By Sabrina Valle (Reuters) -The largest U.S. railroad union said Monday it will support Union Pacific's $85 billion acquisition of Norfolk Southern, helping to advance a deal that surprised competitors and had been expected to face resistance from labor and regulators. The endorsement marks a shift from the initial opposition by SMART-TD, the transportation division of the International Association of Sheet Metal, Air, Rail and Transportation Workers. When the merger was announced in July, the union said ...

Core Viewpoint - The largest railroad union in the United States, SMART, has expressed support for Union Pacific's proposed $85 billion merger with Norfolk Southern after obtaining job protection guarantees for its members [1] Group 1: Union Support - SMART's backing of the merger indicates a significant endorsement from a major labor organization, which could influence regulatory approval [1] - The job protection guarantees secured by SMART are crucial for alleviating concerns among union members regarding potential job losses resulting from the merger [1] Group 2: Merger Details - The proposed merger between Union Pacific and Norfolk Southern is valued at $85 billion, highlighting the scale of the transaction within the railroad industry [1] - This merger could reshape the competitive landscape of the railroad sector, potentially leading to increased efficiency and service improvements [1]

Core Points - The International Association of Sheet Metal, Air, Rail and Transportation Workers – Transportation Division (SMART-TD) and Union Pacific Railroad have reached a historic agreement to ensure job security for thousands of railroad workers during the proposed merger with Norfolk Southern [1] Group 1 - The agreement is significant as it represents a commitment to job security for SMART-TD members working in the railroad industry [1]

KUALA TERENGGANU: The gas pipeline leakage involving Petronas Gas Berhad at the East Coast Rail Link project site in Kerteh last Saturday will not affect the project’s progress according to Transport Minister Anthony Loke. Immediate action was taken to shut off the gas supply once the leak was detected followed by repair works by the relevant parties. Loke stated that gas pipeline leaks typically do not explode unlike the previous incident in Putra Heights making this a different situation. “Although there ...

Group 1 - The bank is set to earn $130 million from its involvement in the railroad megadeal between Union Pacific and Norfolk Southern [1]

Group 1 - The proposed merger between Union Pacific and Norfolk Southern is valued at $85 billion [1] - U.S. President Donald Trump expressed support for the merger, stating it "sounds good to me" [1]

Group 1 - Canadian National Railway Company (CNI) and CSX Corp. have signed a Memorandum of Understanding to create a new intermodal rail service into Nashville, Tennessee [1][3] - The new service aims to provide a seamless all-rail alternative for international containers from Canada's West Coast, enhancing supply chain efficiency [2][3] - The collaboration builds on a successful history of interline agreements between CNI and CSX, particularly their partnership on the East Coast since 2019 [3] Group 2 - The new route will travel through Memphis and continue directly into Nashville, replacing the current trucking segment with an all-rail solution [2] - This initiative is expected to deliver faster and more sustainable supply chain solutions for customers [2] - Canadian National Railway operates in rail, intermodal, trucking, and related transportation businesses in both Canada and the US [3]

Group 1 - Canadian National Railway Company (NYSE:CNI) is considered undervalued with a 2.7% yield and a low price-to-earnings multiple, making it an attractive investment option [1] - The company provides a range of services including rail, intermodal, trucking, and supply chain solutions, facilitating door-to-door transport and specialized cargo handling [1] - Canadian National is expected to benefit from increased freight volumes at Mexican and Canadian ports due to rising port fees for Chinese ships in the U.S. [1] Group 2 - Both Canadian National and CSX are well-positioned to take advantage of a tightening trucking market, as evidenced by rising tender rejections [1] - There are potential near-term risks for Canadian National, but its long-term valuation is considered favorable [1] - The article suggests that while CNI has investment potential, certain AI stocks may offer greater upside with less downside risk [1]

Core Viewpoint - Union Pacific Railroad's Big Boy No. 4014, the largest operating steam locomotive, will embark on a limited excursion between Wyoming and Colorado, showcasing the railroad's historical significance and innovation [1] Company Summary - The Big Boy locomotive symbolizes Union Pacific Railroad's heritage, emphasizing the company's strength, innovation, and resilience as a key player in the railroad industry [1] - CEO Jim Vena highlighted the importance of the Big Boy as a connector, reflecting the company's identity and historical legacy [1]

Upgrades Summary - RBC Capital upgraded Nike (NKE) to Outperform from Sector Perform with a price target of $90, increased from $76, citing a "steeper revenue recovery" than market estimates due to new product contributions and World Cup sales [2] - Needham upgraded Amicus (FOLD) to Buy from Hold with a price target of $14, indicating reduced regulatory risk for Amicus' DMX-200 following FDA's decision regarding Travere's Filspari [2] - Goldman Sachs upgraded Stepstone Group (STEP) to Buy from Neutral with a price target of $83, up from $64, expecting a 25% CAGR in management fees from 2024-28 driven by growth in Private Wealth and record levels of shadow AUM [2] - RBC Capital upgraded CSX (CSX) to Outperform from Sector Perform with a price target of $39, increased from $37, viewing CSX shares as well positioned for consolidation scenarios in the railroad sector [2] - Scotiabank upgraded Vale (VALE) to Outperform from Sector Perform with a price target of $14, up from $12.50, anticipating benefits from the upcoming "decarbonization wave" [2]