CSX stock slips after earnings beat, announced buyback
CSX Corp. shares slipped in the extended session Wednesday even after the railroad operator's quarterly results topped Wall Street estimates. CSX shares slipped 1.9% after hours, following a 0.4% rise to close the regular session at $65.38. The company reported fourth-quarter net income of $843 million, or $1.01 a share, compared with $4.14 billion, or $4.62 a share, in the year-ago period. Revenue rose to $3.14 billion from $2.86 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 99 cents a share on revenue of $3.12 billion. The company also said its board authorized $5 billion in share buybacks.
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