This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Sector Snap: Shares Of Railroad Companies Slide

NEW YORK (AP) â¿¿ Shares of railroad companies tumbled Wednesday on concerns about lower coal shipments. Coal is a major category for railroads, and a significant drop in coal shipments could hurt railroad company profits.

On Wednesday, Alpha Natural Resources Inc. said it would ship less coal this year than it had previously expected because of declining demand from Asia and production shortfalls at some U.S. mines. Another company, Walter Energy Inc., also cut its coal production forecast for the second half of the year, and shares of coal companies declined broadly.

Railroads and coal companies posted some of the deepest declines in the stock market Wednesday.

In midday trading, railroad CSX Corp. dropped $1.13, or 6 percent, to $19.10. Over the past 52 weeks, its shares have traded between $17.98 and $27.06, and are down 26 percent in the past three months.

Norfolk Southern Corp. shares tumbled $3.91, or 5.8 percent, to $63.63; Union Pacific Corp. lost $1.95, or 1.7 percent, to $86.66; and Genesee & Wyoming Inc. fell 81 cents to $48.69.
Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs