Latest news with #EasternUS
Yahoo
5 days ago
- Business
- Yahoo
Norfolk Southern stock rises after confirming merger talks with Union Pacific
-- Norfolk Southern Corporation (NYSE:NSC) stock rose 3.4% after the company confirmed it is in "advanced discussions" with Union Pacific Corporation (NYSE:UNP) regarding a potential business combination. Union Pacific shares declined 1% on the news, while peer CSX Corporation (NASDAQ:CSX) gained 3.3%. The disclosure from both companies confirms media reports from last week, including a Wall Street Journal article that mentioned merger talks between the two major U.S. rail operators. In a brief joint statement, the companies said they are engaged in discussions about a possible merger but cautioned that "there can be no assurances as to whether an agreement for a transaction will be reached or as to the terms of any such transaction." Both Norfolk Southern and Union Pacific stated they do not intend to provide additional comments or updates on the matter unless disclosure becomes required or appropriate. A potential combination of these rail giants would likely face significant regulatory scrutiny, as it would consolidate two of the largest freight rail networks in the United States. Norfolk Southern operates primarily in the Eastern U.S., while Union Pacific's network covers the Western states. The railroad industry has seen increased consolidation pressure in recent years as companies seek operational efficiencies and expanded network reach. Any merger would require approval from the Surface Transportation Board, which regulates freight rail. Related articles Norfolk Southern stock rises after confirming merger talks with Union Pacific These Under-the-Radar Stocks Offer Better Risk-Reward Ratio Than Nvidia Apollo economist warns: AI bubble now bigger than 1990s tech mania Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
5 days ago
- Business
- Reuters
Union Pacific discussing merger with rival Norfolk in mega railroad deal
July 24 (Reuters) - Union Pacific (UNP.N), opens new tab said on Thursday it was in advanced discussions with rival Norfolk Southern (NSC.N), opens new tab for a possible merger. A deal, if it goes through, will create a railroad with a rare coast-to-coast footprint, combining Union Pacific's dominant position in the Western two-thirds of the U.S. with Norfolk's 19,500-mile route predominantly spanning 22 eastern states. There can be no assurances as to whether an agreement for a transaction will be reached or as to its terms, Union Pacific said.
New York Times
6 days ago
- Business
- New York Times
Governors Plan to Rebuke Managers of Largest U.S. Electric Grid
Angry with the rising cost of electricity, a bipartisan group of governors is expected to dress down officials that manage the nation's largest power grid system on Wednesday for failing to rein in costs. A representative for nine Eastern governors is expected to address executives of the grid system, known as PJM, during a meeting at its headquarters in Audubon, N.J., near Philadelphia. The grid stretches across 13 states, serving more than 67 million consumers from Chicago to Virginia Beach. 'As our regional grid confronts intertwined reliability and affordability crises, PJM itself faces an unprecedented crisis of confidence from market participants, consumers and the states,' nine governors wrote last week in a letter to PJM, a nonprofit organization. 'In the past, other regions looked to join PJM due to its many strengths; today, across the region, discussions of leaving PJM are becoming increasingly common.' A 10th governor, Mike DeWine, Republican of Ohio, sent a separate letter to PJM making similar points. In June, The New York Times reported that Democratic and Republican governors were increasingly angry and frustrated with PJM. Many of them have said the nonprofit is not doing enough to check the rising cost of electricity, including by not moving quickly enough to add cheaper sources of energy to its grid. State officials have been communicating with one another about their concerns, including what they say is the nontransparent way in which PJM makes important decisions about the grid. The officials also say the nonprofit, which is run by industry representatives and overseen by a federal regulatory agency, is not sufficiently accountable to state lawmakers or residents. Want all of The Times? Subscribe.
Yahoo
22-07-2025
- Business
- Yahoo
Citi Raises Price Target for M&T Bank (MTB), Keeps Neutral Rating
M&T Bank Corporation (NYSE:MTB) is one of the 10 Best Financial Stocks on Wall Street's Radar. On July 18, Citi increased its price target for M&T Bank Corporation (NYSE:MTB) from $212 to $215 but kept a 'Neutral' rating. This decision came after the company reported its second quarter 2025 results. Citi described the latest quarterly results as strong, even though M&T Bank Corporation (NYSE:MTB) reported a lower-than-expected net interest income (NII) and set a lower minimum for its 2025 NII guidance range. A busy financial advisor talking to a client in their office. Citi has reduced its near-term deposit beta estimates for M&T Bank Corporation (NYSE:MTB) because of higher funding costs, which are putting pressure on net interest income. However, this impact is partially offset by the bank's stronger balance sheet growth. M&T Bank Corporation (NYSE:MTB) is a financial holding company that operates mainly through its banking subsidiary, M&T Bank. It provides banking products and services through a network of branches and ATMs primarily in the eastern US. While we acknowledge the potential of MTB as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Best American Semiconductor Stocks to Buy Now and 11 Best Fintech Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
11-07-2025
- Climate
- Yahoo
'Buck Moon', the first full moon of summer, to grace skies Thursday night
Attention all stargazers, the first full moon of this summer rises on Thursday night in the U.s. The first full moon of July is called a Buck Moon, hailing from the Indigenous Algonquin tribes in the Eastern U.S., according to the Old Farmer's Almanac. The name honors the new antlers of buck deer that push out of their foreheads in coatings of velvety fur during the early summer. The July full moon can also be referred to as a Thunder Moon due to frequent summer thunderstorms, according to the almanac. Critical Change Made To 2025 Atlantic Hurricane Season Forecast The peak of the full moon occurred just after 4:30 p.m. ET, but the moon will essentially look full for the next two nights. Next up on the full moon list will come Aug. 9 when it gets the name "Sturgeon Moon." Here are the rest of the moon names: September 7: Corn Moon October 6: Harvest Moon November 5: Beaver Moon December 4: Cold Moon If clouds get in the way or you don't have the chance to check out the bright lights of a full moon on Thursday evening, you'll have plenty of chances to stargaze for the article source: 'Buck Moon', the first full moon of summer, to grace skies Thursday night
