Capital Street BancClear Corporation

Option Banque is a brand owned and operated by Capital Street BancClear Corporation Limited with registered address Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, SVG.

  • Suite 305, Griffith Corporate Centre Beachmont, KingsTown Saint Vincent and The Grenadines

  • +1-949-335-4314

  • Monday-Friday: 6.00 AM
    4.00 PM GMT

Shares of CSX Reverse Gains As FY 2017 Guidance Falls Short of Expectations

    • Home
    • Trade Ideas
    • Shares of CSX Reverse Gains As FY 2017 Guidance Falls Short of Expectations
Jul, 19th 06:02

Shares of CSX Corp. lost more than 4.0 percent in the extended session on Tuesday although the railroad operator reported quarterly results above expectations as well as expanded its share buyback program.

CSX shares reversed gains, shedding 4.17% to trade at $52.36 after having soared 3.1% to $56.32 after hours. The company reported adjusted second-quarter earnings of 64 cents a share on revenue of $2.93 billion, which was higher than analysts’ forecast for earnings of 59 cents a share on revenue of $2.85 billion. CSX also announced that its share repurchase authorization had been added another $500 million to $1.5 billion in total.

However, CSX’s guidance for the full year fell short of analyst expectations. The company expects earnings growth for the fiscal year 2017 of around 25% from 2016, which is below analysts’ expectation for full-year EPS of $2.31, 28% above the $1.81 the railroad reported for 2016.

Trade suggestion

Buy Digital Put Option from 52.30 to 52.00 valid until 20:00 GMT July 19, 2017