DIRS.INFO The most relevant business & tech news

☆ Stocks making the biggest moves midday: Planet Fitness, AMC, Airbnb, Roblox and more
▼ + stars: | 2024-05-09 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Arm — Shares of British chip designer fell 1% in volatile trading after the company issued revenue guidance that left investors unimpressed. Airbnb said revenue in its second quarter total $2.68 billion to $2.74 billion, while analysts were expecting $2.74 billion, according to LSEG. AppLovin — The mobile technology company soared 19% on the heels of better-than-expected first quarter earnings . Warby lost 2 cents a share, narrower than the consensus forecast of 9 cents per share from analysts surveyed by FactSet. Cheesecake Factory — Shares rallied nearly 9% after the chain's first quarter earnings beat estimates.

Persons: FactSet, Forthe, Klaviyo, Airbnb, AppLovin, AMC's financials, Duolingo, —, Warby Parker, Warby, Kate Spade, Roblox, That's, Raymond James, Ancora, Alan Shaw, Equinix, amortization, Charles Meyers, Samantha Subin, Yun Li, Jesse Pound, Sarah Min, Hakyung Kim, Tanaya Macheel, Michelle Fox, Scott Schnipper Organizations: LSEG, LSEG . Revenue, AMC Entertainment, Revenue, FactSet . Revenue, FactSet, Leadership, JPMorgan, Norfolk Southern, postmarket Locations: The Virginia

☆ Stocks making the biggest moves midday: Boeing, Norfolk Southern, Nvidia & more
▼ + stars: | 2024-04-09 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

BlackBerry — BlackBerry shares popped more than 9% after the company announced a partnership with Advanced Micro Devices on robotics systems. Neogen Corp — The food safety stock shed 9% after the company reported a surprise loss of 1 cent per share. The company also trimmed its previous guidance, saying it now expects revenue to range between $920 million and $910 million for the full year. Norfolk Southern announced that it reached a $600 million settlement related to its derailment in East Palestine. Nvidia — Shares fell more than 2%, putting the chipmaker on track for its fifth losing session in six.

Persons: Tilray, FactSet, Goldman Sachs, Molson Coors, Molson, — CNBC's Michelle Fox, Sarah Min, Pia Singh, Yun Li Organizations: Moderna, Reuters, Merck, Boeing, New York Times, Google, American Eagle Outfitters, JPMorgan, Eagle Outfitters, Bank of America, EV, Molson, Pfizer, Neogen Corp, Norfolk Southern, Nvidia —, Netflix Locations: East Palestine

☆ Norfolk Southern activist investor highlights past abusive behavior of new COO as proxy fight intensifies
▼ + stars: | 2024-04-05 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +6 min

Last month, Norfolk Southern hired Orr away from rival CPKC, paying tens of millions of dollars to buy him out of his contract. A witness told the arbitrator that, in one instance, Orr told the employee that she "was so f------ stupid it was embarrassing." Prior to the announced hiring of Orr, Ancora drew attention to claims about his behavior in emails to two Norfolk Southern board members that CNBC obtained. Norfolk Southern told CNBC in a statement that Ancora's analysis of the value of the route — the Meridian Speedway agreement — "is completely inaccurate and based on a flawed premise," in that it assumes Norfolk Southern is forgoing more revenue than it actually is. Regarding Orr, Norfolk Southern said he has a "track record of improving performance while operating safely and with integrity."

Persons: Ancora, Alan Shaw, John Orr, Orr, Jim Barber, Jamie Boychuk, Shaw, John, Mr, Neuberger Berman, Gordon Haskett, Don Bilson, it's, isn't Organizations: Norfolk Southern, Getty Images, Wall, Canadian National, Canadian, CNBC, Norfolk, Meridian, CSX, Longacre Square Partners, Barclays Locations: Atlanta , Georgia, Getty Images Norfolk, Norfolk, Norfolk Southern, U.S, Orr, East Palestine , Ohio

☆ CSX completes first diverted cargo shipments on new rail line for Port of Baltimore
▼ + stars: | 2024-04-04 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

