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Actionable news in NSC: NORFOLK SOUTHERN Corp,

Norfolk Southern profit beats, cost cuts offset falling freight

Norfolk Southern Corp on Thursday reported a quarterly profit that was lifted by cost cutting and measures taken to streamline operations, shaking off a 6 percent freight decline and sending the railroad's stock up more than 3 percent.

The No. 4 U.S. railroad's earnings beat comes just over a week after Canadian Pacific abandoned a hostile bid for the company under pressure from customers, elected officials and government agencies opposed to a deal.

Norfolk Southern itself was under pressure from investors during Canadian Pacific's five-month bid to show a marked improvement in profitability and prove that it could perform well as a...