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Union Pacific Corp.

Union Pacific 2Q profit falls 19 percent as volume slows

Union Pacific's second-quarter profit fell 19 percent as the railroad hauled 11 percent less freight.

The railroad said Thursday that full-year volumes are likely to fall 6 percent to 8 percent because of the soft global economy, strong U.S. dollar and weak consumer demand.

Its shares fell more than 3 percent in afternoon trading.

The Omaha, Nebraska-based company reported net income of $979 million, or $1.17 per share. That's down from $1.2 billion, or $1.38 per share, a year ago.

The 14 analysts surveyed by Zacks Investment Research predicted earnings of $1.17 per share on average.

Revenue declined 12 percent to $4.77 billion. Five analysts surveyed by...

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