Union Pacific Eyes Norfolk Southern Deal
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The Score is a weekly review of the biggest stock moves and the news that drove them. The U.S. may be getting closer to a transcontinental railroad. Railroad operator Union Pacific is holding talks to acquire its smaller rival Norfolk Southern, The Wall Street Journal reported Thursday.
A late-in-the-game demand by Norfolk Southern railroad is hiking the price of an already over-budget rail yard the South Carolina State Ports Authority is building to support cargo shipments through the Port of Charleston.
Norfolk Southern’s decision to vent and burn five tank cars of vinyl chloride following the 2023 train derailment is the center of the most recent lawsuit filed against the railroad by residents who lived through the rail disaster.
Second-quarter profit jumps 46% at Netflix, a report says Union Pacific is in early-stage talks to buy smaller railroad rival Norfolk Southern, and earnings at Interactive Brokers get a boost from trading activity.
The rails sector was jolted on Thursday by a report that Union Pacific (NYSE:UNP) has reportedly taken steps toward exploring a major acquisition of either CSX Corporation (NASDAQ:CSX) or Norfolk Southern (NYSE:NSC).
A whistleblower group claims the EPA collaborated with Norfolk Southern to manipulate soil testing data following the East Palestine train derailment.