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Transport Stocks Rally on Upbeat Railroad Earnings

Investing.com

Investing.com - Transportation stocks were higher in midday trade after earnings from railroad carriers came in better than expected.

CSX Corporation (NASDAQ:CSX) and U,nion Pacific (NYSE:UNP) were higher after both companies showed an improvement in efficiency. CSX gained 2.4% after it beat Wall Street forecasts, while Union Pacific was up 1% even though its earnings missed. Kansas City Southern (NYSE:KSU) is expected to report its earnings before the morning bell on Friday.

The Dow Jones Transportation index extended its weekly gains to 2% and reached its best level in nearly a month. Still, the group remains near its sideways range as it remains sensitive to economic changes, Briefing.com reported.

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