On Wednesday, Shares of CSX Corp. (NYSE:CSX), lost -1.50% to $27.53.
CSX Corporation Chief Financial Officer Frank Lonegro reinforced the companys 2015 guidance and outlined expectations for key markets in 2016 at the Baird Industrial Conference in Chicago.
CSX has leveraged its diverse portfolio and network reach to compriseently deliver record earnings per share growth, despite declines in coal revenue of more than $1 billion over the past four years, Lonegro said. While we expect the energy market headwinds to continue in 2016, we are focused on capturing opportunities in intermodal and industrial markets, and on delivering excellent service for customers to support our pricing, growth and efficiency targets.
Facing continued headwinds in the energy markets, CSX anticipates fourth quarter 2015 earnings per share to decline slightly contrast to the same period in 2014. The company continues to target mid-single digit full-year earnings per share growth as intermodal growth and efficiency initiatives offset about $450 million in coal revenue declines.
CSX also continues to expect meaningful margin expansion in 2015 and a mid-60s operating ratio longer term as the company leverages longer trains, drives industrial development to leverage merchandise growth, continues investing in intermodal, and matches resources to business demand across its coal network.
CSX Corporation, together with its auxiliaries, provides rail-based transportation services in the United States and Canada. It offers traditional rail services, and transports intermodal containers and trailers. The company transports crushed stone, sand and gravel, metal, phosphate, fertilizer, food, consumer, agricultural, automotive, paper, and chemical products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, in addition to exports coal to deep-water port facilities.
Shares of Discovery Communications, Inc. (NASDAQ:DISCA), inclined 1.83% to $30.61, during its last trading session.
Discovery Communications, declared that President and CEO David Zaslav will present at the 2015 UBS Global Media and Communications Conference at 2:30 p.m. ET on Monday, December 7, 2015, at the New York Hilton Midtown in New York, NY.
Discovery Communications, Inc. operates as a media company. The company operates through U.S. Networks; International Networks; and Education and Other segments. The company owns and operates television networks under the brands, such as Discovery, TLC, Animal Planet, Investigation Discovery, Science, Velocity, Discovery Family, American Heroes, Destination America, Discovery Life, Oprah Winfrey network, Eurosport, DMAX, and Discovery Kids.
Finally, Shares of Anadarko Petroleum Corporation (NYSE:APC), ended its last trade with -3.80% loss, and closed at $61.01.
Anadarko Petroleum Corporation, is abandoning a takeover bid for Apache after its rival spurned an all-stock offer, according to AP.
The company confirmed a bid, first stated this week by Bloomberg, but said Wednesday that Apache rejected its offer to enter into a confidential agreement to explore a deal, adding that no substantial negotiations took place.
Shares of both companies slid together with the price of oil, which fell 3 percent. A barrel of oil was going for less than $43 Wednesday, which is part of the reason why tie-ups are so difficult for energy companies even in a time of falling energy prices and falling stock prices for energy companies.
It has become extremely difficult to come to a contract about the value of an energy company with the price of oil and gas swinging wildly. AP Reports
Anadarko Petroleum Corporation engages in the exploration, development, production, and marketing of oil and gas properties. It operates through three segments: Oil and Gas Exploration and Production; Midstream; and Marketing. The Oil and Gas Exploration and Production segment explores for and produces natural gas, oil, condensate, and natural gas liquids (NGLs).
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