Railroad stocks are extending a recent upward move on Thursday, posting notable gains despite today's lackluster outing in the broader markets. The advance in the sector comes as traders focus on news from CSX Corp. (CSX), which said it expects a substantial pick up in earnings in 2010.
The gains by railroad stocks are contributing to a 0.8 percent advance by the Dow Jones Railroads Index. With the gain, the average is moving higher for the sixth straight session has reached its best intraday level in over seventeen months.
At a transportation conference yesterday, CSX Executive Vice President and Chief Financial Officer Oscar Munoz said the firm's full-year 2010 earnings are likely to grow by double digits amid increased coal shipments.
Subsequently, shares of CSX are currently 1.2 percent after setting a two-month intraday high in earlier dealing.
Greenbrier Co. (GBX) is also moving notably higher on the day, climbing by 3 percent. With the gain, shares are on pace to set a two-month closing high.
Genesee & Wyoming Inc. (GWR), Union Pacific Corp. (UNP) and Canadian Pacific Railway Limited (CP) are also seeing buying interest, further boosting the sector.
Meanwhile, shares of American Railcar Industries (ARII) are bucking the uptrend, sliding by 0.5 percent. The decline is pulling the stock off the seven-week closing high set yesterday.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.