(Reuters) - NEW YORK, April 9 - U.S. stocks closed flat on Monday as news that billionaire investor Warren Buffett had bought stakes in the railroad sector and strong jobs data offset worries about earnings and subprime loans.
The transport sector rallied after Buffett acquired a stake in three railroad companies in a vote of confidence for not only railroads, but the economy. Shares of Burlington Northern Santa Fe Corp. jumped after Buffett's Berkshire Hathaway Inc. said it acquired a 10.9 percent stake in the company to become its largest shareholder.
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