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Norfolk Southern consolidates Virginia units to reduce costs

2016-01-14 01:00:00| Railway Technology

US rail company Norfolk Southern (NS) is consolidating its Virginia and Pocahontas units to form the new Pocahontas Division as part of its aim to reduce costs and support long-term growth.

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CP renews call for Norfolk Southern merger in white paper

2016-01-12 22:30:46| Railroads - Topix.net

Canadian Pacific Railway Ltd. has renewed its call for a merger with Norfolk Southern Corp. on Tuesday, this time in a nine-page white paper. The Calgary-based freight carrier said the $28-billion takeover of Virginia-based Norfolk Southern is needed to meet the current and future demands of North American economic growth, while easing rail congestion without the need to add track or terminals amid increasing government oversight.

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Norfolk Southern Corp.'s (NSC) "Hold" Rating Reiterated at Deutsche Bank

2016-01-12 03:44:02| Railroads - Topix.net

's stock had its "hold" rating restated by investment analysts at Deutsche Bank in a report issued on Monday, AnalystRatings.NET reports. They currently have a $83.00 price target on the railroad operator's stock, down from their previous price target of $93.00.

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Norfolk Southern Finds Allies in Spurning Canadian Pacific Takeover Bid

2016-01-11 18:02:44| Railroads - Topix.net

Norfolk Southern Corp. is gaining political and customer support for rejecting Canadian Pacific Railway Ltd.'s takeover bid, which could make it harder for the Canadian company and investor Bill Ackman to wage a proxy fight. The U.S. Surface Transportation Board on Jan. 8 posted on its website 17 letters from shippers and lawmakers expressing concern or opposition to the combination.

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Norfolk Southern Corp. (NSC) Position Boosted by M. Kraus & Company

2016-01-10 23:26:48| Railroads - Topix.net

M. Kraus & Company increased its stake in shares of Norfolk Southern Corp. by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission . The institutional investor owned 53,207 shares of the railroad operator's stock after buying an additional 1,208 shares during the period.

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