* Illinois - Navistar shares slump as truck-builder faces SEC penalties, Q3 losses
-- Shares in struggling Navistar International Corp. fell on Wednesday as the Lisle truck-builder announced third-quarter losses and possible penalties from the Securities and Exchange Commission... Navistar reported a third-quarter loss of $28 million, or a loss of 34 cents per diluted share, compared with a loss of $2 million, or a loss of 2 cents a share a year earlier. It's the 12th straight quarterly loss for the company... Sales fell to $2.5 billion from $2.8 billion a year earlier, while analysts expected sales of $2.75 billion... And the company's in trouble with the SEC: Navistar said it's received notices from the SEC, indicating the government might seek an injunction, a cease-and-desist order, and/or civil money penalties against the company related to circumstances around Navistar's inability to meet tougher smog emission standards in its engines and the resignation of its former CEO Daniel Ustian.
In Wednesday trading, shares in Navistar fell more than 4 percent, dropping 75 cents to close at $16.61...
Warrensville, ILL, USA - Bloomberg, by Mark Elias - Sep 2, 2015
* North Carolina - Mack Trucks pulls out of Mid-America Trucking Show
-- Mack Trucks, along with Daimler Truck North America (DTNA), Navistar and Volvo Trucks, decided not to exhibit at the 2016 Mid-America Trucking Show (MATS)... Mack spokesman Chris Heffner told HDT Trucking info that because of the other truck makers' decisions to skip the 2016 show, the company has "concern with reduced attendance and reduced return on investment for our involvement in the show.".. According to Trucking info, TNA said it intends to return to MATS in 2017 and attend the show bi-annually thereafter... Sister company Volvo citing reasons similar to DTNA for not attending the show next March. That announcement was followed shortly by Navistar's decision not to attend in 2016... Peterbilt and Kenworth have not yet made a decision about whether or not to attend next year’s show...
(Photo: The 2014 Mid-America Trucking Show) -- Greensboro, NC, USA - Construction Equipment - August 31, 2015Labels: truckmakers news USA
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