Norfolk Southern (NSC) NewsBite - NSC Profit Jumps on Higher Revenue

Posted on Wednesday, July 23, 2008 12:22 PM

Norfolk Southern Corp. (NSC) opened at 67.49. So far today, the stock has hit a low of 66.90 and a high of 70.68. NSC is now trading at 68.90, up 3.21 (4.76%). The stock hit its 52 week high of 70.68 today and set its 52 week low of 41.36 in January. NSC has been generally up for the past year. Railroad Norfolk Southern announced yesterday evening its second-quarter profit rose 15% to $453 million on higher revenue per shipment. The company posted earnings of $1.18 per share on sales of $2.77 billion, while analysts expected profit of $1.05 per share on revenue of $2.65 billion. Technical indicators for the stock are neutral and improving while S&P gives NSC a positive 4 STARS (out of 5) buy rating. If you’re looking for a hedged play on this stock, consider a September bull-put credit spread below the $55 range. NSC stock could fall up to 20.2% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]