CSX Shares Rise After Earnings Beat, Added Buyback

CSX Corp. shares rose in the extended session Tuesday after the railroad operator reported quarterly results above Wall Street estimates and expanded its share buyback program. Shares of CSX rose 3.1% to $56.32 after hours. The company reported adjusted second-quarter earnings of 64 cents a share on revenue of $2.93 billion. Analysts surveyed by FactSet had estimated earnings of 59 cents a share on revenue of $2.85 billion. CSX announced its board added another $500 million in share repurchase authorization, raising the current authorization to $1.5 billion.