Just days after CSX announced a new rail line in response to the Port of Baltimore closure, the Baltimore-bound containers that were diverted to the Port of New York and New Jersey are back being unloaded in Baltimore. CSX started discussions last week with Ports America to see how it could effectively move the diverted cargo. The train route moving the diverted cargo includes Chicago; Kearney, New Jersey; and Baltimore. Norfolk is in discussions with Ports America to extend this service directly on-dock at their Seagirt Intermodal Container Transfer Facility. As the Port of Baltimore crisis unfolded, many major ocean carriers invoked contract clauses transferring responsibility for transportation of cargo from diverted ports to shipping clients.

Persons: Mark Schmidt, Schmidt, Scott Cowan Organizations: CSX, Port, Ports, Canada, Plan Investment Board, Ports America, Norfolk Southern, Elizabeth Marine, Norfolk Southern's Triple Crown Services, International Longshoremen's Association, Baltimore Locations: Baltimore, of New York, New Jersey, Ports America, North, Chicago, Kearney , New Jersey, Norfolk, New York, Wilmington, Newark, Elizabeth , New Jersey, Port of New York, North America, Port of Baltimore, East Coast, Gulf, U.S, , Puerto Rico, Eastern Canada

☆ Jim Cramer shares his thoughts on 3M, AT&T, Devon Energy, Deckers Outdoor, On Holding and J.B. Hunt
▼ + stars: | 2024-04-01 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +1 min

"A lot of people like the actual new 3M," Jim Cramer said, while referring to the company's years of litigation fights. "This is CrowdStrike and Palo Alto. Buy some Palo Alto on this. The CNBC Investing Club owns shares of Palo Alto Networks. The Club owns Coterra.

Persons: Jim Cramer's, Jim Cramer, Cramer, I'm, they've, J.B, Robinson Organizations: CNBC, Club, Palo Alto, CNBC Investing Club, Palo Alto Networks, Devon Energy, Wells, The, Skechers, Barclays, Hunt Transport Services, C.H, Werner Enterprises Locations: Palo, Alto, Devon, Skechers USA, Norfolk Southern

The collision of three Norfolk Southern trains in Pennsylvania early this month highlights the shortcomings of the automated braking system that was created to prevent such crashes. Not only was the system incapable of stopping the second train before it smashed into the back of a stopped train, but it also couldn't stop the third train. Congress required railroads to develop the positive train control system after a deadly 2008 collision between a Metrolink commuter train and a Union Pacific freight train in Chatsworth, California. Norfolk Southern's safety practices have been in the spotlight since one of its trains derailed in East Palestine, Ohio, in February 2023. The report also didn't say whether there were any curves or hills that made it hard for the crew to see the stopped train.

Persons: Chris Barkan, Keith Holloway Organizations: Norfolk Southern, National Transportation Safety, “ PTC, Union Pacific, Metrolink, NTSB, Rail Transportation, Engineering Center, University of Illinois Locations: Pennsylvania, Chatsworth , California, Lower Saucon Township, Lehigh, Atlanta, Norfolk, East Palestine , Ohio, Urbana, Champaign

☆ Norfolk Southern proxy fight draws heavyweight politicians and regulatory scrutiny a year after derailment
▼ + stars: | 2024-02-27 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +12 min

Norfolk Southern' has underperformed both its peers and the broader market over the last year. Norfolk Southern responded on Monday, rejecting that slate and announcing it would nominate former Amtrak CEO Richard Anderson and former U.S. For Ancora, which has a successful track record as an activist investor, the proxy fight at Norfolk Southern would be its largest ever. EdgePoint controlled 3.4 million Norfolk Southern shares as of Dec. 31, or about 1.5% of shares outstanding. Norfolk Southern has yet to set a date for the annual shareholder meeting.

