(The Associated Press circulated the following on October 23.)
NEW YORK — Shares of railroad operators finished mostly higher Tuesday, after Burlington Northern reported third-quarter earnings that beat analysts expectations.
The report followed Union Pacific and CSX Corp., which last week both reported third-quarter results that topped Wall Street’s forecasts.
Morgan Keegan & Co. analyst Art W. Hatfield reiterated his “Outperform” rating on Burlington Northern, citing “good results in a tough environment.”
The only rail to lose ground was Canadian National Railway Co., which reported a slip in third-quarter profit after the bell Monday. The railroad also forecast flat earnings for the rest of 2007.
Here’s how major railroads finished Tuesday:
Union Pacific Corp. closed up $4.71, or 3.8 percent, at $129.96.
Burlington Northern Santa Fe Corp., up $3.54, or 4.3 percent, to $86.54.
CSX Corp., up 77 cents to $45.44.
Norfolk Southern Corp., up $1.34, or 2.5 percent, to $54.
Kansas City Southern, up $1.62, or 4.7 percent, to $36.39.
Canadian National Railway Co., down 88 cents, to $51.74.
Canadian Pacific Railway Ltd., up 31 cents,to $69.95.