# Case Study #6

""Buckingham Research Upgrades Norfolk""

Norfolk Southern Corp.

#### News Event

January 18, 2017 at 7:00:00 am (EST) — Norfolk Southern initiated by Buckingham Research at neutral with a price target of $104.00.

#### Market Alert

As the market opened, Norfolk Southern began trading in a volatile fashion. NewsHedge alerted its clients to the unusual trading event at **9:37:29** am (EST) when shares uncharacteristically moved higher from a low of **$105.89** to **$108.16**.

#### Social Context

As the upgrade news broke early morning, Wall Street took to Twitter to share information. According to Metricle’s quantitative Twitter data, Twitter posts for Norfolk Southern produced a **positive “buy”** signal—as visually seen below.

#### Alpha Generation

Over the next several trading sessions, our quantitative data continued to produce a **positive “buy”** signal—giving our clients even more conviction to remain long, or to add to their long position.

#### Systematic Trading Data

To review systematic trading data associated with this case study, or to inquire about backtesting our data, contact us at [sales@newshedge.com](mailto:sales@newshedge.com).