CSX Jumps as Freight Drop Softened by Cost Cuts, Price Gains
- Shares rise most in about three months after earnings report
- Railroad to reduce expenses 25% more than initially planned
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CSX Corp. advanced the most in three months after the railroad raised prices to help offset a drop in cargo and said it would cut costs 25 percent more than previously planned.
The largest railroad in the eastern U.S. climbed 4.2 percent to $26.04 at 12:42 p.m. in New York after advancing as much as 5.3 percent, the largest intraday gain in about three months.