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Stock Market & Financial Investment News

News Breaks
February 27, 2013
11:00 EDTKSUKansas City Southern rallying on Port Arthur talks, says Wells Fargo
Wells Fargo attributes the strength in shares Kansas City Southern to speculation that the company may be working on an agreement for construction of crude and chemical offloading and storage at its Port Arthur location. Wells notes that KSU owns around 500 acres in Port Arthur, Texas, and that discussions with a third party to construct storage facilities ended several years ago. The firm says the discussions appear to have been reignited with a different third party, leading to the rally in shares today. Wells thinks construction of such a facility at Port Arthur would be very beneficial to KSU and keeps an Outperform rating on the stock.
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