CSX Drops on Disappointing Earnings

CSX Drops on Disappointing Earnings

Kate Austin, equity research analyst at Adviser Investments, has the market analysis for Wednesday, July 17. Major U.S. stock indexes declined, with the Dow Jones Industrial Average down 0.4%, the S&P dropping 0.7% and the NASDAQ Composite off 0.5%. Railroad company CSX missed revenue and earnings targets as a result of trade tensions and lower shipping volumes, sending its stock down more than 10% and weighing on other railroad companies. In the skies, increased demand sent United Airlines’ second-quarter profits up over 50% from last year—the stock was up only about 1% on the news.

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