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Stock Market & Financial Investment News

News Breaks
February 25, 2013
10:01 EDTNSCNorfolk Southern to discontinue certain railcar sorting operations in Roanoke
Norfolk Southern announced that it will cease regional railcar classification operations at its Roanoke Terminal hump yard in Roanoke, Va., beginning today. This will mean the elimination of about 140 positions. The Terminal will continue to provide service to local customers, and to be a hub for through-train operations. The Roanoke hump operation has seen a steady decline in the volume of general merchandise cars handled by about 30% since 2006. At the same time, system-wide improvements in the railroad's operations have freed up network capacity such that classification operations now performed at Roanoke are no longer necessary. System-wide, Norfolk Southern anticipates hiring between 850 and 1,150 employees in 2013 to keep up with attrition. These positions will first be offered to employees affected by the Roanoke change and employees furloughed at other locations.
News For NSC From The Last 14 Days
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May 20, 2015
08:46 EDTNSCNorfolk Southern reports volumes Q2-to-date are down 1%
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May 15, 2015
06:44 EDTNSCEnvironmentalists file lawsuit over oil train safety rules, NY Times says
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May 14, 2015
13:12 EDTNSCNorfolk Southern names Alan Shaw Chief Marketing Officer
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11:29 EDTNSCNorfolk Southern CEO says 'confident' in company's long-term strengths
Addressing his last annual meeting as Norfolk Southern's CEO, Wick Moorman told shareholders that "we see continuing strength in the overall economy as well as opportunities in many of the markets we serve," and, "We are confident in our company's long-term strengths and prospects for continued success." President Jim Squires becomes CEO June 1, and Moorman will remain as executive chairman of the board. Moorman reviewed company highlights of 2014, which included "earning record income, revenues, and earnings per share while establishing its best-ever operating ratio, a key indicator of operating performance." These accomplishments were especially significant, Moorman said, considering 2014's extreme winter weather and traffic surges that exceeded expectations, which created service challenges. He delivered an upbeat message to customers and stockholders. "We expect to reach the strong velocity and service levels we saw in 2012 and 2013 by the second half of this year," Moorman said. "As we restore our network's velocity and efficiency, we will be able to secure additional business at rates that will drive positive returns for our shareholders."
09:19 EDTNSCKansas City Southern drops after withdrawing 2015 revenue, volume guidance
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May 13, 2015
10:46 EDTNSCRail estimates lowered at Wolfe Research
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