Persons: Alan Shaw, Norfolk Southern Scott Mlyn, John Kasich, Donald Trump, Ancora, Shaw, Jim Barber, Jamie Boychuk, Richard Anderson, North Dakota Heidi Heitkamp, Heitkamp, Anderson, Frank Blake, Matt Freed, Joe Biden, Biden, Trump, it's, there's, Ancora's, Hunter Harrison, Norfolk Southern, Martin Oberman, Oberman, Amit Bose, Bose, Jim Chadwick, Chadwick, Ancora beneficially, Barber, Boychuk, Harrison, Mandel Ngan, Ancora's Chadwick, Amy Miles, Miles, Claude Mongeau, CNBC's Leslie Picker, Heidi Heitkamp Organizations: Norfolk Southern, CNBC, Norfolk, Ancora Advisors, EdgePoint Investment Group, Republican, Amtrak, Delta Airlines, Cargill, Home Depot, U.S, Energy, Workers, East, Trump, Biden, Southern, PSR, Federal Railroad Administration, Surface Transportation, Federal, UPS, Teamsters, Canadian, . Norfolk Southern, CSX, Deutsche Bank, AFP, Getty Locations: Norfolk Southern, East Palestine , Ohio, Ohio, Norfolk, North Dakota, Medtronic, East Palestine, Cleveland, Ancora

☆ Stocks making the biggest moves premarket: Nvidia, SolarEdge, Teladoc, Palo Alto Networks and more
▼ + stars: | 2024-02-21 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

SolarEdge Technologies — Shares dropped more than 20% after the company posted mixed quarterly results. However, revenue guidance for the first quarter was well below analyst expectations . Teladoc — Shares dropped 20% the morning after the online health-care company posted worse-than-expected revenue and guidance. The company posted a loss of 17 cents per share, smaller than the 21-cent figure anticipated by analysts surveyed. Palo Alto Networks topped earnings and revenue expectations for the recent quarter, but said it anticipates slower growth for the full year.

Persons: Teladoc, RingCentral, LSEG, Brandon Oglenski, Alan Shaw, HSBC's, Noel Quinn, Wingstop, — CNBC's Michelle Fox, Alexander Harring, Fred Imbert, Sarah Min, Jesse Pound, Samantha Subin Organizations: Nvidia, SolarEdge, LSEG, Palo Alto Networks, Alto Networks, Toll, JPMorgan, Norfolk Southern, Barclays, Amazon, Dow Jones, Walgreens, Alliance, HSBC —, Wall Street, FactSet Locations: Palo, billings

☆ Stocks making the biggest moves midday: Nvidia, SolarEdge, Teladoc, Wingstop and more
▼ + stars: | 2024-02-21 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

First-quarter revenue is expected to be $175 million to $215 million, far below the $406 million forecast. Teladoc posted $661 million in revenue, below the $671 million consensus forecast from LSEG, formerly known as Refinitiv. Wingstop — The restaurant chain slipped 4% despite reporting fourth-quarter earnings and revenue that topped analysts' estimates. However, total revenue growth came down for the fourth consecutive quarter. Wix.com reported fourth-quarter earnings of $1.22 per share, more than the consensus estimate from StreetAccount of earnings of 96 cents per share.

Persons: SolarEdge, Teladoc, Alan Shaw, —, Dow, Wingstop, Wix.com, CNBC's Hakyung Kim, Michelle Fox, Lisa Kailai Han, Jesse Pound, Samantha Subin, Yun Li, Sarah Min Organizations: Nvidia, Wall, Palo Alto Networks, Toll, Norfolk Southern, Barclays, Walgreen Boots, Dow Jones, Walgreens, Alliance, Dow Jones Industrial, Walgreens Boots Alliance, HSBC —, HSBC, Bank of Communications, Garmin —, Garmin Locations: Palo, billings, LSEG, U.S, China

☆ Stocks making the biggest moves midday: Peloton, Honeywell, Norfolk Southern, Boot Barn and more
▼ + stars: | 2024-02-01 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Meanwhile, analysts polled by LSEG, formerly known as Refinitiv, forecast earnings of 81 cents per share and $4.34 billion in revenue. Peloton — Shares fell more than 23% on the back of the company's bleak outlook for the current quarter and full-year sales. Peloton is forecasting sales to come in between $700 million and $725 million for the quarter. Analysts polled by LSEG expected revenue of $9.70 billion. Adjusted earnings per share came in at $2.10 versus the $1.66 expected from analysts polled by StreetAccount.

