Market Currents

• Monday, December 14, 2009

• 17:03 PM BAE Systems (BAESY.PK +1.3%) and Navistar (NAV +5.1%) prevailed in their protest of an estimated $3B armored-vehicle deal the Army made with Oshkosh (OSK -11.3%). The Government Accountability Office called the Army's evaluation "flawed" and said it should re-evaluate the proposals. (previously) Comment!

• Thursday, September 10, 2009

• 09:00 AM Premarket gainers: DVAX +82%. RNWK +14%. SWHC +14%. UAUA +13%. VICL +10%. LCC +9%. OCNF +7%. RFMD +6%. BX +5%. YRCW +5%. SWKS +5%. AMR +5%. DAL +4%. AIB +4%. YHOO +4%. ALU +4%.
  Losers: MON -8%. NAV -7%. Comment!
• 08:24 AM JPMorgan drops Navistar International (NAV) to Netural from Overweight, saying the truckmaker faces "mounting risks going into 2010," including the loss of significant market share and lower military revenue. Shares -7.5% premarket, in part due to disappointing FQ3 earnings last night. 1 Comment

• Wednesday, September 9, 2009

• 17:39 PM Navistar International (NAV): FQ3 EPS of -$0.16 does not compare to consensus of $0.69. Revenue of $2.5B (-38%) vs. $2.7B. Lowers full-year EPS guidance, which includes effects of Ford (F) settlement, to $4.95-5.25 vs. $2.92. Shares -5.1% AH. (10-Q) Comment!
• 00:05 AM Notable earnings after Wednesday's close: NAV, NCS, SWHC Comment!

• Tuesday, September 8, 2009

• 12:11 PM Oshkosh Truck (OSK +0.4%) is forced to halt work on a multibillion-dollar truck contract for the U.S. army after two losing bidders - BAE Systems and Navistar International (NAV -0.75%) - file protests with the GAO. In a note titled Moan, moan, moan, defense analyst Rob Stallard says the protest is the latest in a series filed on major defense programs, and that protests now appear to be "standard practice for the industry." 1 Comment

• Wednesday, July 1, 2009

• 09:00 AM Premarket gainers: OSK +30%. BORL +18%. SNX +6%. AMAG +6%. HGSI +4%. SAY +4%.
  Losers: BEAT -39%. FRPT -33%. MYGN -21%. IMMR -19%. ZZ -11%. SPPI -8%. ACOR -7%. NAV -7%. SQNMM -5%. NVAX -5%. LYG -4%. 1 Comment

• Tuesday, June 9, 2009

• 09:11 AM Premarket gainers: MRNA +102%. FCEL +28%. SAY +18%. TXN +7%. CSUN +7%. VVUS +6%. SOL +6%. RFMD +6%. FRO +6%. ADCT +6%. TC + 6%. CSUN +5%. STP +5%. ETFC +5%.
  Losers: ZQK -15%. NAV -10%. ANPI -5%. Comment!

• Tuesday, February 24, 2009

• 07:38 AM We're still interested in GM's (GM) medium-duty truck unit, Navistar International (NAV) CEO Dan Ustian says at a summit, just so long as he's not forced to assume GM's Flint, Michigan plant. A previous deal collapsed because GM was unable to keep its commitment to the union to find jobs for displaced workers. Comment!

• Wednesday, December 31, 2008

• 07:22 AM Truck and engine maker Navistar (NAV) says it lost $343M in Q4, including a $358M impairment charge related to its diesel engine business for Ford (G) pickup trucks. Net of special items, NAV earned $1.31/share, topping estimates of $0.88. (Reuters) Comment!

• Thursday, September 4, 2008

• 08:51 AM Trading higher on earnings/comps: NAV +9%. ZUMZ +9%. BKE +3%. SAI +2%. Comment!