CSX Corp.Revenue growth of more than 20% carried CSX Corp. ( CSX) to a better than expected profit in the fourth quarter, sending the stock up more than 2% to $69.15 on volume of more than 400,000 in after-hours action. The Jacksonville, Fla.-based railroad operator said it earned $430 million, or $1.14 a share, on revenue of $2.82 billion for the three months ended Dec. 31, 4 cents ahead of the average estimate of analysts polled by Thomson Reuters for a profit of $1.10 a share on revenue of $2.67 billion. CSX shares have jumped 53.3% in the past 52 weeks, and Wall Street remains mostly bullish with 23 of the 32 analysts covering the company at either strong buy (10) or buy (13). The median 12-month price target of $75 implies potential upside of almost 11% from Monday's regular session close at $67.71.
Texas InstrumentsShares of Texas Instruments ( TXN) were down almost 3% to $33.75 on volume of around 570,000 after the chip maker reported its fourth-quarter results. The company came in a penny ahead of Wall Street's profit view for the December period but its outlook offered some downside to current analyst expectations and orders fell on a sequential basis for a second straight quarter.
Texas Instruments reported earnings of $942 million, or 78 cents a share, for the three months ended Dec. 31. Those results included a gain of 14 cents a share related to an asset sale and a tax benefit. Backing out the gain, the company earned 64 cents a share in the latest quarter, edging the average analysts' view. Revenue came in at $3.53 billion for the December period, up 17% from the year-ago equivalent total of $3.01 billion, and incrementally ahead of the consensus estimate. On Dec. 7, the company tightened its outlook for the fourth quarter, forecasting earnings of 61 to 65 cents a share on revenue of $3.43 billion to $3.57 billion. Orders stood at $3.13 billion at quarter's end, down 4% from last year and off 9% on a sequential basis.