Persons: Robinson, Nextracker, Wolfspeed, MaxLinear, Qorvo, TD Cowen, Gabe Daoud Jr, — CNBC's Pia Singh, Lisa Kailai Han, Jesse Pound, Hakyung Kim, Spencer Kimball, Scott Schnipper Organizations: LSEG, —, Honeywell, New York Community Bank, Regional Banking, Western Alliance, T Bank, Norfolk Southern, Ancora Holdings, Street Journal, Merck —, Merck, FactSet, StreetAccount, Revenue, Qualcomm, Citi

☆ Stocks making the biggest moves premarket: Qualcomm, Merck, General Motors and more
▼ + stars: | 2024-02-01 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

The stock is trading at a low multiple compared to spending, the firm highlighted as a key catalyst for investors. Nextracker — Shares of the solar technology company jumped 17% on bullish analyst notes following its strong quarterly results and guidance increase. Wolfspeed guided for fiscal third-quarter revenue of $185 million to $215 million, below the $224 million, LSEG estimate. Robinson reported 50 cents per share in adjusted earnings, while analysts expected 81 cents per share, per LSEG. The company reported $9.44 billion in revenue, while analysts surveyed by LSEG were looking for $9.70 billion.

Persons: Christopher Danely, Morgan Stanley, Nextracker, Wolfspeed, TD Cowen, ChargePoint, C.H, Robinson, Merck, company's, —, Alex Harring, Lisa Kailai Han, Tanaya Macheel, Jesse Pound, Michelle Fox Theobald Organizations: Qualcomm, Citi, General Motors, General, Barclays, Bank of America, Revenue, Merck, Japanese, Honeywell, LSEG, Norfolk Southern, Ancora Holdings, Wall Street Journal Locations: Norfolk Southern

The Atlanta-based railroad said it earned $527 million, or $2.32 per share, during the quarter. Without the $150 million in additional derailment costs, Norfolk Southern would have made $677 million, or $2.83 per share. The analysts surveyed by FactSet Research predicted that Norfolk Southern would make $2.86 per share, so the results fell just short of that. Norfolk Southern has now received $101 million of insurance payments. “The fourth quarter marked the end of a challenging, yet transformational year for Norfolk Southern,” Shaw said.

Persons: haven't, Alan Shaw, he’s, “, ” Shaw, FactSet Organizations: Norfolk, FactSet Research, Norfolk Southern Locations: Ohio, Atlanta, Norfolk Southern, East Palestine, Pennsylvania

☆ Goldman breaks down the laggard trade and gives its comeback picks for first quarter 2024
▼ + stars: | 2023-12-05 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Today's market-leading stocks may not have the luxury to sit on their laurels, according to Goldman Sachs. Since Goldman Sachs began tracking the "Laggards" trade in 2022, the trend has held up 13 years out of 21, according to Mehta. The laggards have on average outperformed the S & P 500 by 130 basis points. The first, "differentiated buys," includes opportunities where Goldman Sachs analysts have out-of-consensus buy ratings. Finally, Goldman Sachs analysts also identified stocks with a "track record of CROCI [cash return on capital invested] generation," a metric that evaluates a company's cash return against its total equity.

Persons: Goldman Sachs, there's, Deep Mehta, Mehta, Laggards, laggards, Locker, — CNBC's Michael Bloom Organizations: Financial, Barclays, Mosaic, CF Industries, Clear, Chesapeake Energy, Shoals Technologies, Biomarin Pharmaceutical, Body Works, Mohawk Industries, Bristol, Myers Squibb, Honeywell International, United Parcel Service Locations: . Norfolk Southern, Bath

☆ Stocks making the biggest moves midday: Tesla, Disney, Alibaba, Ulta Beauty and more
▼ + stars: | 2023-12-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Ulta Beauty — The beauty stock rallied nearly 11% after posting third-quarter results that surpassed analysts' estimates. Samsara — Samsara shares popped 16% after the cloud company posted better-than-expected quarterly results and shared stronger-than-expected guidance. The chip company posted third-quarter earnings that topped Wall Street's estimates but shared weaker-than-expected guidance for the current quarter. Ambarella — Shares slipped 1% after Ambarella reported third-quarter gross margins of 62.6%, down from 63.5% in the year-ago period. Otherwise, the semiconductor design company posted quarterly results that topped estimates.

