded at RBC Capital.
07:35 EDTGWRGenesee & Wyoming upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill upgraded Genesee & Wyoming to Buy to reflect the boost in earnings from the Freightliner acquisition.
February 25, 2015
08:42 EDTGWRGenesee & Wyoming to hold a conference call
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07:20 EDTCSXCSX management to meet with UBS
Meeting to be held in Boston on February 25 hosted by UBS.
February 24, 2015
18:20 EDTGWRGenesee & Wyoming sees Freightliner to generate US$785M in revenue in first year
During its first year of ownership, G&W expects Freightliner to generate approximately US$785M in revenues at current exchange rates and US$93M of EBITDA , which includes annual operating lease expense of US$69M. G&W expects the acquired business to require annual average capital expenditures of approximately US$26M and to have depreciation and amortization expense of approximately US$28M. On a blended basis, income from Freightliner carries a weighted average book tax rate of 22%. G&W expects annualized EPS accretion from the acquisition of approximately 8%, subject to finalization of acquisition accounting under U.S. GAAP.
18:18 EDTGWRGenesee & Wyoming to acquire Freightliner Group Limited
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February 23, 2015
09:59 EDTNSC, CSXOn The Fly: Analyst Initiation Summary
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06:17 EDTNSCNorfolk Southern initiated with an Underweight at JPMorgan
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06:09 EDTCSXCSX initiated with an Overweight at JPMorgan
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February 22, 2015
13:45 EDTNSC, GWR, CSXCanada introduces legislation to enhance crude-by-rail safety, accountability
The Honourable Lisa Raitt, Minister of Transport, introduced legislation in the House of Commons that will enhance railway safety and make the rail industry and crude oil shippers more accountable to Canadians. The new Safe and Accountable Rail Act proposes amendments to the Canada Transportation Act and Railway Safety Act. Changes include a new liability and compensation regime for federally regulated railways, including minimum insurance requirements; a compensation fund financed by levies on crude oil shippers; increased information-sharing provisions; and stronger oversight powers for the Minister and Transport Canada inspectors. The new liability and compensation regime will be consistent with those the Government has introduced for other modes of transport, such as marine tankers and oil pipelines. It is based on the “polluter pays” principle and makes railways and shippers responsible for the cost of accidents, protecting taxpayers and communities by ensuring that adequate resources are available for compensation if an accident were to occur. Proposed amendments to the Railway Safety Act will broaden the powers of the Minister and inspectors to order railway companies and others to take specified measures or stop any activity deemed necessary for safe railway operations. The proposed amendments will also create new regulation- making powers requiring railway companies to share information with municipalities. These changes are part of the Government’s commitment to strengthen oversight and increase collaboration between communities and the rail industry, addressing issues raised in the Transportation Safety Board’s final report on the Lac-Mégantic derailment as well as concerns of the Federation of Canadian Municipalities. Publicly traded companies in the space include CSX (CSX), Canadian National (CNI), Canadian Pacific (CP), Genesee & Wyoming (GWR), Kansas City Southern (KSU), Norfolk Southern (NSC) and Union Pacific (UNP). Reference Link
February 18, 2015
07:07 EDTCSXBarclays to hold a conference
Industrial Select Conference is being held in Miami on February 18-19.
February 17, 2015
18:02 EDTCSXDerailed train that exploded in West Virginia had modern tanker cars, WSJ says
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08:59 EDTCSXCSX confirms response to West Virginia train derailment
CSX announced that teams were working with first responders on the derailment of an oil train near Mount Carbon, West Virginia. The train consisted of two locomotives and 109 rail cars and was traveling from North Dakota to Yorktown, Va. One person was being treated for potential inhalation, but no other injuries were reported. "At least one rail car appears to have ruptured and caught fire. The derailment has resulted in the precautionary evacuation of nearby communities, and precautionary suspension of operations at the Cedar Grove and Montgomery water treatment plants. CSX is working with the Red Cross and other relief organizations to address residents’ needs, taking into account winter storm conditions. These efforts include shelters for residents who have been evacuated. CSX teams also are working with first responders to address the fire, to determine how many rail cars derailed, and to deploy environmental protective measures and monitoring on land, air and in the nearby Kanawha River. The company also is working with public officials and investigative agencies to address their needs," the company said.

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