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CSX stock ticks up after earnings beat

CSX Corp. shares rose more than 2% in the extended session Wednesday after the company beat earnings expectations and met Wall Street forecast for sales. The railroad company reported third-quarter net income of $856 million, or $1.08 a share, compared with $894 million, or $1.05 a share, in the year-ago period. Revenue fell to $2.98 billion from $3.13 billion in the year-ago period. Analysts surveyed by FactSet had estimated earnings of $1.01 a share on revenue of $2.98 billion. For the fourth quarter, analysts model earnings of $1.02 a share on sales of $3.01 billion. CSX stock has gained 11.1% this year, with the S&P 500 index rising 19.5%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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