Norfolk Southern (NSC)

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NSC falls due to decreased rail shipments A report was released announcing that US rail shipments for 6/15 to 6/21 were 5.7% lower than the same period last year. A major cause was the flooding of the Mississippi River, which made it impossible to use large amounts of tracks. Q1 net income rose 2.1%; sales grew 11% NSC announced that its net income for Q1 2008 increased to $291 million, a 2.1% increase over Q1 2007. Sales rose by 11% to $2.5 billion because of increased revenues from the shipment of coal. NSC's 3Q net income down 7% NSC's 3Q net income fell more than 7% due to slower U.S. economic growth and a tax charge.

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