DIRS.INFO The most relevant business & tech news

☆ Stocks making the biggest moves premarket: Apple, Amgen, Cloudflare and more
▼ + stars: | 2024-05-03 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Hershey — Shares of the chocolate confectionary maker added about 1% after Hershey posted a first-quarter earnings beat. Hershey's $3.25 billion revenue also beat the $3.11 billion consensus. Amgen — Shares soared 13% after the biotech firm posted a first-quarter earnings and revenue beat. Cloudflare — The stock continued to sink, plunging 12% after reporting weak full-year guidance, although Cloudflare posted a first-quarter earnings and revenue beat. However, Coinbase's first-quarter revenue of $1.64 billion beat the $1.34 billion consensus, according to LSEG.

Persons: Hershey, LSEG, Apple, Eli Lilly, Cloudflare, Expedia, Piper Sandler, Fortinet, FactSet, Jefferies, Coinbase's, Benjamin Nolan, — CNBC's Brian Evans, Michelle Fox, Hakyung Kim, Tanaya Macheel Organizations: Hershey —, Apple, Novo Nordisk, BMO Capital Markets, Revenue, Arista Networks, Arista, LSEG . Union Pacific, JPMorgan Locations: billings, LSEG, Stifel

Before last year, paid sick leave was generally not offered to railroad workers. That's instead of joining all the other major freight railroads in negotiating jointly with rail unions on an agreement over pay and benefits. The rail industry reached the brink of a strike in the fall of 2022 before Congress and President Joe Biden intervened to force rail workers to accept a contract. Union Pacific, BNSF and Norfolk Southern now have paid sick time agreements in place with all their unions. Canadian National also trails behind the big U.S. railroads, but still offers sick time to about 46% of its U.S. workers.

Persons: —, Ed Dowell, CPKC “, ” CPKC, That's, Patrick Waldron, ” Waldron, “, CPKC, Joe Biden, wouldn't Organizations: Rail, CPKC's, American Train, Association, Kansas City Southern, Canadian Pacific, CSX, Union Pacific, Norfolk, Canadian Locations: OMAHA, Neb, Kansas City , Missouri, CPKC's U.S, Minnesota, U.S, Calgary, United States, Kansas City, Kansas, Canadian Pacific, North America, BNSF, Norfolk Southern

☆ Stocks making the biggest moves midday: Vita Coco, Archer-Daniels-Midland, Gilead Sciences and more
▼ + stars: | 2024-01-22 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Archer-Daniels-Midland — The food processor's shares dropped more than 22%, making the stock poised for its second worst day in its history back to 1972. Archer-Daniels-Midland announced weak fourth-quarter earnings guidance and placed Chief Financial Officer Vikram Luthar on administrative leave amid an investigation into the company's accounting practices. StoneCo — Shares of the Brazilian payments company rose more than 6% following an upgrade to a buy rating from Goldman Sachs. The financial firm cited an attractive entry point and a constructive outlook on the next freight cycle as catalysts for the change. Vita Coco — The coconut water company tumbled more than 5% after William Blair downgraded shares to market perform from outperform.

Persons: Archer, Vikram Luthar, Goldman Sachs, Trodelvy, Bernstein, Hunt, Gus Richard, Coco, William Blair, — CNBC's Michelle Fox, Alexander Harring, Hakyung Kim, Tanaya Macheel, Pia Singh, Samantha Subin Organizations: Arkhouse Management, Brigade Capital Management, Daniels, Midland, SolarEdge Technologies, Riley, Bloomberg, U.S . Securities, Exchange Commission, Spirit Airlines, JetBlue Airways —, JetBlue, Gilead Sciences, . Union Pacific, Norfolk Southern, UBS, Northland Capital Markets Locations: Brazil, Norfolk, Suez

☆ Stocks making the biggest moves midday: Tesla, Netflix, American Airlines, AT&T and more
▼ + stars: | 2023-10-19 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Las Vegas Sands – The casino operator rose 3.8% after topping revenue estimates for the third quarter and pointing to a recovery in Macao and Singapore. Las Vegas Sands posted revenues of $2.8 billion, exceeding the $2.73 billion expected by analysts polled by LSEG. American Airlines — Shares advanced 2% midday even after the air carrier posted weaker-than-expected earnings and revenue for the third quarter . Netflix added 8.76 million subscribers in the quarter while analysts polled by StreetAccount forecast 5.49 million. Zscaler — Stock in the cloud security firm added 1% following an upgrade to buy from Jefferies on Thursday, citing upside to 2024 earnings estimates.