Persons: Tesla, Nelson Peltz, Alibaba, Morgan Stanley, Wells, Dell, Altimmune, Ambarella, Jefferies, Yun Li, Michelle Fox, Sarah Min, Alex Harring, Brian Evans, Jesse Pound Organizations: Disney — Disney, Trian Fund Management, Pfizer, Paramount Global, Street Journal, Paramount, Apple, Marvell Technology, Invest, Nasdaq, Dell —, LSEG, JPMorgan, Norfolk Southern, Bank of America, CSG Locations: Texas, China, Wells Fargo, Norfolk, Ohio

As the Nebraska explosion made clear, there can be problems that are hard to spot before potentially disastrous accidents occur. Some details about the explosion might never be known because the shipping container carrying the acid was destroyed. Union Pacific CEO Jim Vena said he understands and welcomes the agency's scrutiny. Vena said Union Pacific and other major railroads have become safer over time. “And that’s what I’m challenging the team with here at Union Pacific is we have to get better ... We’ll invest in it.

Persons: haven’t, ”, Andy Foust, Warren Flatau, Pete Buttigieg, —, Foust, “, hasn’t, Dennis Thompson, Thompson, Jim Vena, Vena, We’ll, Charlie King Organizations: —, Union Pacific, Federal Railroad Administration, . Transportation, Rail, Transportation Workers, Transportation Division, . Railroad, Materials Safety Administration, Norfolk Southern, Platte Fire, Pacific, of Railroad Infrastructure Locations: OMAHA, Neb, Nebraska, North Platte , Nebraska, Omaha, Norfolk, Ohio, railyard, Palestine

The results were hurt by the derailment costs, a drop in its fuel surcharge revenue and flat volume. Without the derailment costs, the railroad would have made $601 million, or $2.65 per share. The analysts surveyed by FactSet Research expected Norfolk Southern to report earnings per share of $2.64, on average. Norfolk Southern officials said their volume has improved over the past month to reach levels they haven't seen since the second quarter of 2022. Norfolk Southern is one of the nation's largest railroads operating in the Eastern United States.

Persons: Alan Shaw, “, That's, Edward Jones, Jeff Windau Organizations: Norfolk, Norfolk Southern, FactSet Research, Eastern Locations: OMAHA, Neb, East Palestine, Norfolk Southern, Ohio, Atlanta, Norfolk, Eastern United States

☆ Stocks making the biggest moves midday: Microsoft, Alphabet, Waste Management and more
▼ + stars: | 2023-10-25 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Microsoft posted almost 13% year-over-year revenue growth, and its Azure cloud segment saw revenue gain 29% for the quarter. Norfolk Southern — The freight railroad dropped 5.3% on the back of disappointing third-quarter earnings. General Dynamics — Shares of General Dynamics rose 4% after the defense contractor's third-quarter earnings and revenue topped estimates. The semiconductor manufacturer sees earnings per share between $1.35 and $1.57, versus the $1.76 expected by analysts polled by FactSet. The stock's third-quarter revenue also disappointed investors, coming in at $4.35 billion, versus the $4.58 billion estimated by analysts polled by LSEG.

