Squawk on the Street SOTS 2nd Hour: Union Pacific & Norfolk CEOs, AstraZeneca CEO, & Consumer Stock Picks 7/29/25
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Jul 29, 2025 John Sanmarco, a portfolio manager at Neuberger Berman, shares insights on navigating today's consumer market. The discussion highlights improving consumer confidence amidst mixed signals from major sectors. Sanmarco addresses the impact of new tariffs on retail and pharmaceuticals, and analyzes the challenges faced by beauty retailers like Ulta. Additionally, he delves into the monumental Union Pacific and Norfolk Southern merger, exploring its implications for the freight landscape and operational efficiency in the rail industry.
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Union Pacific & Norfolk Deal Insight
- The $72 billion Union Pacific and Norfolk Southern merger will create the first coast-to-coast freight rail operator in the US.
- This combination aims to improve service and provide a seamless, cost-effective product for customers across the country.
Rail Merger Workforce Strategy
- The merging railroads guarantee jobs for all unionized employees to avoid workforce reductions.
- They plan to spend two years planning integration carefully to prevent service disruptions.
Regulatory Views on Rail Merger
- Regulators, especially the Service Transportation Board, will assess whether this rail merger benefits America and customers.
- The new leadership in the STB supports strict review rules, encouraging a transparent approval process.