Yahoo Finance Why Is Norfolk Southern Corporation (NSC) Stock Soaring Today
What Happened:
Shares of freight transportation company Norfolk Southern (NYSE:NSC) jumped 12.2% in the afternoon session after the company reported second-quarter earnings results that exceeded analysts' revenue expectations by a small amount but exceeded EPS expectations by a convincing amount. Overall, this quarter seemed strong and shareholders should feel optimistic.
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What is the market telling us:
Norfolk Southern Corporation's shares are not very volatile than the market average and over the last year have had only 2 moves greater than 5%. Moves this big are very rare for Norfolk Southern Corporation and that is indicating to us that this news had a significant impact on the market's perception of the business.
Norfolk Southern Corporation is up 5.9% since the beginning of the year, and at $249.44 per share it is trading close to its 52-week high of $263.13 from March 2024. Investors who bought $1,000 worth of Norfolk Southern Corporation's shares 5 years ago would now be looking at an investment worth $1,314.
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