Norfolk Southern reports Q2 2025 earnings with $3.1B revenue, 62.2% operating ratio, and confirms historic $85B merger talks with Union Pacific to create transcontinental railroad.

A number of stocks fell in the afternoon session after bellwether United Parcel Service (UPS) reported weak earnings and withheld its full-year guidance, citing “macro-economic uncertainty” and low consumer sentiment.

The merger would create the United States’ first coast-to-coast rail network, spanning 50,000 miles and 43 states.