(The Associated Press circulated the following on June 26.)
NEW YORK — Shares of railroad operators finished lower Tuesday, as broader markets slipped and a major rail car maker said it would fall significantly below Wall Street’s second quarter earnings expectations.
Railcar manufacturer FreightCar America Inc. said late Monday it expects second-quarter earnings to be between 85 cents and 95 cents per share, on weakness in the North American market and an order and backlog slump.
Analysts polled by Thomson Financial, on average, expected profit of $1.20 per share.
FreightCar America fell $1.36, or 2.8 percent, to close at $48.03.
Here’s how the top rail names finished Tuesday:
Union Pacific Corp. fell $1.22 to close at $113.48.
Burlington Northern Santa Fe Corp. lost $1.21 to close at $84.84.
CSX Corp. fell 76 cents to $43.86.
Norfolk Southern Corp. slipped $1.10 to $52.25.
Canadian Pacific Railway Ltd. fell 99 cents to $67.25.
Canadian National Railway Co. lost 30 cents to close at $49.88.