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CSX Corporation (CSX)

  • Oct. 13, 2014, 5:35 PM
  • Oct. 13, 2014, 10:08 AM
    • There's some bets being placed on M&A activity within the railroad sector after a weekend report of interest by Canadian Pacific in CSX (CSX +12.6%) stirs the pot.
    • Gainers: Norfolk Southern (NYSE:NSC) +5.1%, Kansas City Southern (NYSE:KSU) +4.2%, Canadian Pacific (NYSE:CP) +3.2%, Union Pacific (NYSE:UNP) +1.0%, Canadian National Railway (NYSE:CNI) +1.3%.
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  • Oct. 13, 2014, 9:15 AM
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  • Oct. 13, 2014, 7:45 AM
    • Shares of CSX (NYSE:CSX) move higher in early trading after the WSJ reports on merger interest from Canadian Pacific Railway.
    • CSX +8.9% premarket to $32.61.
  • Oct. 12, 2014, 4:11 PM
    • Canadian Pacific Railway (NYSE:CP) reportedly approached CSX Corp. (NYSE:CSX) during the past week about a potential merger that would unite two of North America's largest railroad operators.
    • The approach was rebuffed; it is unclear whether CP has since shelved the effort.
    • A deal would create an industry giant with a combined market cap of $62B.
    • Any deal would be subject to review by the  U.S. Surface Transportation Board, which has a history of intervening.
    • Source: WSJ
  • Oct. 8, 2014, 3:10 PM
    • CSX (NYSE:CSX) declares $0.16/share quarterly dividend, in line with previous.
    • Forward yield 2.05%
    • Payable Dec. 15; for shareholders of record Nov. 28; ex-div Nov. 26.
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  • Sep. 22, 2014, 1:03 PM
    • The amount of oil riding on railroads has risen to 1.6M barrels a day, according to data from the Energy Information Administration.
    • Revenue for hauling crude has skyrocketed 833% to $2.15B in just five years.
    • Analysts think the infrastructure investments made within the industry will provide continued benefits for the group.
    • Railroad stocks: UNP, NSC, CSX, CNI, ARII, GBX, CP, KSU, CNI.
  • Sep. 11, 2014, 5:49 PM
    • CSX today raised Q3 EPS guidance to slight growth Y/Y from flat, saying its volume in the current quarter is growing at a faster rate than expected.
    • CFO Fredrik Eliasson told the UBS Best of Americas conference in London that crowded and underfunded highway systems are boosting demand for rail transportation.
    • The railroad operator expects Q3 EPS at slightly above last year's $0.45, despite increased costs to keep the network fluid and restore higher service levels; the analyst consensus expects $0.47.
    • CSX says economic expansion is spurring broad-based growth across nearly all its markets, as the housing market continues to recover, another strong harvest is expected and the energy renaissance continues to drive growth in the industrial sector.
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  • Aug. 12, 2014, 8:28 AM
    • Macquarie upgrades Union Pacific (NYSE:UNP) to an Outperform rating from Neutral on its view the railroad operator has one of the steadiest growth profiles in the sector.
    • The investment firm cuts CSX (NYSE:CSX) to Neutral from Outperform after seeing its price target go unfulfilled.
    • Kansas City Southern (NYSE:KSU) is lifted to Neutral after being stuck with an Underperform rating.
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  • Jul. 15, 2014, 5:11 PM
    • CSX -0.3% AH after reporting slightly better than expected Q2 earnings on record quarterly revenue, rising 6.5% Y/Y to $3.24B, as total volume rose 7.5% while average revenue per unit slipped 1%.
    • CSX affirms its 2014 outlook for modest earnings and expects double-digit earnings growth and margin expansion to resume next year, citing a positive economic environment and growth trends in the intermodal and oil and gas markets.
    • Raises its 2014 spending plan by $100M to $2.4B to support sustainable growth.
    • Coal volume rose 6.5% on higher shipments of domestic coal attributable to marketplace gains and utilities replenishing stockpiles.
    • The results may help ease concerns that the U.S. economy’s Q1 contraction showed weakness beyond winter-weather disruptions; analysts also project Union Pacific (NYSE:UNP) and Norfolk Southern (NYSE:NSC) to announce sales records.
  • Jul. 15, 2014, 4:06 PM
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  • Jul. 14, 2014, 5:35 PM
  • Jul. 10, 2014, 10:51 AM
    • CSX Corporation (CSX) declares $0.16/share quarterly dividend, in line with previous.
    • Forward yield 2.07%
    • Payable Sept. 15; for shareholders of record Aug. 29; ex-div Aug. 27.
  • May 9, 2014, 8:58 AM
    • BNSF Railway (BRK.A, BRK.B), the main railroad moving crude oil out of the Bakken formation in North Dakota, says a new federal emergency order on rail shipments will not affect its shipments.
    • The U.S. Department of Transportation will require railroads to inform state emergency management officials about the movement of large shipments of crude oil, and will ask companies shipping oil from the Bakken to stop using older generation tank cars that have been involved in several fiery derailments.
    • BNSF says it will comply with the new reporting requirements but does not foresee any impact of service.
    • Related rail/oil stocks: CSX, UNP, NSC, KSU, CP, GWR, OAS, NOG, KOG, CLR, WLL, EOX.
  • May 7, 2014, 7:20 PM
    • The U.S. Department of Transportation announces steps to improve the safety of shipping crude oil by rail, but unlike its Canadian counterpart, is taking a voluntary approach to the phase-out of older tank cars known to be vulnerable in derailments.
    • The agency recommends energy producers that ship by rail discontinue the use of older DOT-111 model tank cars; in contrast, Transport Canada two weeks ago required a three-year phase-out of older tank cars.
    • DOT is matching Canada’s requirement that railroads disclose to state and county emergency management officials the routing, volume and frequency of crude oil shipments.
    • Related rail/oil stocks: CSX, UNP, NSC, KSU, CP, GWR, OAS, NOG, KOG, CLR, WLL, EOX.
  • Apr. 30, 2014, 3:30 PM
    • A train operated by CSX Corporation (CSX) has crashed near Lynchburg, Virginia, according to Reuters.
    • Initial reports indicate the train was carrying crude oil some of which has leaked into the James River.
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Company Description
CSX Corporation operates as a transportation supplier. It provides rail-based transportation services including traditional rail service and the transport of intermodal containers and trailers.
Sector: Services
Industry: Railroads
Country: United States