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Opening Glance: Rails, shippers down on record oil



By AP
11 July 2008 @ 10:01 am EST

NEW YORK - Shares of railroads and shippers fell Friday morning as the broader market was shaken by fears that a government bailout might be needed to save beleaguered mortgage lenders Fannie Mae and Freddie Mac.

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Quotes
FNM 1.2 -0.09
FRE 1.29 -0.13
UNP 60.15 -1.1
BNI 80.67 -4.31
CSX 45.98 -1.74
FDX 74.66 -2.68
UPS 59.19 -0.81

SYMBOL LOOKUP

Also early Friday, oil prices jumped to a new record near $147 per barrel.

Here's how major players performed Friday morning:

Union Pacific Corp., down 94 cents to $71.25.

Burlington Northern Santa Fe Corp., down $1 to $95.06.

CSX Corp., down 72 cents to $59.19.

FedEx Corp., down $1.47, or 2 percent, to $73.75.

United Parcel Service Inc., down $1.17, or 2 percent, to $58.13.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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