AI Market Shock Coming November 19th?

Jeff Brown predicts an AI market shift, potentially happening by November 19th, led by Bill Gates' Stargate project. Get ahead of the curve before the next AI market shock.

Railroad Norfolk Southern tops third-quarter forecasts, with added boost from insurance, rail sales

JOSH FUNK
October 22, 2024

Railroad Norfolk Southern's streamlined operations delivered strong earnings last quarter, even excluding boosts from insurance payouts related to the disastrous derailment in East Palestine and the sale of two rail lines.

The Atlanta-based railroad recorded a $287 million gain on the sale of rail lines in Virginia and North Carolina, and for the second quarter in a row it collected more insurance payments than it paid out for last year's derailment near the Ohio-Pennsylvania border.

Norfolk Southern earned $1.099 billion, or $4.85 per share in the quarter, the company said. That's up significantly from a year ago, when profits were hurt by mounting costs related to the derailment. Excluding one-time items, the railroad earned $737 million, or $3.25 per share, beating the $3.15 forecast by analysts surveyed by FactSet Research.

New CEO Mark George, who took over last month, isn't expected to implement any strategic changes because he helped craft the plan a couple years ago that calls for keeping more employees on hand during a downturn, so the railroad can respond better when the economy recovers.

"It's really about building out consistent, safe, reliable service with a network that's resilient and can bounce back from events," like it did when Norfolk Southern got all its major lines running again within 72 hours after Hurricane Helene hit, said George, who was promoted from Chief Financial Officer after Alan Shaw was fired for having an inappropriate relationship with an employee.

Norfolk Southern has been in the spotlight ever since the February 2023 derailment in East Palestine triggered a national focus on railroad safety. Earlier this year, the railroad also had to fend off a takeover bid from investment firm Ancora Holdings. The investor ultimately won only three seats, insufficient to make the sweeping changes it sought.

The railroad redoubled its efforts to lower costs in the spring, hiring Chief Operating Officer John Orr to help reduce the number of times railcars get switched and enable Norfolk Southern to operate fewer, longer trains. It's operating expenses fell 34% to $1.46 billion.

"We're seeing the results. And I don't have a whole lot of patience for lack of execution or acceptance of mediocrity," George said.

The railroad's revenue of $3.05 billion was just below analysts' expectation for $3.09 billion.

Norfolk Southern is one of the nation's largest railroads, with tracks crisscrossing the Eastern United States.

Continue Reading...

Popular

AP VoteCast: Voters who focused on the economy broke hard for Trump

WASHINGTON (AP) — President-elect Donald Trump tapped into deep anxieties about an economy that seemed unable despite its recent growth to meet the needs of the middle class, according to AP VoteCast, a sweeping survey of more than 120,000 voters nationwide.

Trump Media suffers $19.2 million Election Day loss and shares surge higher

NEW YORK (AP) — The parent company of Donald Trump's social lost $19.2 million in the last quarter, according to an earnings report released on the same day he .

Unlock the Ultimate Gold Play: $20 for a 1-Oz. Stake in Gold! - Ad

Gold has already soared past $2,500 an ounce. But with this 'backdoor' strategy, you can gain exposure to over an ounce for just $20. As the Fed cuts rates, the stage is set for a major gold boom.

The No. 1 Gold Play for 2025 - Ad

Everything is lining up perfectly for a historic gold bull run. One gold expert says he's found the best way to get in, for just $6.

Trump's Historical Hiccup: A Tale Of MyPillow Guy Mike Lindell, Al Capone, And Confusion

Trump delivered a disjointed speech that included a bizarre tale about Mike Lindell and Al Capone, leaving the crowd puzzled but urging supporters to vote.

South Dakota's Adult-Use Cannabis Legalization Ballot Sparks Major Funding Race

South Dakota's cannabis legalization vote sees nearly equal funding, with industry backing and strong local opposition shaping the debate.

Forget Nvidia, Apple, Tesla, and Google - Ad

Market Wizard Larry Benedict: "Forget 99% of stocks: It's possible to make all the money you need for a happy retirement with just this one."

Elon Musk's Mother Does Harris Impression During TV Appearance

Maye Musk, mother of Elon Musk, has sparked a flurry of reactions following her controversial imitation of Kamala Harris on Fox Business.

China Escalates Trade Dispute, Lodges Complaint With WTO Over European EV Tariffs

China escalated its trade dispute with the European Union on Monday by lodging a formal complaint with the World Trade Organization regarding the EU's recently imposed tariffs on Chinese-made electric vehicles.

Elon Musk: Without This Company, "Civilization Will Crumble" - Ad

Did you know that there's an investment that will give you the opportunity to collect "royalties" every time Nvidia makes a chip? Ex-Wall Street CEO Dylan Jovine calls this "the easiest windfall from the AI revolution." Even ChatGPT founder Sam Altman says AI depends on this company's work...

More Than $100M Wagered On Presidential Race On Kalshi

Legal betting on the presidential race via online betting company Kalshi has topped $100 million, even as polls continue to show a neck-and-neck race between Kamala Harris and Donald Trump.

Early Nvidia, AMD, and Tesla Investor Shares New AI Picks - Ad

Jeff Brown, the tech expert who recommended Nvidia, AMD, and Tesla, is now releasing new AI stock picks. He believes they could deliver even bigger gains than before.

Kamala Harris Urges Change At Ellipse Rally: 'Time To Turn The Page On Drama And Conflict'-- Slams Trump For Jan. 6 Riots

Vice President Kamala Harris addressed an estimated crowd of 75,000 at the White House Ellipse, calling for a new political era beyond Trump, emphasizing unity, economic reform, and her vision for a potential presidency.

