Union Pacific 4Q profit up 24 pct on higher prices (AP) - Union Pacific says its fourth-quarter profit jumped 24 percent as the nation's largest freight railroad increased prices and hauled more cargo. CEO Jim Young says he expects the economy to continue growing at a slow, steady pace in 2012. Union Pacific shares rose more than 3 percent in premarket trading. The Omaha-based railroad said Thursday that its net income rose to $964 million, or $1.99 per share, during the last three months of 2011. That's up from $775 million, or $1.56 per share, a year ago. Union Pacific Corp. said the carloads it carried grew about 3 percent overall during the quarter with strong growth in chemical, automotive, energy and industrial shipping. Its revenue grew 16 percent to $5.1 billion. Analysts surveyed by FactSet expected Union Pacific to report earnings per share of $1.82 on $5.05 billion revenue.