Union Pacific's results are one big unknown for me 😀 The company missed revenue and earnings per share estimates, yet the stock is up over 8% in premarket trading (I'm not mad 😀 ) . But for many, it may be significant that the CEO is leaving the company after 8 years.
And if we have UNP shareholders here, Union is keeping the dividend unchanged at $1.30 per share for the 6th quarter in a row.
And was the ceo really bad? Leaving the ceo also usually triggers a downward rather than upward direction 🤔
Oh wait, if the CEO has a negative impact on the company ( a direction that investors don't like to see) then the news of the departure may have a positive impact on the price, we all care about financial performance, the CEO is a big cherry on the cake but no more important than the results. The Meta connection comes to mind, when Zuckerberg also had his motives for where he was going to lead the company, when he turned around Meta took off like a shot, I think there too the possible exit news could theoretically be just as positive at the time.
I don't know this company, but it's really interesting how the market reacts to news sometimes in the opposite way than one would expect.
I didn't expect it either, congrats to those who have. I have not followed the company for a long time and rather as you write I would have expected a decline. I was thinking if it got back to around $200, preferably below again I would buy. Well, I guess I missed the damn train. 😁
