(The Associated Press circulated the following on March 19.)
NEW YORK — Shares of trucking companies and railroad operators sank Wednesday, as analysts suggested that harsh winter weather is compounding weak freight demand and soaring fuel prices in the first quarter.
Also Wednesday, the chief financial officer of Norfolk Southern Corp. said at a conference the weakening economy will likely impede the railroad’s ability to hit its projected 2 percent volume growth target this year.
Here’s how shares of truckers and railroads in the S&P 500 performed:
Union Pacific Corp., down $5, or 3.9 percent, to $124.30.
Norfolk Southern Corp., down $4.48, or 7.9 percent, to $52.41.
Burlington Northern Santa Fe Corp., down $4.28, or 4.5 percent, to $90.70.
CSX Corp., down $1.61, or 3 percent, to $53.05.
Ryder System Inc., down $2.84, or 4.6 percent, to $59.49.