The S&P 500’s top gainers on April 25 were:
Norfolk Southern, which is a premier transportation company in the US, was the S&P 500’s top gainer on April 25. After starting this week on a stable note, Norfolk Southern pulled back on Tuesday. However, Norfolk Southern regained its strength, opened higher on April 25, and surged to three-month high price levels.
The buying pressure in Norfolk Southern increased on Wednesday amid the release of its stronger-than-expected 1Q18 earnings report. According to management, the EPS (earnings per share) in 1Q18 was $1.93, which is 30.6% growth from the EPS of $1.48 recorded in 1Q17. The EPS is also better than analysts’ forecast of $1.77. Increased cargo volumes and freight rates helped Norfolk Southern increase its earnings in the first quarter. The quarterly revenues surged to $2.7 billion amid a 3% increase in the cargo volumes.
Amid criticism from federal rail regulators about delays and fewer rail cars and crew members, Norfolk Southern’s management plans to increase its workforce and lease rail cars. On April 25, Norfolk Southern gained 8.1% and closed the day at $145.96—the highest daily close since February 2018. Norfolk Southern is part of the S&P 500 Industrials sector, which gained 0.28% on Wednesday.
Next, we’ll discuss how Anthem (ANTM) performed on April 25.