Persons: Wells, Max, —, Lisa Kailai Han, Fred Imbert, Hakyung Kim, Yun Li Organizations: Microsoft —, Microsoft, Windows, Norfolk Southern, LSEG, Revenue, Dynamics —, Dynamics, General Dynamics, Boeing —, Deutsche Bank, . Waste Management, Texas, FactSet Locations: U.S

☆ EPA orders Norfolk Southern to perform additional cleanup following Ohio derailment
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

The EPA said it also ordered Norfolk Southern to conduct additional investigations into oily sheen, or film, on water and sediments in two creeks in East Palestine. "Through this order, Norfolk Southern will take a thorough look at the waterways to ensure there are no lasting impacts from the derailment," EPA Regional Administrator Debra Shore said. Norfolk Southern said the order "formalizes the continuation of work that has been ongoing since the derailment under a different regulatory scheme. Norfolk Southern remains cooperative, working with EPA and Ohio EPA at the site, and will continue to address derailment-related impacts in the waterways of Sulphur and Leslie Runs." In February, EPA issued a Superfund unilateral administrative order, compelling Norfolk Southern to eliminate spilled materials and contaminated soil from the location of train derailment.

Persons: Alan Freed, Leslie, Debra Shore, Leslie Runs, Sherin Elizabeth Varghese, Rahul Paswan, Leslie Adler Organizations: REUTERS, Environmental Protection Agency, Norfolk Southern Corp, EPA, Norfolk, Norfolk Southern, Ohio EPA, Thomson Locations: East Palestine , Ohio, U.S, Norfolk Southern, East Palestine, Ohio, Pennsylvania, Sulphur, Norfolk, Bengaluru

Part of the order essentially directed the environmental, health and transportation officials to continue doing what they are doing to make sure Norfolk Southern fulfills its responsibilities and report on the progress. Norfolk Southern has also promised to pay for upgrading East Palestine's parks and water treatment center. Norfolk Southern has also said it will establish funds to pay for lost home values, any long-term health concerns and water contamination issues that result from the derailment. “From the beginning, Norfolk Southern has committed to making it right in East Palestine and covering all costs associated with the clean-up. “This is an overdue but welcomed step to support the people of East Palestine,” said Brown.

Persons: Joe Biden, Biden, Mike DeWine, Dan Tierney, “, Jessica Conard, Jami Wallace, Sen, Sherrod Brown, ”, Brown, aren't, Patrick Orsagos Organizations: Norfolk Southern, FEMA, Federal Emergency Management Agency, Ohio Gov, Southern, Norfolk, Ohio, East, East Palestine Unity Council, Norfolk Southern ., Associated Press Locations: Ohio, Pennsylvania, East Palestine, Norfolk Southern, Palestine, Norfolk, Atlanta, Norfolk Southern . U.S, Columbus , Ohio

Norfolk Southern announced new details Monday about its plan to compensate East Palestine residents for lost home values since the fiery derailment disrupted life in the eastern Ohio town in February. Already, the railroad estimates that the cleanup will cost more than $800 million, which includes $74 million that Norfolk Southern has pledged to East Palestine to help the town recover. “This is another step in fulfilling our promise to East Palestine to make it right. “I intend to keep the pressure on Norfolk Southern to make things right for the community,” he said. Senators who proposed a package of railroad safety reforms after the derailment that is still awaiting a vote, said he remains skeptical of Norfolk Southern.

Persons: it's, ”, Alan Shaw, Texas Sen, Ted Cruz, JD Vance, Vance, “, Jami Wallace, hasn't, ” Wallace, Wallace, It’s Organizations: Norfolk Southern, Ohio Attorney, Republican, Norfolk, U.S, Senators, Unity Council Locations: Palestine, Ohio, East Palestine, Norfolk Southern, Texas

(AP) — Norfolk Southern's CEO pledged to continue working to improve safety after consultant the railroad hired following the fiery Ohio derailment recommended making sure that safety is truly a priority at all levels and continuing many efforts it has already begun. And that is exactly what we are doing.”A previous report from the Federal Railroad Administration said that Norfolk Southern had too often been content to do only the minimum required to ensure safety. Shaw said this report is just one of the initial steps to improve safety on the railroad and Atkins will continue to recommend improvements over the next couple years. The consultant recommended that the railroad continue to work with labor leaders to find additional ways to improve safety. While working to improve safety, Norfolk Southern also pledged to make improvements to more than 70 of its facilities across 22 states in the eastern United States as part of an effort to improve morale.

