Railroads: Union Pacific Corp. reported that second-quarter...

Railroads: Union Pacific Corp. reported that second-quarter earnings fell 1% to $152.1 million. Revenue was $1.6 billion, up 9.7% from the same period a year ago. The Bethlehem, Pa.-based company said the dip in earnings reflected oil refining operations that were discontinued in 1988. Santa Fe Pacific Corp. said profit in the second quarter was $2.7 million, down 97% from $101.2 million for the same period a year ago. Revenue for the quarter totaled $103.6 million, down 38%. The Chicago-based firm attributed the decline to reduced results from its transportation and real estate operations.