News Breaks |
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| September 10, 2012 |
| 05:09 EDT |  | NAV | Navistar International: Carl C. Icahn issues open letter to Board
Carl C. Icahn issued the following letter to the Board of Directors of Navistar International; "As you know, I am one of the largest holders of shares of common stock of Navistar International, holding nearly 15% of the outstanding stock. I am writing this letter to express my grave concern about the future of Navistar, a company that, in my opinion, has become a poster child for abysmal business decisions and poor corporate governance. At Navistar, where four shareholders hold almost 60% of the stock, it would be a simple matter for this Board to bring substantial holders together to discuss and reach a consensus regarding important decisions concerning the company that WE own. It is therefore outrageous that you have not reached out to obtain our opinion on issues such as choosing a new management team to lead this company. Your choice of Lewis Campbell as Chairman and Interim CEO was worse than ill-advised, since you made no attempt to discuss the decision with us, or presumably any of the other substantial holders -- the true owners of this company. I recommend that you permit the voices of shareholders to be heard directly at the Board level by making four Board seats available to shareholders immediately---at this critical juncture in the history of Navistar---before any more damage is done to our company by the existing Board." |
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News For NAV From The Last 14 Days Check below for free stories on NAV the last two weeks. |
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| June 17, 2013 |
| 12:00 EDT |  | NAV | Options with decreasing implied volatility: NAV SUPN PVH IVR DOLE
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| June 14, 2013 |
| 14:47 EDT | | NAV | S&P cuts Navistar Intl, Navistar Financial to B- from B, outlook negative
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| 11:14 EDT | | NAV | Options with decreasing implied volatility: SUPN CTRX NAV ULTA
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| June 13, 2013 |
| 11:55 EDT |  | NAV | Data shows NAV truck market struggled in May, says Wells Fargo
Wells Fargo says Ward's U.S. retail sales data for May shows that NAV continues to struggle with market share amid the engine technology transition. Class 8 truck market share for May dropped to 12.5% from 15.0% in April, with PACCAR (PCAR) and Volvo (VOLVY) gaining share and Daimler (DDAIF) losing share, Wells noted, citing Ward's data. |
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| 11:51 EDT | | NAV | Options with decreasing implied volatility: NAV CTRX ULTA LAMR LYV
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| June 12, 2013 |
| 11:32 EDT | | NAV | Options with decreasing implied volatility: TIVO LAMR FRAN RPRX NAV
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| June 11, 2013 |
| 11:43 EDT | | NAV | Options with decreasing implied volatility: SUPN OPK ANN NAV PAY
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| 10:03 EDT |  | NAV | On The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AmerisourceBergen (ABC) upgraded to Outperform from Market Perform at Leerink... Arthur J. Gallagher (AJG) upgraded to Buy from Neutral at Goldman... Catamaran (CTRX) upgraded to Buy from Neutral at UBS... Disney (DIS) upgraded to Outperform from Neutral at Macquarie... Fly Leasing (FLY) upgraded to Buy from Neutral at Citigroup... Navistar (NAV) upgraded to Market Perform from Underperform... Questcor (QCOR) upgraded to Buy from Fair Value at CRT Capital... Talisman Energy (TLM) upgraded to Buy from Hold at Tudor Pickering... Synergetics (SURG) upgraded to Buy from Hold at Craig-Hallum... RBC Bearings (ROLL) upgraded to Outperform from Market Perform at Barrington. |
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| 06:27 EDT | | NAV | Navistar upgraded to Market Perform from Underperform at BMO Capital
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| June 10, 2013 |
| 16:12 EDT | | NAV | Navistar says 'not satisfied' with Q2 results, May had strong start
The company said, "We are not satisfied with our overall financial results this quarter, but we are pleased with the continued progress we made in a number of areas on our turnaround plan. We still face some significant, yet solvable challenges, primarily in the areas of higher pre-existing warranty costs for our earlier EPA 2010 emissions level engines, as well as in rebuilding sales and restoring market share. However, we are already implementing the right leadership and business process changes to effectively address these priority issues...We are off to a strong start as May orders were up 38% versus the average sales rate for the previous quarter, driven higher by strong interest in the MaxxForce 13-liter with SCR and the ProStar ISX." Navistar finished Q2 with $1.16B in manufacturing cash and marketable securities, exceeding its cash guidance range of $1.0B-$1.1B. Navistar's manufacturing cash guidance for the end of Q3 ranges from $1.0B-$1.1B, the company said. |
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| 16:09 EDT |  | NAV | Navistar reports Q2 EPS ex dis ops ($4.39), may not compare to consensus ($1.13)
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| 15:15 EDT | | NAV | Navistar June weekly volatility elevated at 123 into Q2 and outlook
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| June 5, 2013 |
| 15:12 EDT | | NAV | Navistar June volatility elevated at 73 into Q2 and outlook
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