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Transportation company $CSX posted lower 2Q16 results, hurt by low commodity prices, energy market transition & increased expenses. $CSX said net income fell 20% to $445MM, or $0.47 per share from $553MM or $0.56 per share a year ago. Revenue fell 12% to $2.704Bil, driven primarily by an overall 9% volume decline impacting nearly all markets.
$WBA is yet to receive US anti-trust clearance for its Rite Aid acquisition. The deadline for the deal expires on January 27.
$BMY plunge 7.2%. No credits to the non-acceleration of approval for lung cancer combination treatment.
Well this is big! I don’t know if it’s someone’s monopoly or genuine excitement, but either way, $CSX is up 23% after market closed. I heard some activist investor is going to blow big money into CSX Corp. Anyone mind explaining?