CHICAGO, Jan 27 (Reuters) – U.S. Steel Corp on Tuesday
warned that low oil prices and the strong U.S. dollar could
negatively impact its business in 2015 but said the potential
for U.S. higher consumer spending could help lift demand.
The Pittsburgh-based company gave its assessment of what it
called a “volatile market” in 2015 as it reported a lower fourth
quarter net profit that was hurt by falling steel prices and the
strong U.S. dollar. But the company’s earnings came in well
above market expectations and sent its stock up nearly 9 percent
in aftermarket trading.
CHICAGO, Jan 27 (Reuters) – Caterpillar Inc on
Tuesday warned the recent fall in oil prices would hurt its
energy equipment business in 2015 and gave an outlook for the
year below market expectations after posting a disappointing
fourth quarter net profit.
The report sent the company’s shares down nearly 8 percent
in premarket trading.
CHICAGO, Jan 26 (Reuters) – Norfolk Southern Corp,
the No. 4 U.S. railroad, expects a solid U.S. economy to boost
its business in 2015 but said on Monday it was too early to
gauge the overall impact of lower energy prices.
“We feel good about the state of the economy,” Chief
Executive Officer Wick Moorman told Reuters after the company
reported fourth-quarter earning that largely met market
expectations. “But what many people are trying to understand is
the impact of lower oil prices.”
CHICAGO, Jan 23 (Reuters) – Package delivery company United
Parcel Service Inc on Friday said its fourth-quarter
performance was hurt by higher-than-expected costs from the U.S.
holiday season and that it will likely raise prices during the
next peak season.
The world’s largest package delivery company said as a
result, its fourth-quarter earnings per share would come in
below its own forecast as well as market expectations. UPS cited
a disappointing performance in U.S. domestic ground shipments.
CHICAGO, Jan 22 (Reuters) – No. 1 U.S. railroad Union
Pacific Corp reported a jump in quarterly profit
Thursday that beat analyst estimates as a growing economy lifted
freight volumes and higher freight rates boosted revenue.
Shares of the company were up 4 percent in light premarket
Still, the company sounded a note of caution on the outlook
for the U.S. economy amid uncertainties following a significant
drop in oil prices over the past several months.
CHICAGO (Reuters) – Falling oil prices should benefit U.S. consumers and railroad customers, and be good for rail business in the months ahead, the chief executive of No. 3 U.S. railroad CSX Corp (CSX.N: Quote, Profile, Research) said on Wednesday.
“By and large, this (lower oil prices) is a good thing for the economy, for CSX and for our customers,” Michael Ward told Reuters in an interview. “It will put more money in consumers’ pockets and we will pass on less in fuel surcharges to our customers, which will put more money in theirs.”
CHICAGO, Jan 13 (Reuters) – CSX Corp, the
third-largest U.S. railroad, on Tuesday reported a higher
quarterly profit that was in line with analyst expectations and
said it expected a strong increase in its freight business and
double-digit earnings growth during 2015.
CSX’s fourth-quarter profit rose on the back of an 11
percent rise in coal shipments, a 5 increase in intermodal and 5
percent for its “merchandise” shipments that include
agricultural, chemical and construction products. The railroad
reported a 6 percent rise in revenue for all three business
CHICAGO, Jan 12 (Reuters) – Metals company Alcoa Inc
on Monday reported higher-than-expected quarterly profit,
swinging from a year-earlier loss due to a boost from automotive
demand, higher aluminum prices and lower energy costs.
Alcoa also forecast solid demand this year for its aerospace
and automotive products.
CHICAGO, Jan 12 (Reuters) – U.S. bus companies continued to
add daily scheduled routes linking cities around the country in
2014 with a 2.1 percent increase, while airline flights fell 3.5
percent, according to a study released on Monday.
According to the study by the Chaddick Institute for
Metropolitan Development at DePaul University in Chicago, bus
companies introduced new luxury-oriented services and expanded
their national networks to capitalize on rising demand for
short- and long-distance trips. Bus travel-booking websites like
Wanderu and Busbud also contributed to a rise in interest.
CHICAGO (Reuters) – United Parcel Service Inc (UPS.N: Quote, Profile, Research, Stock Buzz) and FedEx Corp (FDX.N: Quote, Profile, Research, Stock Buzz) are rolling out new pricing systems to curb online retailers’ large package sizes, but industry experts warn many small firms are unprepared and could pay up to 50 percent more for shipping.
Starting Monday, UPS will no longer charge for U.S. ground packages under 3 cubic feet by weight but by their “dimensional weight.”