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Jul 23, 2015

Union Pacific profit hit by lower freight volumes, shares drop

CHICAGO (Reuters) – No. 1 U.S. railroad Union Pacific Corp (UNP.N: Quote, Profile, Research, Stock Buzz) reported a lower quarterly net profit on Thursday as freight volumes dropped 6 percent, sending shares down more than 2 percent in early trading.

Still, profit beat expectations, thanks to higher freight rates charged to customers.

Jul 23, 2015

Union Pacific profit falls on lower freight, primarily coal

CHICAGO, July 23 (Reuters) – No. 1 U.S. railroad Union
Pacific Corp on Thursday reported a lower quarterly net
profit due to a 6 percent drop in freight volumes led by a sharp
decline in coal shipments, but which came in above market
expectations.

All of the major U.S. railroads have been hit by lower coal
freight volumes as power plants have shifted more to burning
cheap natural gas amid low energy prices. Coal exports have also
been hurt by the strong U.S. dollar, which have made the
commodity less competitive against foreign coal producers.

Jul 22, 2015

UPS in talks to buy Coyote Logistics for at least $1.8 billion: source

CHICAGO/NEW YORK (Reuters) – Package delivery United Parcel Service Inc (UPS.N: Quote, Profile, Research, Stock Buzz) is in talks to buy Chicago-based Coyote Logistics LLC for at least $1.8 billion, a source familiar with negotiations said on Wednesday.

According to the source, Coyote is backed by Warburg Pincus, the New York-based private equity firm, which may instead opt for an initial public offering as a way to sell its stake in the transportation logistics services provider.

Jul 17, 2015

Falling coal, grain shipments hurt Kansas City Southern profit

CHICAGO, July 17 (Reuters) – Regional U.S. railroad Kansas
City Southern on Friday reported a lower quarterly net
profit, hurt by falling coal shipments in particular as
shipments declined almost across the board.

All the major U.S. railroads have seen their coal business
hurt this year as power plants have shifted to burning cheaper
natural gas. Coal exports have been hurt by the strong U.S.
dollar.

Jul 15, 2015

CSX CEO sees price growth in rest of 2015 and into 2016

CHICAGO (Reuters) – CSX Corp, the No. 3 U.S. railroad, expects to see strong train cargo price growth into next year, offsetting anticipated declines in coal and crude oil freight volumes, the company’s top executive said on Wednesday.

“We see strong pricing (growth) for the remainder of the second half (of this year) and into 2016,” Chief Executive Michael Ward told Reuters in a telephone interview.

Jul 15, 2015

CSX sees third-quarter EPS flat despite 15 percent coal freight drop

CHICAGO (Reuters) – CSX Corp (CSX.N: Quote, Profile, Research, Stock Buzz), the No. 3 U.S. railroad, said it expects earnings per share to be flat in the third quarter compared with the same period last year, despite an expected drop in coal freight volumes of 15 percent.

Like all the major railroads, CSX has experienced a sharp drop in coal shipment this year as power plants have shifted to burning cheaper natural gas. Coal exports have also been hurt by the strong U.S. dollar.

Jul 15, 2015

CSX sees Q3 EPS flat despite 15 pct coal freight drop

CHICAGO, July 15 (Reuters) – SX Corp, the No. 3 U.S.
railroad, said it expects earnings per share to be flat in the
third quarter compared with the same period last year, despite
an expected drop in coal freight volumes of 15 percent.

Like all the major railroads, CSX has experienced a sharp
drop in coal shipment this year as power plants have shifted to
burning cheaper natural gas. Coal exports have also been hurt by
the strong U.S. dollar.

Jul 14, 2015

CSX beats profit forecast on cheaper fuel, productivity

CHICAGO (Reuters) – No. 3 U.S. railroad CSX Corp (CSX.N: Quote, Profile, Research, Stock Buzz) on Tuesday reported a higher quarterly net profit, beating forecasts as productivity gains and lower fuel prices offset a drop in coal volumes that took a bite out of revenue.

CSX shares jumped more than 3 percent in after-market trading, as the company also largely maintained its earnings outlook for the year despite the hit to its coal business.

Jul 14, 2015

North American railroads bet on U.S. consumers for a lift

CHICAGO/TORONTO (Reuters) – North American railroads are pinning their hopes for a second-half recovery on American shoppers as they prepare to release what analysts expect will be dreary second-quarter results.

No. 3 U.S. railroad CSX Corp (CSX.N: Quote, Profile, Research, Stock Buzz) kicks off earnings season for the railroads after the market closes Tuesday. Analysts are forecasting CSX will report 53 cents per share, unchanged from the second quarter of 2014. Earlier this year, CSX told investors it expected double-digit percentage earnings growth this year, then in April told shareholders to expect single-digit percentage growth.

Jul 10, 2015

Insight – Walmart suppliers grapple with challenge of ‘Made in USA’ labels

, (Reuters) – Detroit Quality Brushes is a company that does just what its name suggests: It makes high quality brushes in Detroit.

Years ago, the company had 18 competitors in the United States. Today, there are only three left, says John Avgoustis, head of marketing and sales.

    • About Nick

      "Nick Carey is a Chicago-based, British-born journalist who has covered everything from the near-collapse of the Big Three automakers to the U.S. housing crisis. Nick is currently on general assignment, reporting on the human impact of the recession. He previously spent ten years working in central and eastern Europe."
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