Closing Glance: Rails, shippers waver as oil rises

Shares of railroads and shippers fluctuated Tuesday, as oil settled over $129 and Moody's Investors Service raised the corporate family ratings of Kansas City Southern.

The credit rating agency upgraded the ratings to "B1" from "B2," citing improving profitability and service. Both ratings are considered non-investment or "junk" grade.

Also Wednesday, CSX activist shareholders TCI and 3G Capital urged fellow holders to elect their minority slate of five board candidates, setting the stage for a proxy fight at the railroad's annual meeting next month.

Here's how major players performed:

Union Pacific Corp., up 8 cents to $153.58.

Burlington Northern Santa Fe Corp., down 73 cents to $108.49.

CSX Corp., up 78 cents to $67.72.

FedEx Corp., down $1.25 to $89.82.

United Parcel Service Inc., down 72 cents to $70.20.