CSX No Fluke; Intel Moves Chip Stocks After Hours
CNBC "On-Air Stocks" Editor
CSX was not a fluke: after the close Dow Transports component Expeditors International said Q2 earnings will fall within $0.38-$0.40, above consensus of $0.30. EXPD is a freight forwarder: they buy air and cargo space on big volume and then resell it to customers.
CEO Peter J. Rose said, "We've experienced very significant year-over-year volume increases in both our airfreight and ocean freight business." However, he cautioned that "we think it is `still premature to extrapolate these preliminary results of the second quarter over the entire of 2010."
They will release earnings on August 3rd.
Elsewhere, semiconductors are up (AMD,TXN) as Intel reported earnings well above expectationsand more importantly raised 2010 gross margin view. INTC up about 5 percent after hours.
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