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Monday, October 24, 2016
Union Pacific the Latest Railroader to Miss
(Dow Jones) -- Union Pacific (UNP) logs its own 3Q profit miss as earnings slide more than anticipated amid the continued industry softness in railroad traffic. UNP's carloads fell 6% as an 11% rise for agriculture was more than offset by declines elsewhere--including 19% for coal and 13% for industrial products. With shares up 24% this year, expect profit-taking today. UNP is inactive premarket.**Big Fees Loom for Monsanto Advisers(Dow Jones) -- Banks stand to get quite the payday for their roles on Bayer's (BAYN.XE) proposed $57B deal to buy Monsanto (MON). A merger proxy shows Morgan Stanley (MS) would make $120M if the deal closes; it advised MON. Meanwhile, upstart investment bank Ducera received a $10M fairness-opinion fee and stands to receive an additional $35M if the buyout is completed. It also worked with MON.