The merger would create the United States’ first coast-to-coast rail network, spanning 50,000 miles and 43 states.

Union Pacific said on July 29 that it had agreed to buy smaller rival Norfolk Southern for $85 billion, including debt, in a deal that would create the first transcontinental U.S. railroad.

They said they were confident the transaction would be approved, despite potential concerns from customers and unions about job losses, higher prices and service disruptions.

Analysts' consensus projections for the upcoming quarter suggest earnings of $3.30 per share on revenues of $3.13 billion.

Apollo Commercial Real Estate Finance (ARI) on Tuesday reported second-quarter earnings of $20.7 million.

The results surpassed Wall Street expectations.