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UNP — Union Pacific
_Last updated 2026-11-06 12:00 ET from report. Screening/research, not investment advice._
Business
Class I U.S. freight railroad. TRAI sector label: Industrials.
Catalysts, guidance & news
- UP–Norfolk Southern major merger before the Surface Transportation Board, Docket FD 36873 (STB major mergers).
- 2026-11-04 Decision No. 45: STB denied UP appeal on SWARS CEO-speech video confidentiality; ordered redesignation as public by Nov 5 5:00 pm ET; ordered additional retaliation-related discovery; invited stakeholder reports of perceived/threatened/actual retaliation (Railway Age; Daily Herald 2026-11-06).
- Company passenger-rail commitments note amid merger narrative (UP, 2026-11-05).
TRAI data (2026-11-06 8:58 AM ET premarket run; daily stats = 2026-11-05)
- Thu close −3.43%, residZ −3.4, z1d −2.93, relVol 2.33 → short_momentum residual (suspended), clusterFlag Industrials ×5.
- Correlation cluster 18 with UPS (avg ρ 0.564). Pair rhos to AI-power electricals are near zero / slightly negative (UNP–ETN −0.13, UNP–GEV −0.13) — do not book with GEV/ETN/CAT (S-001 / S-146).
- Next earnings: TRAI estimate 2027-01-26 BMO; last-4 avg |gap| 3.94% (2.26 ATR).
- Fri midday ~12:10 ET: 292.19 / 297.95 (~−1.9%) while XLI green — idiosyncratic soft path.