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January 28, 2014
08:48 EDTNSC, KOPKoppers Holdings signs long-term sales contract with Norfolk Southern
Koppers Inc., a subsidiary of Koppers Holdings (KOP), and Norfolk Southern (NSC) have agreed to extend their two existing sales contracts to supply railroad crossties and related rail products and services for an additional three years. These long-term contract extensions, combined with the current contract to supply rail joint products, further strengthens the long-standing relationship between Koppers and Norfolk Southern.
News For KOP;NSC From The Last 14 Days
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January 30, 2015
17:10 EDTNSCNorfolk Southern, BLET reach five-year collective bargaining agreement
Norfolk Southern and the Brotherhood of Locomotive Engineers and Trainmen reached a new collective bargaining agreement that continues to link engineer compensation to corporate performance through 2019. The agreement, which covers approximately 4,600 locomotive engineers, provides engineers with an annual bonus opportunity based on corporate performance and for the first time includes individual incentive opportunities based on personal performance. The agreement also includes changes to improve engineer work scheduling, which will help ensure that NS has a more stable and available workforce while providing employees with more predictable schedules.
January 27, 2015
10:31 EDTNSCNorfolk Southern to close Roanoke office building
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09:55 EDTNSCNorfolk Southern downgraded at Avondale
As previously reported, Avondale downgraded Norfolk Southern to Market Perform from Outperform. The firm downgraded shares due to the impact of lower energy prices on volume, prices and margins and said the continued drop in diesel could threaten domestic intermodal volumes. Price target lowered to $105 from $125.
09:44 EDTNSCNorfolk Southern downgraded to Market Perform from Outperform at Avondale
08:52 EDTNSCArgus upgraded Norfolk Southern based on valuation
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08:15 EDTNSCNorfolk Southern upgraded to Buy from Hold at Argus
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January 26, 2015
08:02 EDTNSCNorfolk Southern reports Q4 General Merchandise revenue up 3% $1.7B
Reports Q4 Intermodal revenue up 5% to $649M; Reports Q4 Coal revenue down 15% to $543M
08:01 EDTNSCNorfolk Southern plans to invest $2.4B in capital investments
Norfolk Southern plans to invest $2.4B in capital investments to maintain the safety and quality of our rail network, enhance service, improve operational efficiency, and support growth opportunities.
08:01 EDTNSCNorfolk Southern reports Q4 EPS $1.64, consensus $1.63
Reports Q4 revenue $2.87B, consensus $2.94B
January 23, 2015
14:50 EDTNSCNorfolk Southern January weekly volatility elevated into Q4 and outlook
Norfolk Southern January weekly call option implied volatility is at 45, February is at 27, March is at 25; compared to its 26-week average of 24 according to Track Data, suggesting large price movement into the expected release of Q4 results on January 26.
14:46 EDTNSCNorfolk Southern technical comments before earnings
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14:45 EDTNSCNorfolk Southern raises quarterly dividend 4% to 59c per share
Norfolk Southern announced that its board voted to increase the regular quarterly dividend on the company's common stock by 4%, or 2c per share, from 57c to 59c per share. The increased dividend is payable on March 10 to stockholders of record on February 6.
January 21, 2015
07:16 EDTKOPKoppers Holdings sells utility pole business to Cox Industries
Cox Industries has completed the acquisition of the U.S. utility pole business from Koppers Inc., a wholly owned subsidiary of Koppers Holdings. The transaction includes the sale of Koppers existing pole inventory, lease agreements related to multiple pole distribution yards Koppers maintains throughout the country, and the purchase of related manufacturing assets. The transaction does not include the sale of Koppers wood treating facility located in Florence, South Carolina.
January 20, 2015
08:34 EDTKOPKoppers Inc. acquires creosote distribution business of KMG Chemicals for $12.5M
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08:33 EDTKOPKMG Chemicals announces sale of creosote distribution assets to Koppers
KMG Chemicals (KMG) announced that it has sold its creosote distribution business to Koppers Inc., a wholly-owned subsidiary of Koppers Holdings Inc. (KOP). Assets included in the transaction are KMG’s rail car and tank terminal leases, and creosote inventory. KMG estimates that cash proceeds from the sale will be approximately $15.5M, which includes approximately $3M worth of inventory. The asset sale closed concurrently with the signing of the asset purchase agreement. KMG fully retains its North American pentachlorophenol manufacturing operations, and the company will continue to produce and supply this important wood preservative used for the treatment of wooden utility poles and cross-arms.
08:31 EDTKOPKoppers Inc. sells U.S. utility pole business to Cox Industries
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