"The presentation economic background is one of the most sensational I've experienced in my career," told Foote analysts on a conference call Tuesday night. "Both global and US economic conditions have been unusual this year to say the least and have affected our volumes. You see it every week in our reported carloads."
Foote added: "We see a number of conflicting data points and economic indicators and speaks regularly to customers who, despite the recent downturn, remain cautiously optimistic about the second half. "
So, the sound of an industrial CEO is fresh at delivering bad news to investors, mostly on behalf of a confusing global economy, with tariffs, cautious customers and a easy-to-handle president's Twitter feed.
<p class = "canvas atomic text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "CSX ( CSX ) shares fueled 11% on Wednesday as second quarter earnings came in 2 cents short by analyst forecasts. Sales fell 1% to $ 3.06 billion, roughly in line with forecasts. "data-response time =" 20 "> shares in CSX (CSX) tank 11 % on Wednesday when second quarter results came in 2 cents of analysis forecasts. Sales fell 1% to $ 3.06 billion, roughly in line with projections.
<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" The company slashed its full year sales outlook to a decline of 1% to 2%. Earlier, CSX was looking for & For a low-digit percentage increase, Foote attached the sales announcement primarily to weakness among industrial customers' group caught in the mid-trade war. "" Data-React = "41"> The company turned its full-year sales outlook to a 1% to 2% decline. Previously, CSX was looking for a low single digit increase. Foote attached the sales warning, mainly to weakness among industrial customers (a group caught in the middle of the commercial war).
"Although it should not have been a shock that CSX lowered its FY19 revenue guidance (the weekly industry volume data has been telegraphing macro weakness for some time), investors are balancing on the deficit in return relative to expectations, and while negative mix had an impact, so CSX also a sequential deceleration in core pricing in some parts of the book, says railway analyst Allison Landry in a note to clients.
UBS analyst Thomas Wadewitz echoes Landry's feeling.  "We expect solid cost-side execution from CSX But weaker markets are a meaningful asset to both EPS performance and stocks, "says Landy.
If you need a benchmark: In general, US GDP has grown by 2% in the second quarter.
<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Brian Sozzi is a great editor and contributor of The Fi First Trade at Yahoo Finance. Follow him on Twitter [BrianSozzi "data-reactid =" 46 "> Brian Sozzi is a great and co-editor of The First Trade 19659015 ] on Yahoo Finance Follow him on Twitter @BrianSozzi
<p class = "lerret-stof lerret text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text "content =" Read the latest financial and business news from Yahoo Finance "data-reactid =" 60 "> Read the latest finance and business news from Yahoo Finance
<p class =" canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" Follow Yahoo Finance on  ] Instagram SmartNews 19659015] LinkedIn YouTube and reddit "data -reactid =" 68 "> Follow Yahoo Finance on Twitter Facebook ]