Shares closed at $317.25 on Wednesday, marking a second straight gain as the S&P 500 rose 1.46% and the Dow added 1.24%.
The stock finished 1.89% below its 52-week high of $323.37, reached on 24 April, but lagged rail peers Union Pacific, up 1.60%, and CSX, up 1.27%.
Trading volume was 809,755 shares, 523,325 below its 50-day average of 1.3 million, suggesting lighter investor activity despite the broader market's positive session.
Is Norfolk Southern's stock rally built on a risky merger bet that ignores its underlying financial weaknesses?
With fierce opposition mounting, can the $85B Norfolk Southern-Union Pacific merger actually deliver its promised benefits?