Cory, CSX chief operating officer, announces retirement

CSX announced that Michael A. Cory, EVP and COO, will retire on October 12, 2026, and provide transition services until May 8, 2027. He will receive his base salary, bonuses, and benefits during this period, according to the company.

The $85B merger between Union Pacific (UNP) and Norfolk Southern (NSC) faces delays and opposition. The Port of Mobile, citing potential economic harm, plans to submit comments. Rival railroads (BNSF, CSX, CPKC) object to repeated data corrections in the merger proposal, calling for a halt to further changes.

BNSF, CPKC, and CSX plan to request extensive trackage rights over a combined Union Pacific-Norfolk Southern system, if regulators approve their $85 billion merger. The railroads argue the merger will harm competition and the economy. BNSF seeks 824 miles of trackage rights between Chicago and Pennsylvania, while CPKC targets the Kansas City-St. Louis corridor and other routes. CSX also aims for access to the Kansas City-St. Louis trackage.

CSX reported Q2 FY2026 earnings exceeding Wall Street estimates, with revenue and adjusted EPS above expectations. Shares have seen a 90-day return of 4.88% and a YTD return of 36.23%. The stock's fair value is estimated at $52.85, slightly above its last close of $49.41, with a P/E ratio of 28.4x, leaving valuation debates open.

Apple (AAPL), Q32 Bio (QTTB), and CSX Corp. (CSX) reached 52-week highs. AAPL rose 0.6% to $323.45; Citi raised its target to $365. QTTB surged 90% after positive clinical data; Wells Fargo upgraded it to 'Overweight' with a $66 target. CSX gained 0.4% to $49.90; Raymond James lifted its target to $56. Year-to-date gains: AAPL +16%, CSX +36%, QTTB +543%.

CSX will extend wait times for containers on 25 intermodal lanes to improve network fluidity. Samsung filed a complaint against CMA CGM, seeking $186 million for alleged unfulfilled merchant haulage moves during the pandemic.