Union Pacific, Norfolk Southern — Union Pacific said it was in advanced talks about a potential combination with Norfolk Southern, which would create the largest U.S. railroad. Union Pacific shares fell 4.5%, while Norfolk Southern slipped less than 1%.
CSX — Shares rose less than 1% after talks between rival railroad operators stoked deal speculation. The company’s CEO Joseph Hinrichs said in an interview that he was open to “all possibilities.”
IBM — The tech stock fell 7.6% after the company reported disappointing revenue at its software business. While IBM raised its forecast for full-year free cash flow, it held to its revenue forecast.
American Eagle Outfitters — The apparel retailer added 4.3% after launching an ad campaign featuring actress Sydney Sweeney, fueling speculation that it could be the next name to join the resurgence of meme stocks. American Eagle is down almost 50% over the past year. The move comes amid a revival of meme stock activity that has hit Opendoor, GoPro and others. Opendoor Technologies jumped 5.7%, while Krispy Kreme ended the day virtually unchanged.
Source: https://www.cnbc.com/2025/07/24/stocks-making-the-biggest-moves-midday-tsla-ibm-unp-aeo-and-more.html