Railroad Stocks Rally As CSX Poised For Best Gains In 36 Years

Railroad stocks gained on Thursday, bolstered by CSX Corp. which is poised for its best percentage gains since November 1980. CSX soared on reports that it is being targeted by activist investors after two days of losses following subdued results. Union Pacific Corp. also posted better-than-expected earnings, suggesting that slumping demand for freight on the back of weak commodities may be easing. Norfolk Southern Corp. and Kansas City Southern traded higher, pushing the S&P 500's industrials sector to outperform the broader market. The S&P 500 is off 2 points to 2,269.