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U.S. railroad CSX posted a better-than-expected profit Tuesday, citing higher revenue per carload that offset lower freight volumes. The company reported third-quarter net income of $407 million, or 91 cents per share, compared with $328 million, or 71 cents per share, a year earlier.
How much oil pressure can the stock market take before it blows a gasket? Oil continues to surge into record territory, closing in on $88 per barrel and ready to pump right through $90. Stocks are floundering this morning after weakness in Europe and a down day in Asia. China, though, continues to be the exception with Shanghai stocks once more in record territory.
The Children's Investment Fund, a $15 billion activist hedge fund that owns 4.1 percent of the railroad CSX, has fired the first shot in what could be a long battle over what it contends is the poor management at the company and its less-than-stellar corporate governance.
By the end of the coming week, the corporate earnings picture will be clear and it may not necessarily be one the stock market likes.
The buzz on the street on this morning is "earnings", says Scott Fullman, director of investment strategy for IA Englander & Co.
Best Buy, Under Armour, Wynn Resorts and more...Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Just because the rails business has already enjoyed a good run doesn’t mean you still can’t make some money. Here is Cramer’s second pick for playing the sector.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Warren Buffett isn’t the only one interested in railroads. Activist shareholders are eyeing railroad operator CSX, which could be contributing to Wednesday’s surge in the stock, CNBC’s David Faber reported.
Warren Buffett's Berkshire Hathaway has bought large stakes in two other North American railroad companies besides Burlington Northern Santa Fe, CNBC's Liz Claman has learned. Berkshire recently acquired a 10.9% stake in Burlington Northern Santa Fe , becoming the railroad company's largest shareholder.
Thomas Wadewitz, transportation analyst at JP Morgan Chase, told CNBC’s “Morning Call” that railroads should be able to increase rates, making the sector attractive to investors.
Cramer continues his list of the top 10 potential anti-competitive deals coming before 2008.
U.S. railroad CSX said that its quarterly net profit rose, citing strong pricing for its freight services.