Road and Rail
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FORT SMITH, Ark.-- Arkansas Best Corp.' s shares slumped Wednesday after the trucking company posted a larger-than-expected fourth-quarter loss on modest revenue gains and higher expenses. Arkansas Best posted a loss of $7.9 million, or 31 cents per share, for the quarter.
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TORONTO, Jan 29- Canadian Pacific Railway Ltd said on Tuesday its aggressive efficiency push would pay off in a 40 percent increase in earnings this year, sending its shares to an all-time high even after it reported a sharp drop in profit on charges related to the restructuring.
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KANSAS CITY, Mo.-- Freight railroad operator Kansas City Southern on Monday raised its quarterly dividend by 10 percent to 21.5 cents per share. The increase of 2 cents per share will be included on dividends payable April 3 to shareholders as of March 11.
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*Barges strike bridge near Vicksburg on Sunday, spill oil. Jan 28- More than 300 barges were awaiting passage through a closed section of the Mississippi River near Vicksburg, Mississippi, on Monday, a day after two tanker barges struck a railroad bridge and one leaked an unknown amount of oil into the river.
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LOWELL, Ark.-- Shares of J.B. Hunt Transport Services Inc. hit an all-time high Thursday after the trucking company posted fourth-quarter results that beat market expectations, reflecting more business from customers and efforts to rein in costs. Hunt earned $84 million, or 70 cents per share, for the three months ended Dec. 31.
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Mad Money host Jim Cramer explains why railroads are so desperate for tank cars right now; and why Trinity and American Railcar are both buys.
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Jan 22- Kansas City Southern's quarterly profit beat Wall Street estimates on strong intermodal and automotive volumes, and the U.S. railroad company forecast 2013 revenue growth in the high-single digits.
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Jan 22- Kansas City Southern's quarterly profit beat Wall Street estimates, boosted by strong intermodal and automotive volumes, and the railroad company forecast 2013 revenue growth in the high-single digits.
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KANSAS CITY, Mo.-- Kansas City Southern's fourth-quarter profit fell 4 percent, but resurgent demand for autos helped the railroad operator top Wall Street expectations and shares jumped to an all-time high. Kansas City Southern shares gained $4.04, or 4.6 percent, to close at $91.67.
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Ebullient stock markets have so far this month encouraged around half a dozen firms in Europe to launch plans to float, seeking to raise more than $3 billion in the first few months of the year.
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MOSCOW, Jan 15- NefteTransService, one of Russia's biggest private freight rail operators, hopes to raise around $500 million via a London listing, sources said, that it will then use to expand into Ukraine and Kazakhstan as the markets open up to competition.
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NEW YORK, Jan 8- Phillips 66 said on Tuesday it entered a five-year commitment to ship North Dakotan crude oil by rail to its New Jersey refinery, making an estimated $1 billion bet that North American crude will remain cheap.
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*Zipcar shares rise 48 percent before the bell. Jan 2- Car rental company Avis Budget Group Inc will buy Zipcar Inc for about $500 million in cash to join larger rivals Hertz Global Holdings Inc and Enterprise Holdings Inc in the fast-growing U.S. car-sharing market. The offer of $12.25 per share represents a premium of 49 percent to Zipcar's Monday close.
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Jan 2- Car rental company Avis Budget Group Inc said it will buy Zipcar Inc for about $500 million in cash to enter the fast-growing U.S. car-sharing market. The offer of $12.25 per share is at a premium of 49 percent to Zipcar's Monday close.
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Jan 2- Car rental company Avis Budget Group Inc said it will buy U.S. car-sharing company Zipcar Inc for about $500 million in cash. The offer of $12.25 per share is at a premium of 49 percent to Zipcar's Monday close. Avis said it expects to complete the deal in the spring of 2013..
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First, NerdWallet tackled the job of simplifying personal finance. Now, they're trying to take some of the aggravation out of air travel with a new venture -- TravelNerd.
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HOUSTON, Dec 17- Two years on, a gusher of U.S. shale oil production is finally starting to seep into California, where refiners in the country's most isolated fuel market are waging an increasingly desperate battle to curb costs.
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TORONTO, Dec 5- Shares of Canadian Pacific Railway touched an all-time high on Wednesday as the railroad detailed a turnaround plan that includes sweeping job cuts which could save about C $500 million over the next four years.
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*Job cuts deeper than CP Railway estimated earlier. Dec 4- Canadian Pacific Railway Ltd, the country's second biggest rail carrier, said on Tuesday it would cut 4,500 jobs by 2016 as part of a drive by its new CEO to slash costs and improve its operating efficiency, now the industry's worst.
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*Kansas City Southern railroad leading charge. Over the past five years, Kansas City Southern has spent about $300 million to lay roughly 90 miles of new track in Texas, buy and update terminals in Mexico and make other network upgrades.