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Shares of truckmaking companies leg down briefly after rumors surface about
July Class 8 truck orders tracking below expectations
Truck-and-engine maker Navistar International Corp. said Thursday that it is
the target of a Securities and Exchange Commission investigation "related
to certain accounting and disclosure matters" and withdrew its full-year
earnings forecast until September, when it will release third-quarter
results.
Navistar said it expects to post an adjusted third-quarter pre-tax loss of $
80 million to $115 million.
"We expect to return to profitability in the fourth quarter and believe the
company will be in a position to improve margins in 2013 as we realize the
benefits of our integration and ongoing cost reduction initiatives," Dan
Ustian, Navistar's chairman, president and chief executive, said in a
statement.
July Class 8 truck orders tracking below expectations
Truck-and-engine maker Navistar International Corp. said Thursday that it is
the target of a Securities and Exchange Commission investigation "related
to certain accounting and disclosure matters" and withdrew its full-year
earnings forecast until September, when it will release third-quarter
results.
Navistar said it expects to post an adjusted third-quarter pre-tax loss of $
80 million to $115 million.
"We expect to return to profitability in the fourth quarter and believe the
company will be in a position to improve margins in 2013 as we realize the
benefits of our integration and ongoing cost reduction initiatives," Dan
Ustian, Navistar's chairman, president and chief executive, said in a
statement.