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Stock Market & Financial Investment News

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February 12, 2013
07:02 EDTNAVMahindra completes purchase of Navistar stake in India JVs
Mahindra has completed its purchase of the Navistar Group's stake in Mahindra Navistar Automotives Ltd and Mahindra Navistar Engines Pvt Ltd. The deal has received regulatory approval in India and Mahindra has now taken complete ownership of operations and will continue to sell MNAL and MNEPL products. As announced in December 2012, the agreement allows Navistar to continue sourcing components from India while Mahindra would continue to provide engineering services to Navistar. The Navistar group will continue to support M&M through license agreements and extend necessary support to MNAL and MNEPL for the purposes of business continuity.
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February 20, 2015
12:53 EDTNAVCitigroup sees truck carrier stocks poised to outperform
With the U.S. economy growing quickly, the stocks of truck carriers are likely to outperform the S&P 500, Citigroup believes. WHAT'S NEW: Truck transportation prices and truck carrier stocks "respond most directly to economic growth," Citigroup analyst Christian Wetherbee wrote in a note to investors today. After carriers' truckload rates rose 4% last year, the rates should rise by a similar amount this year, Wetherbee predicted. Economic growth, along with the difficulties the carriers are experiencing with recruiting drivers, should be supportive of additional rate increases, the analyst stated. Wetherbee warned that the stocks of truck builders usually underperform during periods such as the current one, when a large amounts of U.S. class 8 trucks are being built. Consequently, truck carrier stocks present investors with an opportunity, while investors should be cautious on truck builders and parts suppliers, he wrote. Among truck carriers, Swift (SWFT) is particularly attractive, since it has underperformed its peers over the last year, Wetherbee stated. Additionally, the company's results appear likely to at least meet consensus estimates, the analyst predicted. He also kept a Buy rating on another truck carrier, Knight Transportation (KNX) and maintained a Buy rating on Cummins (CMI), which builds truck engines. The analyst kept a Hold rating on truck builder PACCAR (PCAR). OTHERS TO WATCH: Navistar (NAV) builds trucks and Celadon (CGI) is another truck carrier. PRICE ACTION: In early afternoon trading, Swift rose 1%, Knight Transportation gained 1.3%, Cummins added 0.7%, and PACCAR lost 0.5%.
February 17, 2015
17:06 EDTNAVIcahn gives quarterly update on stakes, takes new stake in Manitowoc
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