Man dies in crash when train spins, flips truck attempting to cross tracks with warning arms down: FHP
A man died Thursday night when the truck he was in was hit by a train on Market Street in Starke after trying to cross the railroad tracks while the warning arms were down, according to the Florida Highway Patrol.
US rail industry defends safety record amid staffing cuts
Several major unions say the significant staff cuts railroads have made in recent years could jeopardize safety, but the major railroads say the new operating model they have adopted is simply helping them become more efficient and hasn’t made the railroads riskier.
Judge says railroad talks should be included in lawsuits
FILE- In this July 31, 2018, file photo a Union Pacific train travels through Union, Neb. – A federal judge has ruled that the details of conversations between the nation's four largest railroads should be included in lawsuits challenging billions of dollars of charges the railroads imposed in the past. The lawsuits say the railroads conspired to boost prices starting in 2003 by imposing coordinated fuel surcharges and pocketing billions of dollars in profits. In the lawsuits, the railroads have argued that their fuel surcharges were legal and were simply designed to recover the skyrocketing cost of fuel at the time. Union Pacific, which is based in Omaha, Nebraska, plans to continue “vigorously defending itself against the allegations in these lawsuits,” spokeswoman Elizabeth Graham said.
Woman drives around cross arms, hit by oncoming train
HILLIARD, Fla. – Railroad crossing arms and warning signals were going off on Andrews Road and U.S. 1 north in northern Nassau County when a 38-year-old woman continued to cross, according to the Florida Highway Patrol. Her car was hit by a southbound CSX train around 4:44 p.m. Friday. Her sedan was pushed off the tracks into an electrical box off to the side. The woman died. The CSX train activated its emergency stopping protocolTroopers are looking into the incident and working to identify the Hillard woman.
CSX plans to buy regional railroad in northeastern U.S.
– CSX is acquiring a regional railroad in New England to bolster its network in the northeastern United States, but a rival railroad says the deal could hurt competition. If regulators approve the deal, CSX would also acquire Pan Am's partial ownership of a 600-mile joint venture with Norfolk Southern railroad called Pan Am Southern. Earlier this month, Norfolk Southern raised concerns about this deal with the Surface Transportation Board because it said allowing CSX to buy Pan Am could undermine competition between CSX and Norfolk Southern in the eastern United States. CSX already operates more than 21,000 miles (34,000 kilometers) of track in 23 Eastern states and two Canadian provinces. Norfolk Southern’s network of 19,500 miles of track covers much of the same territory as CSX in 22 Eastern states.
Three transports stocks to watch as earnings season gains speed
American Airlines, Southwest and Union Pacific will report Thursday morning. Bapis also points to Union Pacific as a standout transports stock, highlighting its 2% dividend yield and reasonable price-to-earnings ratio as two pros. Union Pacific has gained 10% in 2020, outpacing the IYT ETF's 6% gain. Robinson is set to report earnings on Tuesday. Vios holds shares in Union Pacific.
cnbc.comHow to trade a breakout in transports stocks
Transports were in the red Wednesday ahead of a busy stretch for the group. CSX is set to report earnings after the bell Wednesday and American Airlines, Southwest and Union Pacific are set for Thursday. Todd Gordon, founder of TradingAnalysis.com, is betting on a breakout for this slice of the industrials sector. "Perhaps we'll start to see a little bit of a rotation out into the transports here again as the economy comes back online." Gordon noted that the IYT transports ETF entered a stretch of consolidation from 2017 through to the beginning of this year.
cnbc.comA chipmaker and railroad stock: Traders share the top earnings reports to watch
CSX "is a very interesting company that actually has gone largely sideways over the last couple years. Mark Newton, founder of Newton Advisors, is looking to rail stock CSX as a barometer for the economy and the consumer. CSX has risen 11% so far this year, slightly more than the 10% gain for the Dow transports. Texas Instruments yields 2.7%, while the SMH semiconductor ETF yields 1.1%. So, ex-autos they were up 8% so if autos come back, we think that's going to be bullish," said Tengler.
cnbc.comStocks making the biggest moves after hours: Gap, CSX and Progress Software
Check out the companies making headlines after hours on Tuesday:Gap Inc. Stock of the clothing retailer was up more than 4% in extended trading after the company announced it no longer planned to spin-off Old Navy into a separately traded public company. The company also announced that Neil Fiske, president and CEO of the Gap brand, is departing. CSX Shares of the transportation company were down more than 3% in extended trading after CSX reported quarterly revenues of $2.89 billion, which missed analysts' estimates of $2.92 billion. Progress Software The software developer's shares were up more than 9% in extended trading after the company reported a 19% increase in quarterly revenue to $117 million. The company also announced the appointment of a new chief financial officer and said its current CFO is retiring.
cnbc.comOptions trader makes a big bet on volatility into CSX earnings
CSX kicks off a big slate of earnings for the transports after the bell Thursday. However, options traders aren't quite ready to go all in on CSX. The options market is implying a move of about 4% in either direction between when CSX reports and Friday's close. "When you buy a straddle, you're betting on volatility, and that's what this trader is betting: that the stock will be more than 4% higher or lower by Friday when these options expire." The way this bet works out, this trader's break-even level would be about $2.88 higher or lower than that synthetic 75-strike price by Friday.
cnbc.comThree before you leave What to watch for Friday including American Express, Coke earnings
A bottle of Diet Coke is pulled for a quality control test at a Coco-Cola bottling plant in Salt Lake City, Utah. Earnings off to a strong start: Will it continue? Earnings season kicked off with a bang this week, and a host of companies are set to report quarterly results Friday including American Express, Coca-Cola, and Kansas City Southern. For Coke, analysts are expecting the company to report EPS of $0.56 and $9.43 billion in revenue. Rail operator Kansas City Southern's report will be in focus following mixed results from its competitors.
cnbc.comRailroads to renew push for one-man crews
- The biggest U.S. freight railroads appear ready to renew their push to reduce their crews to one person from the current two-man operation used at major railroads now. Labor agreements requiring two-person crews have been in place for roughly 30 years at the major railroads, although many short-line railroads operate with one-man crews already. Earlier this year, the Federal Railroad Administration abandoned a proposed rule to require two-man crews because it said there wasn't enough evidence to show they are safer. All the major railroads are required to have those systems operating by the end of 2020. The railroad industry has emphasized that crash data doesn't show that two-man crews are safer than one-person crews.
