Loop Capital Markets

Commentary

Labor Day Turns Good to Great, Albeit Temporarily

We don’t know much about art, but apparently famous painters go through different periods. Picasso had three: Blue Period from 1901-1904, Rose Period from 1904-1906, and Cubism from 1907-1917. Transposing that to

Commentary

POTUS 47 Turmoil Reaches STB

Disruption at the Surface Transportation Board: One of the attributes of the freight transportation sector we’ve always liked has been its low politicization. People in and around the industry care about stuff

Commentary

It Will All Come Down to This

Cutting to the chase on the 2027 STB merger decision: On July 30, Union Pacific and Norfolk Southern submitted to the Surface Transportation Board their prefiling notification, which is basically a heads

Commentary

Should BNSF and CSX Focus on the Watershed Now?

Don’t make me take you to the watershed: During Union Pacific and Norfolk Southern’s July 29 presentation announcing the proposed combination, the piece we found most interesting (beyond the audacity of attempting

Commentary

The Race to Fold; CPKC Improves

Question: Where’s the belief in growth? Our State of the Rails chart (bottom) is starting to look good, and we show a truncated version. We now have half the industry, including the

(Source: CPKC and Loop Capital)
Commentary

State of the Rails: Fourth of July Effect, Part 1

Given the Fourth of July effect in the most recent weekly data, we’ll give Canadian Pacific Kansas City (CPKC) a break from our weekly critique as it continues to try to restore fluidity after the May 3 U.S. IT cutover from
the old Kansas City Southern (KCS) Management Control System (MCS) to Canadian Pacific’s (CP) “TYES” system. Just kidding.

Commentary
  • News

Mixed Progress on CPKC IT Cutover Recovery

Railroad recoveries are almost always uneven (CSX the recent exception), and we’re seeing that with a mixed bag of data this week regarding CPKC’s efforts to rebound from the operational disruptions from