Kansas City Southern rose the most in nine months after the operator of U.S. and Mexico rail lines reported profit that beat analysts’ estimates.
The shares rose 6.8 percent to $98.81 at 10:59 a.m. in New York after earlier jumping 8.5 percent, the biggest intraday gain since Oct. 13. Kansas City Southern reported adjusted earnings per share of $1.03, outpacing analysts’ prediction of $1.01.
Kansas City Southern followed CSX Corp. in posting earnings that exceeded estimates. North American railroads are managing an industrywide freight decline by raising rates, repurchasing stock and paring costs with measures including layoffs.