Glut: this would not have happened twenty years ago. Iran announces that it has indeed seized a foreign oil tanker and the crew of twelve. What did WTI do? WTI fell almost 3%; fell over $1.50/bbl, and is now trading barely above $55/bbl.
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UNP: wow, wow, and a triple wow. This is incredible important on many, many levels. Union Pacific earnings beat ... after CSX flops, Canadian Pacific tops. Reasons why this is important to me:
- yesterday analysts blamed CSX's "flop" on Trump (the Chinese trade war); it will be curious what those same analysts say now
- CSX: eastern half of the US
- UNP: western half of the US
- Warren owns BNSF: we won't see BNSF results any time soon, so UNP becomes a proxy for BNSF
- a breakdown of where UNP did well; what the future will hold
- forecast
- earnings would rise 7% to $2.12 (I assume that meant previous earnings were $1.98)
- revenue would dip minimally, 1.7% to $5.58 billion
- actual:
- earnings rose a whopping $2.22 (if previous earnings were $1.98, this represents a jump of 12% -- wow)
- revenue slightly above the estimate at $5.60 billion
- operating ratio rose 3.4% to almost 60%
- all of this despite carloads down 4%; decreased agricultural and energy shipments
- the latter likely to improve over time
UNP: up almost 5% after results posted, but, of course, that was after a pullback of 7% (?) yesterday; now trading up almost $8 at $172.
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More "Emoji" Coming
Yes, you can tell it's a slow news day. LOL.
Link here.
Apparently the plural of emoji is .... emoji. Or maybe emojis. Or maybe both are acceptable.
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On The Way To School
Corky and friend.
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