Shares of Union Pacific Corporation UNP performed well on the bourses yesterday, closing the trading session at $241.35, up 1.34% from Aug 16’s closing price. The uptick was owing to the bullish commentary by management on volumes for the third quarter of 2022.The favorable update was provided at the Deutsche Bank Transportation Conference for 2022. At the presentation, management stated that overall volumes for the third quarter were up 2% year over year as of Aug 11, 2022. The improvement was owing to the easing of labor problems and congestion-related headwinds at this railroad operator, which currently carries a Zacks Rank #3 (Hold).Segmentwise, volumes at the bulk division were flat year over year. Third-quarter volumes at the industrial andpremium segments are up 3% and 2%, respectively as of Aug 11. Per UNP CFO Jennifer Hamann, "We're encouraged by the improvement seen in fluidity and crew availability and have begun to place some stored cars back into service."With volumes expected to be strong in the second half of the year, UNP expects current-year carload growth of 4-5%. Riding on improved revenues, the operating ratio (operating expenses as a % of revenues) for the current year is expected to be around 58%. The metric is expected to improve in the second half from the first. In the first six months of 2022, the operating ratio was 59.8%. Lower the value of the metric, the better. Incremental margins in the second half are expected to be around 50%.Key PicksSome better-ranked stocks in the broader Zacks Transportation sector are C.H. Robinson CHRW and SkyWest SKYW, presently flaunting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.C.H. Robinson is being aided by the improving freight scenario in the United States. Efforts to control costs also bode well. Measures to reward CHRW's shareholders instill further confidence in the stock.C.H. Robinson has a pleasant earnings track record. The bottom line surpassed the Zacks Consensus Estimate in three of the trailing four quarters (missing the mark in the remaining one). The stock has witnessed the Zacks Consensus Estimate for 2022 earnings being revised 13.8% upward over the past 60 days.Continued recovery in air-travel demand bodes well for SkyWest. With improvement in air-travel demand, SkyWest carried 32.7% more passengers in first-half 2022 than the year-ago level. As a result, the passenger load factor (percentage of seats filled by passengers) expanded 1450 basis points to 82.1% in first-half 2022. SKYW’s fleet-modernization efforts are commendable as well.The positivity surrounding the SkyWest stock is evident from the Zacks Consensus Estimate for current-year earnings being revised in excess of 100% upward over the past 60 days. SKYW has a Momentum Style Score of A. Want to Know the #1 Semiconductor Stock for 2022? Few people know how promising the semiconductor market is. Over the last couple of years, disruptions to the supply chain have caused shortages in several industries. The absence of one single semiconductor can stop all operations in certain industries. This year, companies that create and produce this essential material will have incredible pricing power. For a limited time, Zacks is revealing the top semiconductor stock for 2022. You'll find it in our new Special Report, One Semiconductor Stock Stands to Gain the Most. Today, it's yours free with no obligation.>>Give me access to my free special report.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Union Pacific Corporation (UNP): Free Stock Analysis Report C.H. Robinson Worldwide, Inc. (CHRW): Free Stock Analysis Report SkyWest, Inc. (SKYW): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research