CSX Slumps as Profit Misses Estimates on Coal Shipments
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CSX Corp. shares tumbled the most in more than two years after the biggest railroad in the eastern U.S. posted a profit that trailed analysts’ estimates for the first time in eight quarters as coal shipments slumped.
The stock fell 6.8 percent to $27.24 in New York, the biggest decline since September 2011. The shares were the second-biggest decliner on the Standard & Poor’s 500 Index.