Shares of Union Pacific Corp. /zigman2/quotes/209717171/composite UNP +0.69% rose 1.1% in afternoon trading Tuesday, putting them on track to snap a 3-day losing streak, after the railroad operator provided a optimistic volume outlook at an industry conference. Chief Financial Officer Jennifer Hamann said at the UBS Global Industrials and Transportation Conference that the company was "feeling just a tad more optimistic" on volumes, and "it does feel like things have maybe bottomed a little bit," according to a transcript provided by FactSet. She said second-quarter volumes were tracking at down 23% from a year ago, which compares with guidance provided in April of "down around 25%," amid the COVID-19 pandemic. Hamann said that "it's hard to call the bottom," given all the uncertainty surrounding reopenings of businesses and whether there will be a resurgence in outbreak with the coronavirus. "But the last couple weeks with the auto manufacturers opening back up, I would say the trend is looking a little bit better and it's making everyone feel maybe just a little bit more confident that we're on the right path here," Hamann said. The stock has gained 6.9% over the past three months, while the Dow Jones Transportation Average /zigman2/quotes/210598063/realtime DJT +0.20% has slipped 3.4% and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.20% has lost 3.9%.