CSX Corp. (CSX) - Get Report reported net income of $1.01 a share on revenue of $3.14 billion after the bell on Wednesday. The company had been expected to report earnings of 99 cents a share on sales of $3.1 billion, based on a FactSet survey of 25 analysts.
In the same period a year ago the company posted earnings of 64 cents a share on sales of $2.9 billion. The company said its board had authorized a new $5 billion share buyback program following early completion of a previous $5 billion buyback program.
Shares fell 2% in after-hours trading to $64.05.
Real Money Pro's Bruce Kamich examined CSX shares from a technical perspective. To find out more, click here.
Goldman Sachs shares rose after the bank swung to a profit in its first quarterly report under new CEO David Solomon.
Bank of America doubled its profit in the fourth quarter and beat analyst estimates.
BlackRock Inc., the largest U.S. money manager, reported its first drop in profit in two years as market turmoil in late 2018 hit investment-advisory fees and caused assets under management to drop below $6 trillion.
Among banks that reported earlier this week, Wells Fargo (WFC) - Get Report managed to beat estimates in the latest quarter, but saw its shares fall Tuesday after CEO Tim Sloan said the financial giant will likely continue to operate under Federal Reserve sanctions through the end of the year.
Notwithstanding their immediate challenges, Real Money Pro columnist Doug Kass says banks are a "must own" for the long term and may be the most attractively valued industry group in the S&P index. Find out how you can read Doug's comments here.
Goldman Sachs Group and JPMorgan Chase are holdings in Jim Cramer's Action Alerts portfolio. Want to be alerted before Jim Cramer buys or sells GS or JPM? Learn more now.
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