(The Associated Press circulated the following on January 3.)
NEW YORK — Shares of major railroads finished mostly lower Thursday, as investors reacted to a report that said carload demand slipped last week after a volatile holiday period.
For the last week of 2007, total volumes for U.S. rails fell 6.6 percent, while volumes at Canadian rails slipped a more modest 3.1 percent.
Harsh winter weather in the Midwest pressured demand at Burlington Northern Santa Fe Corp. and Union Pacific Corp. for the week, according to Bear Stearns analyst Edward Wolfe. CSX Corp. fared the worst, with carloads falling 9 percent for the period, he said.
Total North American carloads slipped 2.3 percent for the full year compared with 2006.
Here’s how major rails finished Wednesday:
Burlington Northern Santa Fe Corp., down $1.07 to $81.86.
CSX Corp., down $1.45, or 3.3 percent, to $42.
Norfolk Southern , down 67 cents to $48.74.
Union Pacific, down 38 cents to $123.86.
Canadian National Railway Co., up 8 cents to $46.48.
Canadian Pacific Ltd., up 14 cents to $64.59.