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CSX Shares Dive, and the Slowing U.S. Auto Market Is a Big Reason Why

Jacksonville, Fla.-based rail service provider CSX Corp. (CSX) was trading down 6.3% in early afternoon trading Wednesday, July 19, despite releasing a second quarter earnings report the day before that beat expectations.

CSX announced earnings-per-share of 64 cents, beating consensus analyst expectations of 59 cents, according to FactSet. Despite the 8.3% surprise in the second quarter, the company projected earnings-per-share growth for the fiscal year below Wall Street's expectations. The company predicted growth of 25% of over its 2016 numbers, translating into a rise of 45 cents over last...