(The Associated Press circulated the following on July 25.)
NEW YORK — Shares of railroad operators finished lower Tuesday after two analysts downgraded Canadian National Railway Co., and Burlington Northern Santa Fe Corp. said earnings fell.
Analysts from Citigroup and Stifel Nicholaus downgraded Canadian National to “Hold” from “Buy,” after the company said second-quarter profit fell 29 percent and it cut its full-year guidance.
Burlington Northern Santa Fe said its second-quarter earnings fell 8 percent and missed Wall Street estimates, on flat coal volumes and rising fuel costs.
Here’s how the top rail company shares finished Wednesday:
Canadian National Railway Co. down $2.61, or 4.5 percent, to $55.10.
Union Pacific Corp. down $2.33 to $124.99.
Burlington Northern Santa Fe Corp. down $2.62 to $88.24.
CSX Corp. down $1.33, or 2.6 percent, to $49.85.
Norfolk Southern Corp. down $1.43, or 2.5 percent, to $55.52.
Canadian Pacific Railway Ltd. down $2.28, or 2.8 percent, to $80.56.