Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  Union Pacific    UNP

UNION PACIFIC

(UNP)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

Union Pacific : Regulators say railroad talks can be included in lawsuits

share with twitter share with LinkedIn share with facebook
07/14/2020 | 05:44pm EDT

OMAHA, Neb. (AP) — Federal regulators say the nation’s four largest railroads shouldn’t be able to exclude all the details of their conversations from a lawsuit challenging the way they set rates in the past.

Dozens of major companies filed lawsuits last year against Union Pacific, BNSF, CSX and Norfolk Southern railroads. The lawsuits say the railroads conspired to boost prices starting in 2003 by imposing coordinated fuel surcharges and pocketing billions of dollars in profits.

The price-fixing allegations have been making their way through U.S. courts for years, with several companies filing similar lawsuits in 2007.

Attorneys then sought class-action status on behalf of 16,000 shippers against the four railroads, but last year a U.S. appellate judge said the cases would have to be brought individually or broken down into groups of similar shippers with similar situations.

In the lawsuits, the railroads have generally contended that fuel surcharges are common across the transportation industry, that they were legal and simply intended to recover the skyrocketing cost of fuel at the time. They also argue that an obscure law that allows railroads to discuss rates on shipments that cross multiple railroads protects the conversations they had about the fuel surcharges in this case.

The U.S. Justice Department said in a brief filed Monday that railroad discussions about rates for all traffic shouldn’t be excluded. The Justice Department said applying the law broadly, as the railroads argued, “would exclude critical evidence of antitrust violations.”

The companies that filed the lawsuits — which include carmakers like Hyundai, a variety of manufacturers such as Campbell Soup and power companies like Dominion Energy — say the four railroads had meetings, phone calls and email communications through which they embarked on the conspiracy to apply the fuel surcharges all traffic to generate profits.

The plaintiffs argue that the majority of what the railroads discussed at joint meetings had nothing to do with shipments that are handled by more then one railroad, so they shouldn’t be excluded from the case.

A federal judge will decide later what evidence from those meetings will be included in the lawsuit.

Congress largely deregulated railroads in 1980. Over the next several years, railway companies consolidated, eventually leading to the four big railroad shippers — BNSF and Union Pacific serving much of the West and CSX and Norfolk Southern in the East.

Though the companies are individual entities, they are legally allowed to work together to some degree to ensure the continuity of the nation’s railroad network.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News

Stocks mentioned in the article
ChangeLast1st jan.
NORFOLK SOUTHERN CORPORATION 1.64% 198.99 Delayed Quote.2.50%
UNION PACIFIC 1.85% 182.93 Delayed Quote.-0.65%
share with twitter share with LinkedIn share with facebook
Latest news on UNION PACIFIC
07/30UNION PACIFIC CORPORATION : Declares Third Quarter 2020 Dividend
PR
07/29UNION PACIFIC : College Degree Within Reach for Union Pacific Employees; Univers..
AQ
07/28NORFOLK SOUTHERN : appoints Sanborn chief operating officer Wheeler to retire
AQ
07/27NORFOLK SOUTHERN : Picks Cindy Sanborn as Next COO
DJ
07/24TODAY'S LOGISTICS REPORT : Amazon's Investing Strategy; Bending Metal Tariffs; R..
DJ
07/23Whirlpool, Meritage rise; Kinder Morgan, Union Pacific fall
AQ
07/23No Bars, No Problem for Boston Beer -- Earnings at a Glance
DJ
07/23UNION PACIFIC : Management's Discussion and Analysis of Financial Condition and ..
AQ
07/23Drop in Demand Hits Car Makers -- Earnings at a Glance
DJ
07/23UNION PACIFIC : Pandemic grips commerce, hits railroader Union Pacific
AQ
More news
Financials (USD)
Sales 2020 19 215 M - -
Net income 2020 5 304 M - -
Net Debt 2020 26 012 M - -
P/E ratio 2020 23,5x
Yield 2020 2,13%
Capitalization 124 B 124 B -
EV / Sales 2020 7,82x
EV / Sales 2021 7,31x
Nbr of Employees 31 965
Free-Float 60,9%
Chart UNION PACIFIC
Duration : Period :
Union Pacific Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends UNION PACIFIC
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 186,87 $
Last Close Price 182,93 $
Spread / Highest target 15,3%
Spread / Average Target 2,15%
Spread / Lowest Target -26,2%
EPS Revisions
Managers
NameTitle
Lance M. Fritz Chairman, President & Chief Executive Officer
Jim V. Vena Chief Operating Officer
Jennifer L. Hamann Chief Financial Officer & Executive Vice President
Jon T. Panzer Senior VP-Technology & Strategic Planning
Erroll Brown Davis Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
UNION PACIFIC-0.65%124 180
CANADIAN NATIONAL RAILWAY COMPANY12.75%71 073
NORFOLK SOUTHERN CORPORATION2.50%50 764
CANADIAN PACIFIC RAILWAY LIMITED14.00%38 242
KANSAS CITY SOUTHERN22.12%17 647
C.H. ROBINSON WORLDWIDE, INC.22.49%12 915