CSX profit falls 22% but investors focus on the direction the new CEO will take the railroad

Investors looked past a 22% drop in CSX’s third quarter earnings Thursday and focused on the direction the railroad’s new CEO might take it and the possibility of any strategic deals. CEO Steve Angel promised to focus on making CSX the best-performing railroad. Without promising a merger, Angel said he would consider any strategic opportunities that make sense for shareholders. He also reminded investors that he ran industrial gas supplier Praxair for a decade before the opportunity to merge with rival Li ...