5 Biggest Gainers on Thursday

4. CSX Corporation (NASDAQ:CSX)

Number of Hedge Fund Holders: 63

CSX Corporation (NASDAQ:CSX) shares turned green this morning after leading U.S. railroad companies reached a tentative agreement with worker unions over higher wages and better working conditions.

The latest development also averted a potential strike planned for the weekend. Rail stocks, including CSX Corporation (NASDAQ:CSX), have consistently outperformed the S&P 500 in recent years. However, their growth decelerated amid lower shipping volumes and staff shortages this year.

Meanwhile, CSX Corporation (NASDAQ:CSX) also made an important announcement this morning. The company named Ford’s ex-president Joe Hinrichs as its new CEO. Hinrichs will replace current chief executive James Foote. CSX Corporation (NASDAQ:CSX) added that Foote would continue to offer his advisory services to the company till March 2023.