Union Pacific upgraded to buy from neutral at BofA Securities

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Dow transports suffers unanimous decline; biggest drags are Union Pacific and FedEx stocks

The Dow Jones Transportation Average tumbled 159 points, or 1.5%, to underperform the broader stock market by a wide margin for a second-straight day. All 20 components of the transportation sector tracker lost ground, while the Dow Jones Industrial Average fell 168 points, or 0.6%, with 26 of 30 components declining. On Wednesday, the index dropped 191 points, or 1.8%, led by the 15% plunge in the shares of freight transport company C.H. Robinson Worldwide Inc. after an earnings miss. while the Dow industrials rose 115 points, or 0.4%. On Thursday, the biggest drags on the transports were shares of railroad operator Union Pacific Corp. , which fell $3.05, or 1.8% to shave about 19 points of the index’s price, and FedEx Corp. , which shed $2.83, or 1.8%, to cut the index’s price by 17 points. The biggest percentage decliner was Matson Inc.’s stock , which fell 3.2%.

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