Union Pacific gains as earnings strength and merger momentum support shares

Union Pacific (UNP) stock rose 3.0% due to strong second-quarter results, an improved 2026 earnings outlook, and investor optimism about its planned merger with Norfolk Southern. The company reported adjusted earnings of $3.41 per share, operating revenue of $6.9 billion, and raised its quarterly dividend by 3%. Investors are also closely watching the Norfolk Southern transaction, which recently saw supplemental filings and Canadian National's support after concessions.