Union Pacific tops forecast

The freight railroad operator reports strong earnings despite higher fuel costs and economic headwinds; offers third-quarter guidance above consensus. Paste this link into your favorite RSS desktop reader NEW YORK (AP) -- Booming shipments of coal, grain and fertilizer coupled to improved productivity drove Union Pacific Corp.'s second-quarter earnings up 19%, despite the impact of rising fuel costs and Midwest floods. The nation's largest freight railroad operator also issued a third-quarter earnings prediction above analysts' current views, expecting strong pricing to counter volumes dragged lower by a softening U.S. economy. The Omaha, Neb.-based company also issued a full-year earnings prediction within a range of what Wall Street expected. The company earned $531 million, or $1.02 per share in the second-quarter,... [read full story]