SA's Wall Street Breakfast: The rising sun
SEEKING ALPHA reports: It took over 34 years, but trading floors across Tokyo today erupted in ...
SEEKING ALPHA reports:
CSX Corp. (NASDAQ:CSX) stock rode higher on Thursday after reporting a strong second quarter earnings that added to optimism on Wall Street.
For the second quarter, the Florida-based railroad posted 27.8% growth in revenue from the year prior and also pushed past profit expectations while improving efficiency from the first quarter. Additionally, management remained bullish on the prospects for a coming inflection point for the rail industry due in the coming months.
After the results, Loop Capital analyst Rick Paterson advised clients the stock is an attractive option for investors. Paterson raised his rating on the stock to “Buy” from “Hold” held prior to the quarterly report.
“CSX, and the rest of the railroads, should be good places to park some money in the event of economic softness in 2023…”
To read the full post, please click here. Stock up 4% to $30.9 at 12:37 EST.
Carriers still need another 400,000 teu to maintain services
CMA CGM commits to no job cuts for a year, following Bolloré deal
Transpacific freight rates – it’s all about 'who blinks first'
Hapag-Lloyd in choppy water as volatile market sinks profits
Stock sinks, losses mount and guidance weighs heavy for Zim
Rate hikes eclipse Red Sea diversion costs, boosting carrier profits
Alex Lennane
email: [email protected]
mobile: +44 7879 334 389
During August 2023, please contact
Alex Whiteman
email: [email protected]
Alessandro Pasetti
email: [email protected]
mobile: +44 7402 255 512
Comment on this article