Union Pacific Sees Lower Profit Amid Freight Slump
Union Pacific reports a weak fourth quarter as coal and industrial shipments fall with the broader commodity slump. CEO Lance Fritz cites consumer demand weakness and lingering oil price effects, with auto shipments offering a bright note while coal exports and utility demand remain pressured.
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Lance Fritz
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Moody’s Investors Service
EV sales in U S fall short of Obama goal by 2015
Energy Secretary Ernest Moniz told reporters that U S EV sales may not exceed 1 million until 2020 due to low gasoline prices and slow battery-cost declines. He cited August 2008 goals, 400 000 sold to date, and the need to cut battery costs to reach affordability by 2022. He remains bullish on long term growth.
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Verizon reports Q4 revenue rise amid fierce wireless promos
Verizon adds a net 1.5 million wireless postpaid subs in Q4, beating the 1.42 million FactSet StreetAccount consensus though below last year's 2 million. ARPU slips 6.6 percent to 148.30. FiOS revenue rises 6.8 percent to 3.53 billion. Net income hits 5.39 billion or 1.32 per share, ex-items 0.89. Operating revenue 34.25 billion versus 34.10 billion expected.
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