Navistar Trades Higher on Icahn Stake Friday, October 14, 1:30 PM ET
NAV) shares are trading higher today after activist investor Carl Icahn said late yesterday in a regulatory filing that his firm had taken a 9.8% stake in the company.
Icahn's stake in the truck maker amounts to about 7 million shares.
In the filing, Icahn said shares of the company are undervalued, and he has been in discussions with the company's management.
Icahn also owns a stake in fellow vehicle and equipment maker Oshkosh (NYSE:
Icahn is known for taking a large stake in a company, often appointing board members, and attempting to extract value from the company via takeover plans and other methods.
He abandoned an attempt to buyout Clorox (NYSE:
CLX) in September, and gave up activist movements at Lions Gate Entertainment (NYSE: LGF) over the summer.
For MarketNewsVideo.com, I'm Kristin Bianco.
Nasdaq 100 Movers: MYL, EBAY
Related symbols: MYL, EBAY, WDC, YHOO
Dow Movers: MRK, CAT
Related symbols: MRK, CAT, JNJ, HD
S&P 500 Movers: CHK, CAG
Related symbols: CHK, CAG, RHI, ACN
Thursday Sector Laggards: Drugs, Gas Utilities
Related symbols: ITCI, ADHD, FGP, CPK
Thursday Sector Leaders: Oil & Gas Exploration & Production, Oil & Gas Equipment & Services
Related symbols: PACD, OAS, HOS, WG
Wednesday Sector Laggards: Home Furnishings & Improvement, Music & Electronics Stores
Related symbols: TPX, SCSS, CONN, JD
Thursday's ETF with Unusual Volume: VLUE
Related symbols: VLUE, BAC, MRO, MPC
Thursday's ETF Movers: OIH, XPH
Related symbols: SPN, RIG, ITCI, SUPN, XPH, OIH
UCO, SEF: Big ETF Outflows
Related symbols: UCO, SEF
Daily Dividend Report: MCD, JOUT, EOG, BKU, GBCI
Related symbols: MCD, JOUT, EOG, BKU, GBCI
Daily Dividend Report: OGE, GIS, MKC, MAA, WGL
Related symbols: OGE, GIS, MKC, MAA, WGL
Daily Dividend Report: AXP, SNX, CLC, MA, HRL
Related symbols: AXP, SNX, CLC, MA, HRL
Weekly Market Wrap: August 14, 2015
Related symbols: BAC, AMAT, AAPL, S, SYY
Weekly Market Wrap: August 7, 2015
Related symbols: SUNE, BAC, CHK, GRPN, AAPL
Weekly Market Wrap: July 31, 2015
Related symbols: BAC, MU, AAPL, SUNE, FB
Week Ahead Market Report: June 8, 2015
Related symbols: BAC, FTR, AAPL, INTC, MNKD
Week Ahead Market Report: May 18, 2015
Related symbols: BAC, AAPL, VALE, T
Week Ahead Market Report: May 4, 2015
Related symbols: BAC, AAPL, MSFT, ICLD, NOK
All videos » |
Stock market definitions »
Navistar Trades Higher on Icahn Stake
| Market News Video | Copyright © 2008 - 2016, All Rights Reserved
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.