Slumping coal shipments have been a drag on railroad operators, but CSX and Norfolk Southern posted better revenue and profits than expected. The railroads managed to offset some of the hit from falling coal demand by getting more money from carrying car parts, building materials and other products.
Norfolk Southern rose $1.47 to $68.41 while CSX gained 87 cents to $21.68.
The quarterly earnings season is off to strong start. Of the 83 companies in the S&P 500 that reported through Tuesday, 54 have beaten Wall Street's estimates, according to S&P Capital IQ.
In the bond market, the yield on the benchmark 10-year Treasury note dipped to 1.83 percent from 1.84 percent late Tuesday.
Among other companies posting quarterly earnings: