After the market closed today, Norfolk Southern Corporation (NSC) reported second-quarter diluted EPS of $0.66, down 44% from the $1.18 earned in the year-ago quarter, above consensus of $0.64, but below our estimate of $0.83, largely due to lower-than-expected revenues.

Total revenues declined 33% to $1.9 billion from $2.8 billion in the prior-year quarter, reflecting a 26% decrease in traffic volume and reduced fuel surcharge revenues. This compares to consensus revenue estimates of $2.05 billion and our estimate of $2.2 billion.

Volume was off more than we had anticipated, and was worse than the first quarter when volume fell 20%. While this is not entirely surprising, it was a disappointment, especially in view of somewhat better performances at Union Pacific Corporation (UNP), which posted a 22% volume decline, and CSX Corporation (CSX), which reported a 21% drop in volume.

All segments reported lower revenues during the quarter; the worst

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For Immediate Release

Chicago, IL – July 22, 2009 – Zacks.com announces the latest Industry Outlook. Today’s outlook from Zacks Equity Research analyst Ann Heffron discusses the Transportation sector. Highlighted stocks include: United Parcel Service, Inc. (UPS), FedEx Corporation (FDX) and CSX Corporation (CSX).

Here is the latest on the Transportation sector:

Stock performance in the transportation sector has been very uneven, reflecting the varying fortunes of particular industries within the sector. The median year-to-date-stock price gain/(loss) has been mixed for industries in the Zacks transportation universe, with all industries underperforming the S&P 500’s 3.3% increase, with the exception of railroads and air freight.

Air freight has been helped by large gains in smaller companies as the giants within the air freight sector, United Parcel Service, Inc. (UPS) and FedEx Corporation (FDX), are down 10.6% and 8.4% year to

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Stock performance in the transportation sector has been very uneven, reflecting the varying fortunes of particular industries within the sector. The median year-to-date-stock price gain/(loss) has been mixed for industries in the Zacks transportation universe, with all industries underperforming the S&P 500's 3.3% increase, with the exception of railroads and air freight.

Air freight has been helped by large gains in smaller companies as the giants within the air freight sector, United Parcel Service, Inc. (

...

Stock performance in the transportation sector has been very uneven, reflecting the varying fortunes of particular industries within the sector. The median year-to-date-stock price gain/(loss) has been mixed for industries in the Zacks transportation universe, with all industries underperforming the S&P 500's 3.3% increase, with the exception of railroads and air freight.

Air freight has been helped by large gains in smaller companies as the giants within the air freight sector, United Parcel Service, Inc. (

...

Stock performance in the transportation sector has been very uneven, reflecting the varying fortunes of particular industries within the sector. The median year-to-date-stock price gain/(loss) has been mixed for industries in the Zacks transportation universe, with all industries underperforming the S&P 500’s 3.3% increase, with the exception of railroads and air freight.

Air freight has been helped by large gains in smaller companies as the giants within the air freight sector, United Parcel Service, Inc. (UPS) and FedEx Corporation (FDX), are down 10.6% and 8.4% year to date, respectively. The railroads were helped when CSX Corporation (CSX) kicked off the second quarter earnings season earlier this week with better-than-expected earnings.

Railroads 11.8% Air Freight 5.1% Equip & Leasing (2.1)% Trucking (2.5)% Shipping (2.8)% Airlines (29.5)% Among the hardest hit industries ...

For Immediate Release

Chicago, IL - Apr 10, 2009 - Zacks.com releases the list of companies likely to issue earnings surprises. This week's list includes Intel Corporation (INTC), Crown Holdings (CCK), CSX Corporation (CSX) and Mattel, Inc. (MAT). To see more earnings analysis, visit http://at.zacks.com/?id=3207.

Every day, Zacks.com makes 4 stock picks available, free of charge. To see them, go to http://at.zacks.com/?id=3567.

The Week's Events

This will be the first busy week for earnings season. Though the total number of reports is limited, just 68, nearly half will be from large-cap and mega-cap companies.

Financials will be in particular focus. Citigroup (C), Goldman Sachs (GS) and  JPMorgan Chase (JPM) will release results. General Electric (GE) is also on the docket and all eyes will be on its finance division.

Outside the

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Intel Corporation (

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For Immediate Release

Chicago, IL - April 2, 2009 - Zacks.com releases the latest Zacks Industry Rank. Stocks featured in this week's analysis include Burlington Northern (BNI), Canadian National (CNI), CSX Corporation (CSX), Norfolk Southern (NSC) and Union Pacific (UNP).

Zacks Industry Rank Analysis is written by Charles Rotblut, CFA, Senior Market Analyst for Zacks.com.

Are Chipmakers Finally Stabilizing?

The Dow transports pretty much moved in lockstep with the broader markets during last month's rally. For followers of the Dow Theory, this was a positive sign.

The problem, however, is that there were nasty undercurrents at the same. Specifically, about 40% of the earnings estimates for Transportation-Railroad were cut in March. Among the companies targeted by the negative revisions are Burlington Northern (BNI), CSX Corporation (CSX), Canadian National (

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Highlighted stocks include Burlington Northern (...

Today, CSX Corporation (CSX) announced preliminary fourth quarter diluted EPS of roughly $0.90, excluding a $0.27 per share write-down in its investment of The Greenbrier resort in White Sulphur Springs, West Virginia -- up 6% from the $0.85 per share reported a year ago. This was well below consensus of $0.98 per share, our estimate of $0.99 per share, and previous CSX guidance of about $1.02-$1.12 per share.Revenues were expected to be about $2.7 billion, up 4% year over year from $2.6 billion last year, and compared to consensus of $2.77 billion and our estimate of $2.76 billion. As expected, volumes were significantly lower, though higher yields and fuel surcharge recovery helped results.Operating income rose approximately 16% to $692 million, with an operating ratio of 74.1%, a significant improvement over the 76.4% posted in last year's fourth quarter.The company will report its ...