Road and Rail Railroads

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  • CHICAGO, July 21- Union Pacific Corp on Thursday reported a lower quarterly net profit that was hurt by falling freight volumes, especially coal, and warned the strong U.S. dollar, soft global economy and weak consumer demand would keep weighing on the No. 1 U.S. railroad's business in the second half of 2016.. The Omaha, Nebraska- based company said overall freight...

  • OMAHA, Neb.— Union Pacific's second-quarter profit fell 19 percent as the railroad hauled 11 percent less freight. The 14 analysts surveyed by Zacks Investment Research predicted earnings of $1.17 per share on average. Union Pacific said shipments slowed in every category except agricultural goods.

  • Singapore state investor Temasek will buy the 46 percent stake in SMRT that it does not already own for about $869.31 million.

  • RALEIGH, N.C.— CSX Corp. will build an intermodal cargo hub near the Virginia border in Edgecombe County after landowner opposition blocked the railroad company's first option, officials said Tuesday. North Carolina will spend about $100 million for track improvements and other transportation infrastructure, plus tax breaks worth up to $4 million.

  • CHICAGO, July 19- U.S regional railroad Kansas City Southern on Tuesday reported a higher-than-expected second-quarter profit, helped by cost cutting, but its freight volumes were flat and revenue fell more than analysts had forecast. Kansas City Southern reported a 13 percent decrease in operating expenses to $348.6 million from $399 million.

  • OMAHA, Neb.— CSX expects profit to decline for remainder of the year as freight volume slows and it plans further cost cuts to offset what the railroad's chief executive called a "challenging" environment. Chairman and CEO Michael Ward said the railroad expects to achieve $350 million worth of productivity improvements this year. CSX Corp. expects volume to...

  • WASHINGTON, July 13- U.S. regulators on Wednesday proposed a rule on trains carrying crude that requires railroads to share information on the shipments with local governments and emergency responders, a month after a fiery derailment of an oil train along Oregon's scenic Columbia River gorge. The rule proposed by the Transportation Department's Pipeline...

  • WASHINGTON— Railroads hauling crude oil would be required to develop comprehensive plans for dealing with a significant oil spill, including providing detailed information to state and tribal authorities, under a rule proposed Wednesday by the Department of Transportation. Last month, a Union Pacific Railroad oil train derailed in the scenic Columbia...

  • CHICAGO, July 13- CSX Corp, the third-largest U.S. railroad, on Wednesday posted a lower second-quarter net profit that beat expectations as lower costs partly offset a 34 percent drop in coal volumes. The railroad's shares rose more than 4 percent on the news which came before the market closed. On Wednesday the Association of American Railroads said that...

  • CSX CEO talks earnings, coal

    Michael Ward, CSX Corporation Chairman & CEO, discusses the company's earnings release and how the price of coal is affecting the rail operator.

  • CHICAGO, July 13- CSX Corp, the third-largest U.S. railroad, on Wednesday posted a lower second-quarter net profit that beat expectations as lower costs partly offset a 34 percent drop in coal volumes. On Wednesday the Association of American Railroads said that year-to-date through July 9, freight on all U.S. railroads was down 7.7 percent from the same period in...

  • CHICAGO, July 13- CSX Corp, the third-largest U.S. railroad, on Wednesday reported a lower second-quarter net profit, driven by an overall decline in freight volumes of 9 percent. The Jacksonville, Florida- based company posted net income of $445 million, or 47 cents per share, down nearly 20 percent from $553 million, or 56 cents per share, a year earlier.

  • JACKSONVILLE, Fla. _ CSX Corp. on Wednesday reported second-quarter profit of $445 million. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share. Six analysts surveyed by Zacks expected $2.71 billion.

  • OMAHA, Neb.— CSX Corp. reported a nearly 20 percent drop in second-quarter profit as freight volume slowed 9 percent, but the railroad beat expectations by cutting expenses and raising rates where it could. The Jacksonville, Florida- based railroad said Wednesday it earned $445 million, or 47 cents per share, in the quarter. Coal shipments fell 34 percent, extending...

  • Just over 10,300 stronger tank cars mandated by the new rules are available for service, according to figures obtained by The Associated Press from the Association of American Railroads. Fiery accidents and spills involving the older, rupture-prone cars have occurred in Oregon, Montana, North Dakota, Illinois, West Virginia and Canada. During the most recent...

  • BEIJING, June 29- China's rail freight volume fell 7.7 percent in the first five months of 2016 from a year earlier to 1.32 billion tonnes, the country's top economic planner said late on Tuesday.

  • A Canadian Pacific Railway freight train in Alberta, Canada.

    Canadian Pacific Railway fell more than 2 percent after the company announced weak second-quarter guidance.

  • Cramer's Stop Trading: Canadian Pacific

    CNBC's Jim Cramer explains why he is watching Canadian Pacific.

  • Cashing in on the canal

    CNBC's Mary Thompson reports from Panama on the new lane opening on the Panama Canal for even larger container ships to pass through.

  • Panama Canal opens wider lane

    CNBC's Mary Thompson reports on the new lane at the Panama Canal, which is re-configuring global trade which is expected to pay off for railroads.