Digital World Acquisition Corp
Change company Symbol lookup
Select an option...
DWAC Digital World Acquisition Corp
TMP Tompkins Financial Corp
CCF Chase Corp
CHKP Check Point Software Technologies Ltd
GGXXF Ggx Gold Corp
ICE Intercontinental Exchange Inc
AICAF Air China Ltd
LGF.A Lions Gate Entertainment Corp
COMM CommScope Holding Company Inc
ENVB Enveric Biosciences Inc

Company profile

Digital World Acquisition Corp is a blank check company. The Company is formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The Company intends to focus on companies in the healthcare industry in the United States. The Company is not engaged in any business operations and has not generated any revenue.

Closing Price
Day's Change
0.01 (0.07%)
B/A Size
Day's High
Day's Low
(Below Average)

10-day average volume:

CSX set to boost rail network performance, say analysts

8:35 am ET October 25, 2022 (MarketWatch)

By James Rogers

CSX, which delivered a third-quarter earnings beat and robust guidance last week, is well positioned to boost the performance of its rail network, say analysts

CSX, which delivered a third-quarter earnings beat and robust guidance last week, is well positioned to boost the performance of its rail network, analysts say.

The railroad company's stock rose 1.49% before market open on Monday, after ending Friday's session up 1.7%. CSX Corp. (CSX) shares have fallen 26.76% this year, outpacing the S&P 500 Index's decline of 21.26%. The iShares Transportation Average ETF (IYT) has fallen 26.06% in 2022.

The Jacksonville, Fla.-based company's third-quarter revenue was $3.9 billion, an 18% increase on the same period last year, which CSX attributed to a higher fuel surcharge, pricing gains, a 2% increase in volumes and an increase in storage and other revenues. CSX, whose rail network covers much of the U.S. east of the Mississippi River, also maintained its full-year sales outlook for double-digit growth, excluding impacts from a real-estate transaction in Virginia.

CSX earned 52 cents a share, up from 43 cents a share in the prior year's quarter. Operating income was $1.58 billion, a 10% increase on the same period last year. Analysts surveyed by FactSet were looking for revenue of $3.74 billion and net income of $1.06 billion.

See Now: CSX rallies on earnings beat, while Union Pacific stock lags

Raymond James raised its CSX price target to $33 from $31 on Friday, pointing to the company's efforts around so-called precision scheduled railroading, which focuses on the movement of individual train cars, rather than whole trains. A key railroad industry trend of recent years, PSR aims to boost efficiency by streamlining operations.

"CSX continues to execute its PSR initiatives that we expect will continue to drive operational improvement, translating to stronger revenues, margin, EPS, and FCF gains in coming years," wrote Raymond James analyst Patrick Tyler Brown.

Raymond James maintained its outperform rating for CSX.

Benchmark reiterated its CSX buy rating and $32 price target in a note released on Monday, noting the company's earnings beat and top-line growth, which is offsetting higher expenses. "Looking forward, CSX maintained its full-year guidance and noted strong pricing," wrote Benchmark analyst Nathan Martin. "Network performance is also on an upward trend as CSX continues to add manpower."

See Now: Why a possible railroad strike would cripple the supply chain, stoke inflation

Improved service and capacity should give the company the ability to move more traffic as demand continues to outpace availability, especially in areas like coal and agricultural products, according to Martin. "Furthermore, management noted the opportunity to win share with existing customers as well as new ones," the analyst wrote.

Of 29 analysts surveyed by FactSet, 19 have an overweight or buy rating, nine have a hold rating and one has a sell rating on CSX.

Union Pacific Corp. (UNP), whose network is focused on the Western two-thirds of the country, also beat third-quarter profit and revenue expectations last week. But the company cut its outlook for carload growth and share repurchases, initially weighing on its stock.

Union Pacific shares rose 0.77% before market open on Monday.

-James Rogers


(END) Dow Jones Newswires

October 25, 2022 08:35 ET (12:35 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

Earnings Calendar and Events Data provided by |Terms of Use| © 2023 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., ,, and

Copyright © 2023. All rights reserved.