Energy industry leaders at CERAWeek are sizing up new federal safety guidelines for rail shippers to figure out if they are on track.» Read More
NEW YORK, Feb 13- A 120- car Norfolk Southern Corp train carrying heavy Canadian crude oil derailed and spilled in western Pennsylvania on Thursday, adding to a string of recent accidents that have prompted calls for stronger safety standards.
WASHINGTON, Feb 13- A federal investigator was headed to the scene of the derailment of a Norfolk Southern Corp train carrying crude oil in western Pennsylvania, the Federal Railroad Administration said on Thursday.
NEW YORK, Feb 13- A Norfolk Southern Corp train carrying crude oil derailed in Vandergrift in western Pennsylvania on Thursday, the company confirmed. The train, that was heading from Pittsburgh to Philadelphia, was mainly carrying crude oil but included one car containing propane gas, a Norfolk Southern spokesman said.
LONDON, Jan 27- In the event of a mass-casualty accident involving the derailment of a crude-carrying train in a densely populated urban area, who would be responsible for the compensation for deaths, injuries, damage to property and environmental clean up?
On Wall Street, IBM missed revenue expectations for a fourth straight quarter, driving down shares of the world's largest technology services company by nearly 4 percent, making them the biggest drag on the market.
Norfolk Southern CEO Wick Moorman says his company continues to run a "very good railroad," and discusses how "people and technology" have helped boost efficiency.
*IBM shares fall on weak revenue, pressuring Dow. International Business Machines Corp lost 3.5 percent to $181.88, the biggest drag on both the Dow and S&P 500, after the tech giant missed revenue expectations for a fourth straight quarter amid weakening demand, particularly in growth markets like China.
NEW YORK, Jan 22- U.S. stocks were little changed on Wednesday, as investors played off a mixed bag of company earnings, while the dollar held steady against most major currencies ahead of next week's Federal Reserve meeting, where another cut in stimulus is seen possible.
Jan 22- Norfolk Southern Corp on Wednesday reported a 24 percent increase in fourth-quarter earnings, beating Wall Street's expectations, as strong chemicals, construction materials and auto shipments more than offset a dip in coal volumes. Norfolk Southern said it worked on reigning in costs throughout the year.
*Sterling hits highest in year vs euro after UK data. European assets grabbed the spotlight, with sterling hitting a three-week high against the dollar and a one-year high against the euro on hints of an impending UK rate hike. On Wall Street, the S&P 500 and Dow were down, while the tech-heavy Nasdaq rose.
*IBM, Coach fall after earnings. IBM shares lost 3.3 percent to $182.24 and were the biggest drag on both the Dow and S&P 500 indexes. Norfolk Southern Corp jumped 6.4 percent to $94.39 as one of the best performers on the S&P 500. The railroad posted a 24 percent rise in quarterly income that beat Wall Street expectations.
Some of the names on the move ahead of the open.
Stocks could feel a few more jolts in the coming week, as earnings season trumps just about everything else.
With uncertainty rampant in the market, pros will be watching earnings very closely. Which results matter most to Cramer?
Jan 15- CSX on Wednesday posted a fourth-quarter profit that fell short of Wall Street's estimates as rising shipments of chemicals, autos and agricultural products failed to make up for weak coal volumes.
Jan 15- CSX Corp posted a smaller fourth-quarter profit that missed Wall Street estimates by a cent, as coal volumes stayed weak and its shares fell 3 percent. Coal shipments have been a problem for CSX and its competitor Norfolk Southern as the shift to natural gas caused utility coal stockpiles to surge as demand for coal from power producers declined.
U.S. stock index futures signalled a higher opening after a strong Tuesday trading day.
LONDON, Jan 9- Train accidents involving crude oil and other flammable liquids are becoming uncomfortably common. The fiery train derailment in New Brunswick on Tuesday is the third major accident involving crude by rail in just three months, and the fourth since July 2013.
Some stock market professionals seem to be attracted to a particular type of stock in the new year, and offered their top picks for 2014.
Financials and industrials should become investors' best bets in 2014 as the country's employment picture brightens, CNBC's Jim Cramer says.