Will people leave Florida after devastating hurricanes? History suggests not

ORLANDO, Fla. (AP) — The news rippled through Treasure Island, Florida, almost like a third storm: The mayor planned to move off the barrier island a month after flooded tens of thousands of homes along the Gulf Coast and two weeks after also ravaged the state.

Why November 7th Will Impact Stocks More Than The Election - Ad

(This happens only once every 25 years.) Just 48 hours after the 2024 Presidential Election... A man from a completely different government branch is going to stand up, say a few words... ... and make history in the stock market. This event comes along only every 25 years... And experts are already positioning themselves to profit from it.

Robinhood Reports Record Overnight Trading Volume, 400 Million 2024 Election Contracts Traded

Stocks and cryptocurrencies saw heavy action during the after-hours trading session during the 2024 election thanks to the expansion of 24-hour trading at companies like Robinhood Markets (NASDAQ:HOOD), which sees the extended hours as a key user

The Best Post-Election Meme Coins? Not Dogecoin, Not Shiba Inu, But Cats And AI, Traders Say

Pseudonymous crypto trader Nachi has voiced strong confidence in Donald Trump winning the presidential election, resulting in a bullish outlook for AI-driven meme coins, particularly Goatseus Maximus (CRYPTO: GOAT).

The Secret Weapon You Need for This Bull Market - Ad

There's a powerful tool that can remove all the guesswork from trading. It's built to trade the key levels for you, buying dips and selling at the right time, without you having to lift a finger. For a limited time, the creators of this incredible tool are holding a free Workshop where you can see the software in action.

US Steel Reports Better-Than-Expected Q3 Results, Aims To Close Nippon Steel Deal By Year End

U.S. Steel reported its third-quarter results after Thursday's closing bell. Here's a look at the details from the report.

Final jobs report before election will likely offer a blurred view of labor market

WASHINGTON (AP) — Americans on Friday will get their last major look at the state of the U.S. economy — the October jobs report — just four days before Election Day. The view, though, is likely to be that left many workers temporarily off payrolls.

Elon: Tesla Is a Robotics Company Now - Ad

Elon Musk's new plan for Tesla's future has nothing to do with electric cars... TechRadar reports it "will blow your mind..." & McKinsey says it "will shape the coming decade." We recently got our hands on a video clip detailing this breakthrough.

Researchers say an AI-powered transcription tool used in hospitals invents things no one ever said

SAN FRANCISCO (AP) — Tech behemoth OpenAI has touted its artificial intelligence-powered transcription tool Whisper as having near “human level robustness and accuracy.”

US Oil Set to Surge on Middle East Tension... Are You Ready? - Ad

With the Middle East facing yet another conflict, now is the time to get in. That's why today I want to show you the best way to profit from oil in 2024. It's NOT a stock, future or bond... Rather, it's an unusual investment that could hand you huge monthly income from the oil and gas markets.

AstraZeneca Unveils Early Data From Chinese-Firm Partnered Oral Weight Loss Drug

AstraZeneca and Eccogene revealed promising trial data on ECC5004, an oral GLP-1 receptor agonist for obesity, showing safety, tolerability, and convenient dosing.

24/7 Automated Profits in Crypto - Ad

October through December are historically among the most bullish months for crypto. WaveBot -- an automated trading tool that takes all the guesswork out of profiting in crypto. It trades key levels, buying dips and selling at the perfect time, 24/7. All you need to do is set it up. After that, WaveBot takes care of everything.

AST SpaceMobile Stock Is Rising After Hours: What's Going On?

AST SpaceMobile shares are trading higher in after hours Wednesday after the company announces it secured an initial contract with the Space Development Agency as a prime government contractor.

Boeing machinists are holding a contract vote that could end their 7-week strike

Unionized factory workers at Boeing are voting Monday whether to accept or to , which has lasted more than seven weeks and shut down production of most Boeing passenger planes.

Single Stock Blueprint Available Now - Ad

Market Wizard Larry Benedict is one of the most successful traders you'll ever meet...But he doesn't make money the traditional way. In short: It's a way to trade just one stock...And potentially make all the money you need to fast-track your retirement -- no matter what happens in the stock market.

Silicon Valley Insider Reveals AI Retirement Playbook - Ad

Jeff Brown, who recommended Nvidia in 2016, is sharing his full blueprint to help you retire comfortably using AI investments. Follow his strategy for a secure financial future.

Stock market today: Japan leads losses in Asia after sharp decline on Wall St driven by Big Tech

HONG KONG (AP) — Asian stocks were mostly lower Friday morning, with Japan's benchmark Nikkei losing over 2% in early trading after a driven by high expectations.

Ardelyx Beats Q3 Sales Estimates, Shares Climb

Ardelyx reported its third-quarter results after Thursday's closing bell. Here's a look at the details from the report:

The Mysterious VC Firm Behind Nvidia's Secret Weapon - Ad

In 1999, Sutter Hill Ventures made a bold bet on Nvidia before anyone had heard of it. Now, they're going all-in on Nvidia's hush-hush partner that's powering their new Blackwell chip. Discover the little-known company that's attracting massive investments from the visionaries behind Nvidia's 100,000% rise.

LA County sues Pepsi, Coca-Cola over plastic bottles

LOS ANGELES (AP) — Los Angeles County is taking on Pepsi and Coke for their role in plastic pollution.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright trendadvisor.net
Privacy Policy | Terms of Service