Persons: Alan Shaw, Atkins, “, ” Shaw, ”, Shaw, he's Organizations: Norfolk, Atkins Nuclear, Federal Railroad Administration, Southern, Federal Railroad, Norfolk Southern Locations: OMAHA, Neb, East Palestine , Ohio, Pennsylvania, East Palestine, Norfolk Southern, United States

☆ Norfolk Southern CEO on Ohio derailment: 'we’re making promises, and we’re keeping promises'
▼ + stars: | 2023-08-15 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Norfolk Southern CEO Alan Shaw told CNBC's Jim Cramer that safety is a priority for the railroad and transportation company. "I'm proud of the response in East Palestine, we're making promises, and we're keeping promises," Shaw said. Norfolk Southern was down a little over 3% by Tuesday's close. Findings from the National Transportation Safety Board investigation suggested that supervisors didn't address an engineer's concerns before the accident. Norfolk Southern incurred $800 million in environmental and legal costs as a result of the derailment, according to the company's most recent earnings call.

Persons: Alan Shaw, CNBC's Jim Cramer, Shaw, we're, Tuesday's, didn't, Atkins Organizations: Norfolk Southern, National Transportation Safety Board, Atkins Nuclear, Navy, Norfolk Locations: East Palestine, Norfolk Southern, Ohio, Norfolk, U.S

☆ Norfolk Southern engineer's safety warning was unheeded before Ohio derailment, NTSB says
▼ + stars: | 2023-06-22 | by ( Yuheng Zhan | ) www.cnbc.com time to read: +3 min

Norfolk Southern supervisors didn't address an engineer's safety concerns before a train loaded with toxic chemicals derailed in East Palestine, Ohio in February, according to preliminary findings released Thursday from a National Transportation Safety Board investigation. On Feb. 3, a Norfolk Southern freight train carrying hazardous chemicals derailed, releasing toxic chemicals into the environment near Ohio's border with Pennsylvania. Norfolk Southern CEO Alan Shaw has pledged support for residents of East Palestine, Ohio, although critics have said he hasn't gone far enough. Norfolk Southern took further exception with the union's allegation, saying that the current average car inspection time is approximately two minutes. "It is not accurate to say NS has 'reduced' the standard amount of time for a car inspection since the implementation of PSR.

Persons: didn't, we've, Connor Spielmaker, Alan Shaw, hasn't, Spielmaker Organizations: Norfolk, National Transportation Safety Board, Decatur, Federal Railroad Administration, Norfolk Southern, CNBC, NTSB, Transportation Communications Union, TCU Locations: Norfolk Southern, East Palestine , Ohio, Decatur , Illinois, Southern, East Palestine, Norfolk, Ohio's, Pennsylvania

☆ Stocks making the biggest premarket moves: Apple, Meta, Micron, PacWest and more
▼ + stars: | 2023-05-22 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Check out the companies making the biggest moves in premarket trading:Apple — Shares of the iPhone maker fell about 1% premarket after Loop Capital downgraded Apple's stock to hold from buy. Nike , Foot Locker — Shares of Nike and Foot Locker declined 1.5% and 2.4%, respectively, in premarket trading. Foot Locker missed on the top and bottom lines in its first fiscal quarter, and lowered its guidance. UBS upgraded shares to a buy from neutral rating, saying that expansion into new markets should fuel growth. Norfolk Southern , CSX — Shares of the railroads added 1.8% and 1.5%, respectively, in premarket trading.

☆ Where the trucking and rail recession is showing up in the economic data
▼ + stars: | 2023-04-28 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

The decrease negatively impacts earnings for both trucking and rail where revenue is generated by moving freight. Ocean freight orders are a leading indicator of train and trucking earnings since 90% of the world's trade moves by water. This is one of three key supply chain charts that are signaling more financial potholes for trucking and rail companies. West Coast ports have been losing trade to both the East Coast ports and Gulf ports as a result of prolonged labor negotiations, though union representatives indicated last week a "tentative agreement" had been reached, but no details were provided. Trucking is needed for both container pick up at the ocean terminals and rail ramps.

Search resuls for: ". Norfolk Southern"

25 mentions found