Big Railroad Selloff Leaves Markets Flat
Health Services Stocks Continue To Overperform. The health services sector rose by over 13% today, and has lead the market in growth for months now.
Kansas City Southern Railroad Misses On Profits, Sparks Selloff. The big story in the markets today was a huge selloff in railroad stocks. It was caused by a report that Kansas City Southern (KSU) would miss profit expectations this quarter. The selloff that followed hit the transportation sector hard, and caused a drop in the share price of nearly every major railroad.
Kansas City Southern (KSU) lost 8% of its value, and saw share prices fall by -9.21 points to close at $106.48 per share. Union Pacific (UNP) dropped -4.67 points today, and closed at $112.78 per share. CSX Corp (CSX) fell 4%, losing 1.46 points to close at $33.70 per share. Norfolk Southern (NSC) dipped -3.87 points and ended the day's trading at $106.56 per share. Canadian Pacific (CP), one of the largest railroads in the country, fell -3.59 points to close at $185.42.
Tiffany & Co Rises On Bank Of America's Backing. Luxury goods manufacturer Tiffany & Co (TIF) grew by 6% today, after Bank of America (BAC) released research saying that the company is poised to keep growing. Bank of America is optimistic that Tiffany's will reach a share price of $105 by this time next year. In trading today, Tiffany gained 4.81 points to close at $87.74 per share.
Allegheny Technologies Up Big On Growth Forecast. American steel manufacturer Allegheny Technologies (ATI) was up today, on news that the company is forecast to grow faster than expected. Allegheny gained 1.96 points on the day, and closed at $31.50 per share.
Published on Mar 23, 2015By Aaron Phillips