Key Takeaways CSX finalized a five-year labor agreement with BLET, covering 3,400 locomotive engineers. The deal mirrors prior agreements with 13 unions, now covering 75% of CSX's unionized workforce. CSX continues talks with SMART-TD, aiming to unify its labor structure under a single-system agreement.CSX’s (CSX) successful ratification of a five-year labor agreement with the Brotherhood of Locomotive Engineers and Trainmen (“BLET”) marks a pivotal achievement in its labor relations strategy. Covering ap ...

CSX Corporation (NASDAQ: CSX ) has a long history of ups and downs , but it is still very important for the eastern United States. CSX owns 20,000 miles of tracks that transport everythingHi there! I’m Narek, and I’ve been in the investment world for over six years. I started out as an equity analyst at European banks, digging into reports and learning how to spot value in the markets. I’ve worked across sectors — from telecom to industry — and found that behind every financial statement is a real story. I ...

Group 1: Union Pacific - Union Pacific is recommended as a good stock to own by Jim Cramer, supported by BofA Securities analyst Ken Hoexter who maintained a Buy rating and raised the price target from $256 to $262 [1][1][1] - On the trading day, Union Pacific shares fell 0.4% to settle at $225.72 [5] Group 2: BioMarin Pharmaceutical - BioMarin agreed to acquire Inozyme for $4.00 per share in an all-cash transaction totaling approximately $270 million [1] - BioMarin shares fell 0.6% to settle at $57.16 [5] Group 3: ARS Pharmaceuticals - Jim Cramer expressed a positive outlook on ARS Pharmaceuticals, stating it has valuable technology that someone will pay for, especially after the company posted better-than-expected sales for the first quarter [2][2] - ARS Pharmaceuticals shares fell 2.4% to settle at $14.34 [5] Group 4: GitLab - GitLab's second-quarter sales guidance was below estimates, with adjusted EPS expected between 16 and 17 cents and revenue between $226 million and $227 million, compared to the analyst estimate of $227.16 million [2][2] - GitLab shares fell 10.6% to close at $43.37 [5] Group 5: NuScale Power - Jim Cramer indicated interest in buying NuScale Power if it conducts a stock offering, following a recent event with Oklo [3] - UBS analyst Jon Windham maintained a Neutral rating on NuScale Power and raised the price target from $17 to $34 [3] - NuScale Power shares jumped 20.4% to close at $41.60 [5]

Core Points - CSX Corporation announced the ratification of a five-year collective bargaining agreement by employees represented by the Brotherhood of Locomotive Engineers and Trainmen (BLET), covering approximately 3,400 locomotive engineers, marking a significant milestone as the first ratification reached by a Class I freight railroad with BLET [1][2] - The ratified agreement includes general wage increases and health and welfare improvements, aligning with agreements CSX has reached with 13 other unions [2] - Locomotive engineers constitute about 20% of CSX's frontline workforce, and nearly 75% of CSX's unionized workers are now covered by new agreements reached in the last 10 months, with ongoing negotiations with the remaining major workgroup, trainmen/conductors represented by SMART-TD [3] Company Overview - CSX, based in Jacksonville, Florida, is a leading transportation company providing rail, intermodal, and rail-to-truck transload services across various markets, including energy, industrial, construction, agricultural, and consumer products [4] - The company has played a critical role in the economic expansion and industrial development of the nation for nearly 200 years, connecting major metropolitan areas in the eastern United States and linking over 240 short-line railroads and more than 70 ports with population centers and farming towns [4]

Investment Plans - CN plans to invest approximately $75 million in Mississippi as part of its 2025 capital investment program, focusing on track maintenance and strategic infrastructure initiatives [1][2] - In 2024, CN invested approximately $56 million in Mississippi for similar purposes, including $250,000 for upgrades at the Jackson railyard and capacity building on the Beaumont Subdivision [2] Strategic Importance - The investment aims to ensure the safe movement of goods and support long-term sustainable growth in Mississippi and across CN's network [1] - CN's President and CEO emphasized that investing in the network is about building for the future and enhancing the resiliency and efficiency of operations [2] Community Impact - Local officials, including the Southern District Transportation Commissioner, acknowledged CN's critical role in the state's transportation and business sectors, highlighting the focus on safety and community strengthening [2]

Core Viewpoint - CN plans to invest approximately US$170 million in Illinois as part of its 2025 capital investment program, focusing on track maintenance and strategic infrastructure initiatives [1][2]. Investment Details - The investment will support the construction of the Chicago Logistics Hub and upgrades to technology and training facilities at CN's Homewood Campus, along with network improvements [1]. - In 2024, CN invested approximately US$234 million in Illinois for similar initiatives, emphasizing the company's commitment to infrastructure development [2]. Economic Impact - CN's investments are aimed at strengthening the resiliency and efficiency of its network, which is expected to support economic growth in North America and the communities where it operates [2]. - The company has been recognized as a significant community partner in Will County, highlighting its ongoing commitment to regional success [2]. Financial Contributions - Specific allocations from the 2024 investment included over US$54 million for a four-mile siding extension in the Greater Chicago area, enhancing corridor capacity by 17% [5]. - Additional investments included more than US$15 million for new equipment and approximately US$10 million to improve intermodal operations in the Greater Chicago area [5]. Operational Overview - CN operates approximately 1,256 railroad route miles and employs around 1,667 individuals [5]. - In 2024, CN reported local spending of US$1.0 billion and cash taxes paid amounting to US$46 million [5].