Persons: Tesla, Blackstone, LSEG, —, Alex Harring, Hakyung Kim, Samantha Subin, Tanaya Macheel Organizations: Union Pacific, LSEG, Vegas Sands, Las Vegas Sands, LSEG . American Airlines —, Netflix, StreetAccount, Lam Research, Zions, Jefferies, Blackstone — Locations: Vegas, Macao, Singapore, Las, Atlantic, Pacific

(AP) — Federal inspectors said they found an alarming number of defects in the locomotives and railcars Union Pacific was using at the world's largest railyard in western Nebraska this summer, and the railroad was reluctant to fix the problems. Federal Railroad Administrator Amit Bose wrote a letter to UP's top three executives Friday expressing his concern that the defects represent a “significant risk to rail safety " on the Union Pacific railroad. But the letter didn't detail what kind of defects inspectors found in the Bailey Yard in North Platte, and there are a myriad of federal rules. “Union Pacific will never compromise on the safety of our employees. Union Pacific has a network of 32,400 miles (52,000 kilometers) of track in 23 Western states.

Persons: Amit Bose, Bose, ” Bose, carmen, Kristen, South, Jim Vena Organizations: —, Union Pacific, Federal, “, Pacific, FRA, Union Pacific's Locations: OMAHA, Neb, Nebraska, North Platte, Omaha , Nebraska, ”

NEW YORK (AP) — Stocks wavered on Wall Street Tuesday as traders return from a long holiday weekend to face a relatively quiet week. The Dow Jones Industrial Average slipped 43 points, or 0.1%, to 34,792 as of 11:22 a.m. Eastern. Hong Kong’s benchmark fell 2.1%, as investors sold real estate shares which have gained recently following government efforts to support the ailing industry. Wall Street will also get updates on aspects of the manufacturing sector and consumer credit. Analysts are still concerned about the potential for a recession, but those concerns have lessened as inflation cools and the economy remains resilient.

Persons: — Stocks, Kroger, — Elaine Kurtenbach, Matt Ott Organizations: Dow Jones, Nasdaq, Labor, Technology, Microsoft, . Union Pacific, Energy, Chevron, Investors, The Institute for Supply Management, GameStop, Dave, Federal Reserve, Treasury Locations: U.S, Saudi Arabia, Russia, Europe, Asia

After selling off more than 9% this week, shares of defense contractor RTX look poised for a bounce back, according to one technical indicator. Nearly half of Wall Street analysts rate shares a buy. It's the second most oversold stock in the S & P 500 with a 14-day RSI of 19.6. Just 14% of analysts rate shares a buy, with the average price target suggesting nearly 8% downside. Half of Wall Street analysts rate shares a buy, with a price target that implies 7% upside.

Persons: RTX, Lamb Weston, Estee Lauder, Biogen, Goldman Sachs Organizations: Federal Reserve, CNBC Pro, Raytheon, Pratt & Whitney, Wall Street, Ford Motor, Union Pacific, UNP, Pacific, Street, Marathon Petroleum

☆ New Senate legislation seeks to revise national labor law, targeting port union workers
▼ + stars: | 2023-06-22 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

The legislation, sponsored by Idaho Republican Senator Jim Risch, would amend the National Labor Relations Act and the Labor Management Relations Act of 1947 to deter labor slowdowns and prohibit labor organizations from blocking the modernization of ports. It estimated a more widespread strike along the West Coast could cost approximately $1 billion per day. The recent union workers slowdowns impacted key transportation operations, including truckers, the freight rails and ocean vessels. As a result of the slowdowns, $5.2 billion in cargo was stuck off the West Coast ports. "The PLUS Act takes the important step of making intentional labor slowdowns an unfair labor practice.

Persons: slowdowns, Jim Risch, Ted Budd, Mike Crapo, Biden's, Julie Su, Risch, Biden, AB5, Budd, Crapo Organizations: Warehouse Union, Senate, Idaho Republican, National Labor Relations, Labor Management Relations, Pacific Maritime Association, U.S . Chamber, Commerce, Union Pacific, CNBC, Labor, California Labor, Workforce Agency, Capitol, Big Labor Locations: West Coast, West, Idaho, U.S, Los Angeles, Long, Port, Seattle, United States, North

☆ Another cultish cost-saving formula gets off-track
▼ + stars: | 2023-03-29 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +9 min

Despite its multiple interpretations and approaches, success is widely gauged by a railway’s operating ratio, a simple measure of how much it spends to make a buck. Union Pacific’s peers improved similarly, indicative of the antiquated ways the industry had been deploying resources. Union Pacific also found itself unable to bring back enough furloughed workers in areas where they were most needed. “In a significant departure from the railroad industry's recent past, we deliberately moved away from a singular focus on operating ratio,” he told lawmakers. “If we wanted to drive [operating ratio] lower over time, we could,” the board wrote in a letter to shareholders in late 2021.

