CSX Corporation (CSX) Shows China Isn'tBuying US Coal, Says Jim Cramer

We recently published 10 Stocks That Were On Jim Cramer’s Radar As He Warned “It’s Too Early” To Buy. CSX Corporation (NASDAQ:CSX) is one of the stocks Jim Cramer recently discussed.

CSX Corporation (NASDAQ:CSX) has been a regular feature of Cramer’s morning show due to the heightened merger activity in the railroad industry. The firm’s shares are flat year to date, as unlike its peers, Union Pacific and Norfolk Southern, the firm has not announced any merger or acquisition deal. CSX Corporation (NASDAQ:CSX)’s shares dipped by 9.7% after it announced that it would expand its partnership with BNSF. The shares fell after the announcement effectively ended hopes of a merger. Here is what Cramer said about CSX Corporation (NASDAQ:CSX):

“By the way they’re not buying our coal, because if you look at CSX, which is Joe Hinrichs, who’s fantastic, coal’s been not great for them. This is a stock that when you look at it, says, we better make a deal, but Joe has said, if you [inaudible] high price, we’ll buy. The rails are a little weaker. I think that those deals take two years and people got a little too excited.”

Here are Cramer’s previous thoughts about CSX Corporation (NASDAQ:CSX):

“As Joe Hinrichs said to me last night on CSX, for the first time railroads are looking to work together. There is a up to a five day delay every time you get to Chicago because they don’t really, I mean we never really completed one. He’s saying you don’t need to merge, in order to make things more efficient. That would hurt the Norfolk Southern, Union Pacific merger.

“Joe Hinrichs’, by the way, his stock was the second best in the group, and if you take out the fluff that developed from Norfolk Southern when you [David] broke the story that there were talks, you actually had the number one performer. So he’s been slagged, and slagged, and slagged, even though he’s number one. And I don’t know if that’s so good.

“No, there’s not a buyer. No, not a buyer.”

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Disclosure: None. This article is originally published at Insider Monkey.