Norfolk Southern (NSC) 2025 Conference June 10, 2025 11:15 AM ET Speaker0 All right, great. Going to go ahead and get started continuing on the rail track. At the conference this morning, we're very pleased to be joined by Norfolk Southern. From Norfolk, we have John Operating Officer and Jason Zanpey, Chief Financial Officer. Gentlemen, thanks very much for joining us. I think I saw Michael Barr and Luke are also in the audience, so thanks guys for joining and welcome to the conference. Speaker1 Thanks Chr ...

Union Pacific (UNP) 2025 Conference Summary Company Overview - **Company**: Union Pacific (UNP) - **Date of Conference**: June 10, 2025 - **Speakers**: Jim Bene (CEO), Jennifer Hayman (CFO) Key Points Industry Insights - **Railroad Operations**: The railroad industry is influenced by various factors including political, regulatory, and community interactions. Efficient operations are crucial for maintaining service quality and customer satisfaction [6][10][12]. - **Car Velocity**: A key performance metric, with current train speeds reported at over 20 miles per hour, indicating strong operational fluidity [9][10]. Financial Performance - **Carloadings**: Carloadings increased by 5% quarter-to-date, with bulk loadings up 12% and coal loadings up nearly 35% due to higher natural gas prices and new contracts [16][17]. - **Intermodal Volumes**: Intermodal volumes have decreased by 7%, indicating a potential slowdown in this segment [19][20]. - **Revenue Growth**: The company is optimistic about future revenue growth, particularly in coal and industrial sectors, despite some mixed performance in automotive and intermodal segments [21][52]. Operational Efficiency - **Service Quality**: The operational team has been recognized for their nimbleness in adapting to increased coal volumes, which were not initially forecasted [18]. - **Cost Management**: Union Pacific is focused on maintaining a sustainable business model that balances employee compensation with operational efficiency [71][74]. Market Outlook - **M&A Considerations**: The CEO expressed that while mergers could be beneficial for the industry, regulatory challenges make it a complex issue [25][26]. - **Tariff Impacts**: The company is monitoring tariff changes, particularly with China, which could affect future volumes [38][39]. - **Long-term Contracts**: Approximately 50% of the business is on long-term contracts, with opportunities for repricing due to inflation and improved service offerings [59][60]. Shareholder Value - **Stock Performance**: The company believes its shares are undervalued and is actively buying back shares, with a buyback program of $4 billion to $4.5 billion planned for the year [84][85]. Additional Considerations - **Labor Relations**: Union Pacific is negotiating labor contracts independently to better align with market conditions and employee needs [73][74]. - **Economic Indicators**: The company is optimistic about consumer spending, which could positively impact freight volumes [52][81]. Conclusion Union Pacific is navigating a complex landscape with a focus on operational efficiency, strategic growth in coal and industrial sectors, and maintaining strong shareholder value through stock buybacks. The company remains vigilant about market conditions, regulatory challenges, and labor relations as it aims to sustain its competitive edge in the railroad industry.

Group 1 - CN announced a public debt offering of C$500 million 3.500% Notes due 2030 and C$500 million 4.200% Notes due 2035, expecting to close the offering on June 10, 2025 [1][2] - The net proceeds from the offering will be used for general corporate purposes, including redemption and refinancing of outstanding indebtedness, share repurchases, acquisitions, and other business opportunities [2] - The debt offering is being made in Canada under CN's base shelf prospectus dated April 2, 2024 [2] Group 2 - Access to the prospectus supplement and the corresponding base shelf prospectus will be available through SEDAR+ within two business days [1][5] - An electronic or paper copy of the prospectus can be obtained from the joint bookrunners without charge [6]

Core Points - CN plans to invest approximately $80 million CAD in New Brunswick and Nova Scotia as part of its 2025 capital investment program to support track maintenance and infrastructure initiatives [1] - The investment aims to enhance rail operations, improve safety, and promote sustainable growth across CN's network in Atlantic Canada [1][2] - In 2024, CN had already invested around $84 million in the same regions for similar purposes, focusing on infrastructure maintenance [2] Investment Details - The 2025 investment includes over $5 million for a rail bridge upgrade on CN's Napadogan Subdivision in New Brunswick and approximately $4 million in improvements to CN's Autoport in Eastern Passage, N.S. [6] - In 2024, CN's local spending in New Brunswick was $55 million, with community investments totaling $687,000, while in Nova Scotia, local spending was $89 million with community investments of $453,000 [6] Company Overview - CN operates a nearly 20,000-mile rail network, transporting over 300 million tons of goods annually across North America, connecting various regions and contributing to sustainable trade [7]