OTTAWA, April 23- Canada will require that older rail cars used for carrying crude oil be phased out by May 2017, the government said on Wednesday, moving ahead of the United States to ban the controversial cars in light of burgeoning oil-by-rail traffic and a deadly accident last year.» Read More
OMAHA, Neb.— Norfolk Southern's first-quarter profit fell 18 percent as severe winter weather slowed the railroad's shipments and coal revenue dropped 15 percent.
Canadian Pacific Railway Ltd and Canadian National Railway Co have come under enormous pressure to clear the backlog, which resulted from a record harvest last year and subsequent disruptions of service caused by a frigid winter.
*Quarterly earnings per share C $1.44 vs C $1.41 estimate. CP shares jumped 6 percent to C $173.83 on the Toronto Stock Exchange in early morning trading.
*Netflix jumps, results show strong subscriber growth. NEW YORK, April 22- U.S. stock index futures were flat on Tuesday as investors found few reasons to continue buying after a five-day rally in the S&P 500, though Netflix jumped following its earnings results.
CSX Corp and Norfolk Southern Corp are both trading 15 percent or more below their warranted share price, according to a measure of "intrinsic valuation" tracked by Thomson Reuters StarMine.
BISMARCK, N.D.— Canadian Pacific Railway told a federal oversight board Friday that moving fertilizer for spring planting does not present a "significant challenge" for the railroad.
BISMARCK, N.D.— BNSF Railway Co. will add trains in the Dakotas, Minnesota and Montana solely for transporting fertilizer for spring crop planting, the railroad has told a federal oversight board. The federal board this week ordered BNSF and Canadian Pacific Railway to report their plans by Friday to ensure delivery of fertilizer shipments this spring.
OMAHA, Neb.— The harsh winter didn't keep Union Pacific railroad from delivering 14 percent higher quarterly profit as it hauled more agricultural, industrial and coal shipments. Union Pacific's revenue grew 7 percent to $5.64 billion. Analysts surveyed by FactSet expected Union Pacific to report earnings per share of $2.37 on $5.7 billion in revenue.
WASHINGTON— Only one-fifth of its track will be equipped with mandatory safety technology to prevent the most catastrophic kinds of collisions and derailments by the deadline set by Congress, the freight railroad industry said Wednesday.
April 16- Railroad operator Kansas City Southern reported better-than-expected quarterly results as a bumper corn crop in 2013 led to higher grain shipments. Midwest to Mexico, Chief Executive David Starling said on a conference call with analysts.
April 16- Railroad operator Kansas City Southern reported a 10 percent rise in first-quarter revenue, helped by higher shipments in its agriculture business. Revenue rose to $607.4 million from $552.8 million, while revenue at the company's agriculture business jumped 40 percent.
CNBC's Dominic Chu provides insight on the action in road and rail stocks, as well as air freight and logistics stocks.
CSX Corp. stock declined more than 3 percent to $27.36 in afternoon trading Wednesday. Ward said the Chicago area's cold, snowy winter was especially problematic because all the major freight railroads connect in Chicago and commuter trains use some of the same rails. There is already a long-term plan in place to improve rail traffic through Chicago.
PIERRE, S.D.— A federal oversight board told Canadian Pacific Railway and BNSF Railway that they have until Friday to report their plans to ensure delivery of fertilizer shipments for spring planting of U.S. crops.
OMAHA, Neb.— Harsh winter weather slowed CSX railroad and contributed to a 14 percent drop in first-quarter profit, even as freight volume grew modestly. On Tuesday, the railroad based in Jacksonville, Fla., reported net income of $398 million, or 40 cents per share, in the quarter ending March 31. That's down from $462 million, or 45 cents per share, a year ago.
LONDON, April 15- Electro-Motive Diesel, the world's largest diesel locomotive manufacturer, has taken delivery of the first of four specially designed liquefied natural gas tenders ultimately destined for use on the Canadian National railroad.
The North Dakota Republican said BNSF Executive Chairman Matt Rose told him over the weekend that the railroad "will dedicate additional resources and crews to get fertilizer to North Dakota producers faster."
VENTURA, Calif.— California is preparing for an oil boom— brought in on rail cars. There are no pipelines that bring crude oil into California. According to the California Public Utilities Commission, five California refineries have facilities either about to come online or in the planning stages that will let them receive crude-oil deliveries by rail.
"My target date is as soon as possible," Foxx told a panel of the Senate Appropriations Committee when asked when the new standard would be ready. The Department of Transportation is responsible for mandating a new tank car design, but officials are counting on input from industry.
OTTAWA, April 3- Governments should require companies shipping crude oil by rail to carry enough liability insurance to make up for shortfalls in coverage carried by railways, the president of Canada's second-largest rail operator said on Thursday.