|Last Price$122.19||Day Change (%)1.16%|
|Open Price$122.50||Day Change ($)1.40|
|Day Range121.28–123.25||52-Week Range88.56–125.96|
As of Fri 10/31/2014 02:20 PM EST | USD
UPDATE: Morgan Stanley climbs after earnings; Urban Outfitters slides
UPDATE: Morgan Stanley, GE, Honeywell earnings in focus
Railroad operator CSX reports higher profits
UPDATE: CSX leads railroads higher; Fiat debuts in U.S. market
In this second excerpt from their new book, Morningstar's Heather Brilliant and Elizabeth Collins detail how companies leverage cost advantage and switching costs to their benefit.
We are concerned about a slow start to U.S. light-vehicle sales this year, but we expect improvement once the cold abates.
Class I railroads have cost advantages and scale efficiencies that give them a competitive edge over lesser players.
Widening investment-grade credit spreads and rising interest rates lead to losses.
Railroads bolstered our confidence in the persistence of excess returns via solid performance through the recent recession and coal weakness.