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(The Associated Press circulated the following on September 11.)

MINNEAPOLIS, Minn. — Shares of CSX Corp. jumped Thursday after the rail shipper raised its guidance and said its profit is growing faster than it had expected.

CSX shares rose $5.85, or 10.7 percent, to $60.70. The stock has ranged from $38.09 to $70.70 over the past year.

CSX gave other bullish signals, too, including a plan to spend more money on additional rail cars to meet growing demand, and that its ratio of expenses to revenue will improve.

CSX also said that through 2010 it expects compound operating income growth to be 15 percent to 20 percent over this year’s base, versus prior guidance for 13 percent to 15 percent growth.

“The primary catalysts for the raised guidance include strong performance, productivity and efficiency gains, a diversified portfolio, positive outlook for rail and intermodal transportation and moderating fuel prices,” Morgan Keegan analyst Art Hatfield wrote in a client note.

He maintained his “Market Perform” rating the same but raised his profit estimates for 2008 and 2009.