☆ Union Pacific shares rise after CEO Fritz to step down amid investor pressure
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +2 min

Feb 27 (Reuters) - Shares of Union Pacific Corp (UNP.N) surged nearly 10% before the bell on Monday, a day after the U.S. railroad operator announced that its Chief Executive Lance Fritz would step down this year amid pressure from investor Soroban Capital Partners. The gains came after some Wall Street analysts backed the leadership change at the company, which has struggled with labor shortages and service issues. Union Pacific's shares have dropped more than 25% over the past 10 months. Other analysts said a new leadership has the potential to improve the company's operating ratio — a key profitability metric. In its most-recent quarter, the company flagged higher operating expenses caused by operational inefficiencies and the current economic environment hitting its revenue growth.

☆ Port of New York shatters trade record, but latest shipping data hints at California comeback
▼ + stars: | 2023-01-25 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

Containers sit at the GCT New York container terminal on Staten Island on October 20, 2022, in New York City. The Port of Long Beach moved 9.13 million TEUs last year. "These 9.5 million TEUs is more than 27% of 2019 levels," said Bethann Rooney, port director of the Port of New York and New Jersey. "This is not sustainable if we are going to handle 14 million TEUs in the not too distant future," she said. If they have stability on the West Coast, it doesn't really make sense to spend the extra two weeks crossing to go to the East Coast.

☆ Stocks making the biggest moves midday: 3M, Paccar, Bed Bath & Beyond, AMD and more
▼ + stars: | 2023-01-24 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Bed Bath & Beyond — The retail stock jumped 13% as traders continued to pile into the heavily shorted name. Advanced Micro Devices — Shares slid 3.2% after Bernstein downgraded the semiconductor maker to market perform from outperform. The company posted $18.09 billion in revenue, falling short of the Street's expectations of $18.15 billion. Zions Bancorp — The bank's shares slumped 2% even after Zions posted fourth-quarter earnings per share that beat analysts' expectations. The company posted per-share earnings of $1.84, compared to the $1.64 anticipated by analysts polled by Refinitiv.

☆ Freight railroad service is terrible, even without the threat of a strike
▼ + stars: | 2022-12-11 | by ( Chris Isidore | ) edition.cnn.com time to read: +9 min

But that doesn’t mean freight railroads are providing good service to their customers. Many of the problems tangling up the supply chain, driving up prices and slowing the economy can be traced to the steady decline in freight rail service in recent years. Some experts who represent rail customers who have complained about service in the past say service has gotten better since earlier this year. “The national freight rail network is broken, and the need for long-term rail reform is clear. Union Pacific (UNP), Norfolk Southern (NSC) and Berkshire Hathaway’s (BRKA) Burlington Northern Santa Fe all reported record earnings in 2021.

☆ Shareholders are asking rail companies to grant paid sick leave for workers because it's a 'prudent investment'
▼ + stars: | 2022-12-05 | by ( Juliana Kaplan | Hannah Towey | ) www.businessinsider.com time to read: +6 min

Some rail investors are calling for companies to adopt a proposal to give workers paid sick leave. Currently, rail workers technically have no paid sick leave, a key demand in their contract negotiations. Now, some railroad shareholders want reasonable paid sick leave to be included as a benefit. "Getting workers paid sick leave cuts down on disease spread dramatically, leading to fewer absences. Now, additional paid sick leave could be put to a vote, if the shareholders pushing rail companies to consider it get their way.

☆ Rail union bosses warn of election consequences as Senate moves closer to vote on labor deal to prevent strike
▼ + stars: | 2022-12-01 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +10 min

watch nowLeaders of the rail labor unions that have voted not to ratify the tentative labor deal tell CNBC that as the Senate moves closer to a vote on Thursday afternoon on legislation to prevent a rail strike, senators need to realize this is a humanitarian issue and their members will not forget who supported them. On Wednesday, the House passed the tentative rail labor agreement and additional legislation to add seven paid sick days, which has been one of the most important issues to rail workers in the breakdown of negotiations with freight rail companies. All three union presidents say they understand why President Biden had to push Congress to pass the tentative agreement. Biden's PEB deal 'missed the mark'Ferguson said the Presidential Emergency Board rail labor deal "missed a few marks and sidestepped a few, mainly our attendance policy issues." Supply chain congestion and rail embargoesThe unions argue that precision railroading and the lack of labor are the reasons behind congestion in the supply chain.

But that doesn’t mean that the freight railroads are providing good service to their customers. Many of the problems tangling up the supply chain, driving up prices and slowing the economy can be traced to the steady decline in freight rail service in recent years. “Railroads understand that service is not at the level customers expect or deserve. “”I’m told by a lot of our members that this has been the worst rail service year in their careers. For rail customers there is basically no alternative for the products they ship.

Search resuls for: ". Union Pacific"

16 mentions found