(The Associated Press circulated the following on July 31.)
NEW YORK — Shares of railroad operators were mixed Tuesday after a key report indicated consumer confidence reached a 6-year high last month, and an analyst upgraded Norfolk Southern Corp.
The New York-based Conference Board said its Consumer Confidence Index, which fell in June, recovered in July to hit its highest level since August 2001.
Additionally, investors seemed to gain more confidence in the railroads after Norfolk Southern was upgraded to “Overweight” by a JPMorgan analyst Monday. The analyst suggested that rising shipping volumes in the second half of the year will reduce the stock’s risk.
Here’s how the top rail company shares finished Tuesday:
Canadian National Railway Co., down 58 cents to $52.13.
Union Pacific Corp., down $1.56 to $119.14.
Burlington Northern Santa Fe Corp., down 94 cents to $82.14
CSX Corp., up 14 cents to $47.41.
Norfolk Southern, down 8 cents to $53.78.
Canadian Pacific Railway Ltd., up 37 cents to $73.93