CSX postpones investor conference amid leadership shakeup CSX Corp., the third-largest U.S. railroad operator, said on Wednesday it was postponing an Oct. 30 investor conference to a later date, and said its board approved a $1.5 billion share buyback program. CSX’s decision came hours after it announced the appointment of Jim Foote as its new chief operating officer. CSX has been undergoing a major overhaul under new Chief Executive Hunter Harrison. (Reuters)
The Biggest Loser: CSX Tumbles 7.6% By Teresa Rivas Dec. 15, 2017 4:35 p.m. ET CSX(CSX) fell to the bottom of the S&P 500 on Friday, following worries about its CEO's health. ILLUSTRATION:GETTY IMAGES CSX slid $4.38, or 7.6%, to $52.93, while the S&P 500 rose 23.80 points, or 0.90%, to 2675.81. The stock took a hit after CSX announced late yesterday that CEO E. Hunter Harrison istaking medical leave. The company attributed it to "unexpected complications from a recent illness." The Board of Directors named COO James Foote as acting CEO of the company. CSX is up 47.3% year to date. https://www.barrons.com/articles/the-biggest-loser-csx-tumbles-7-6-1513373735
I'd consider CSX a good long-term investment. I used to work for them, got to know how they operate. Never doubt the long-term outlook on a company that leases their rails to Amtrak.