CSX what is going on there

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northstar16
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CSX what is going on there

Unread post by northstar16 »

Been watching the business news of late and have noticed the there is something brewing at CSX. A board shake up is under way, a special shareholders meeting and CSX is cutting 1000 employees. Today CSX announced it is cutting many management positions as early as March. Their CEO on the Board is stepping down and Harrison is moving in looks like he wants major money major board shake up could spell a turnaround in the company profits. I as a shareholder has done very well recently as the stock has gone up from 26 to 46 a share and higher. Could even be 50 by middle of next month or sooner. With more cuts on the way and CSX getting more business the stock could even go higher. It will be interesting to see what happens next.

Meanwhile NS must be doing okay. Haven't heard much about them in many weeks after a fizzled out takeover bid months back.

heypal6878
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Re: CSX what is going on there

Unread post by heypal6878 »

A major shakeup for sure is going on at CSX. If the railroad pays out the money that this guy is asking and the shareholders approve it this would be a sham. Not sure if a new board is going to turn more profits for CSX as shipments are down and it doesn't appear to get better this year.

hoborich
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Re: CSX what is going on there

Unread post by hoborich »

I also watch the stock, and much of it's upside seems to be mostly speculation and partly due to the "Trump effect" which took the entire market up. Not sure if I want to get in at these lofty levels, or wait for a pullback.
"Ask your doctor if medical advice from a TV commercial is right for you".

heypal6878
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Re: CSX what is going on there

Unread post by heypal6878 »

Agree the market is over bought CSX is hot right now because of the market and Trump. Big business loves this new policies and stocks are really high. Think soon you will see a major decline on stocks however CSX has some positive momentum with the shake up in progress. Can't see it going over 50 a share with shipments down oil and coal down I mean it maybe a false echo here. I'm watching the stock closely and may sell if the price starts to fall back. Think CSX is a good play long term but think there is a big risk if this new guy get the money he is expecting. Think that would be a bad move for shareholders. We will see.

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redcrumbox
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Re: CSX what is going on there

Unread post by redcrumbox »

Merger.
Old EMD’s are the gift that keeps on giving.

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trainjunkie47
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Re: CSX what is going on there

Unread post by trainjunkie47 »

One problem CSX has is a reliance on coal revenue that none of the other Class I roads have.....NS is the only road which comes close. Even if Trump and Congress relax every rule out there, most utilities already have plans in the works to close coal plants in favor of gas turbines, or alternative energy sources. Most remaining coal plants have been, or are in the process of, being weened off of high sulfur eastern coal. China has its own coal, and industrial Europe increasingly does not want it either. The writing is on the wall for eastern coal, regardless of who does what.

If you are looking for a rail stock, I could name numerous reasons why CN and UP are logical picks.

mmi16
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Re: CSX what is going on there

Unread post by mmi16 »

redcrumbox wrote:Merger.
EHH

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trainjunkie47
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Re: CSX what is going on there

Unread post by trainjunkie47 »

I'll keep my CN stock. I like CSX, but I can think of several reasons why CN is a better investment.

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