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The Boston Globe

Business

Norfolk Southern stock falls as shipments decline

The railroad fell the most in over three years after saying quarterly profit of $1.18 to $1.25 a share will fall short of the $1.63 average estimate of 27 analysts Bloomberg polled. Like FedEx, it says it’s shipping fewer things in a slow economy. Stocks of Union Pacific, Kansas City Southern, and CSX Corp. also slumped. Norfolk Southern said its volume will decline about 2 percent in the third quarter, with coal dropping 13 percent and general merchandise down 1 percent.