Rail Safety Week: How to stay safe around railroad tracks
With this being Rail Safety Week, people are being reminded it only takes a second to stop, look and listen. "Railroad crossings are the most visual crossings that you'll have," said Master Sgt. State troopers said one of the biggest problems they see are drivers stopping on the railroad tracks, which is illegal and dangerous. The Highway Patrol and CSX police are teaming up for Rail Safety Week and will be at numerous railroad intersections to educate drivers and pedestrians about the importance of following the law at railroad crossings, according to FHP. VIEW: Rail Safety Week tips for pedestrians and driversIf there is ever a problem or malfunction with the railroad crossing, people can call the number on the blue emergency notification signs located at every crossing area.
Nassau County railroad repair work to close crossings, neighborhood roads
NASSAU COUNTY, Fla. - Nassau County residents in the Callahan and Bryceville communities are upset about last-minute work being done to the CSX railways, which will close down the ways they get in and out of their neighborhoods. County leaders on Thursday shared a notice about temporary but necessary repairs to several railroad crossings to prevent future train derailments. "This is the first week back for Nassau County schools next week," McDonald said. CSX officials did not comment on camera, but a spokesperson sent News4Jax this statement:"CSX is conducting maintenance work on the companys rail line in Nassau County, Florida. Id like to see something done before Tuesday before this finally occurs.News4Jax attempted to contact Nassau County Manager Mike Mullen on Friday afternoon, but had not heard back as of the time of this story.
NTSB: Train crash that killed Orange Park man caused by safety oversights
An aerial view of the site of an early morning train crash Sunday, Feb. 4, 2018, between an Amtrak train, bottom right, and a CSX freight train, top left, in Cayce, SC. COLUMBIA, S.C. - Federal safety officials ruled Tuesday yet another fatal train crash in the United States has been caused by easy-to-fix human errors. The National Transportation Safety Board determined the crash of an Amtrak train into a parked train on a side track near Columbia, South Carolina, in February 2018 was CSX's fault. CSX also plans to have Positive Train Control in place, tested and operational where required by the end of 2020, company spokeswoman Cindy Schild said. In the 2018 South Carolina crash, Amtrak engineer Michael Kempf, 54, of Savannah, Georgia, and conductor Michael Cella, 36, of Orange Park, Florida, were killed.
Stocks making the biggest moves midday: CSX, Nu Skin, Ralph Lauren, Seattle Genetics & more
Check out the companies making headlines midday on Wednesday:CSX CSX dropped 10.3% after the transportation company's second-quarter earnings missed estimates and it cut its revenue forecast. The company's results were driven by strong organic revenue growth in uniforms and First Aid kits. The company's results were impacted by lower trading commissions and an 8% rise in expenses. Seattle Genetics Seattle Genetics rose 18.9% as investors cheered record sales of Adcetris, a drug used to treat Hodgkin's lymphoma. Piper Jaffray raised the company's stock to overweight from neutral, citing the drug's strong performance.
cnbc.comAfter a great start to earnings season, overall profits are no longer expected to decline
The earnings season began this week, with 43 S&P 500 companies reporting as of Wednesday morning, and a whopping 84% beating analysts' estimates. The stock market, meanwhile, has traded sideways to slightly lower on thin volume this week, as earnings rolled out. I guess the way to think about it is we're a little cautious, but we think stock prices will work higher over the course of the year," said Keon. Tech earnings aheadCitigroup kicked off bank earnings on Monday, followed by J.P. Morgan, Goldman Sachs and Bank of America, among others. Financial companies' earnings are now expected to grow 8.7% for the quarter, up from expectations for growth of 5.6% on July 1, according to Refinitiv.
cnbc.comCEO of railroad giant CSX says the economy is the 'most puzzling' he's seen as stock plummets
The CEO of giant East Coast railroad operator CSX is sounding alarm on the U.S. economy as it weighs on the company's shipping volumes. "Both global and U.S. economic conditions have been unusual this year, to say the least, and have impacted our volumes. Foote has worked in the railroad industry for more than 40 years and has been CEO of CSX since 2017. Before the earnings report, CSX had a stellar performance this year with its stock surging a whopping 28%. But like other big transports, CSX is starting to feel the pain from the ongoing trade war between the U.S. and China.
cnbc.comDeputies: Pedestrian hit & killed by CSX train in Lawtey
LAWTEY, Fla. - One person died Wednesday morning after they were hit by a CSX train in Lawtey, according to the Bradford County Sheriff's Office. The Sheriff's Office said the incident happened sometime in the late morning at a rail cross along County Road 125, shutting down traffic in the area for several hours. It wasn't immediately clear what led up to the train striking the unnamed pedestrian. Deputies said the circumstances of the crash remain under investigation. Copyright 2019 by WJXT News4Jax - All rights reserved.