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Union Pacific Corp.

Union Pacific's 2Q profit falls 7 percent as volume declines

A sharp decline in coal shipments drove down Union Pacific's second-quarter profit by 7 percent, and executives predicted that the railroad would fall short of expectations for the year because the challenging conditions will continue. Its shares lost nearly 6 percent Thursday. Faltering coal demand has created challenges for all the major freight railroads and in April, natural gas overtook coal as the top source of U.S. electric power generation for the first time ever, according to the U.S. Department of Energy. Union Pacific Corp. said coal volume dropped 26 percent in the second quarter, and demand for that fuel is likely to remain weak in the rest of the year. Overall...