CSX tumbles the most since the financial crisis after its CEO blames a ‘puzzling’ economic backdrop for weak earnings (CSX)

Train operator CSX reported disappointing second-quarter earnings on Wednesday that sent shares sliding by as much as much as 12%. The loss — which was also driven by the company’s lowered full-year 2019 sales forecast — marked CSX’s biggest since the financial crisis The company criticized President Trump’s trade war, which has resulted in tariffs on hundred of billions of dollars in imported goods. James Foote, the president and chief executive officer, said the current economic landscape is “one of the most puzzling” he’s seen in his career during a call with analysts. Watch CSX trade live. President Trump’s trade war is continuing to fill corporate executives with uncertainty. CSX,… Read More

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