Union Pacific (UNP.US) surged more than 5% on Thursday, reaching $308.75 per share.

This rally followed the railroad operator's release of its second-quarter financial results, which surpassed Wall Street expectations. The company reported revenue of $6.9 billion, marking a 12% year-over-year increase and exceeding the consensus estimate of $6.65 billion. Adjusted earnings per share came in at $3.41, also topping the forecasted $3.19.

Excluding fuel surcharges, freight revenue grew 4% compared to the same period last year. This growth was driven by higher freight volumes, improved core pricing, and an increase in other revenue, though it was partially offset by shifts in business mix.