Sep 4, 2013

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Hot Morning Movers: Navistar International Corp. (NSYE:NAV) and Dollar General Corp. (NYSE:DG)

Hot Morning Movers: Navistar International Corp. (NSYE:NAV) and Dollar General Corp. (NYSE:DG)

Navistar International Corp. (NSYE:NAV) jumped to a fiscal third-quarter loss as the commercial truck manufacturer reported lesser volumes in its main North America truck business, and it also unleashed a cost-lowering program to secure $50 million to $60 million annually beginning coming fiscal year.

The firm held responsible for the drop in volume to the impact of its shift to its new emissions treatment system and sluggish industry environment.

Navistar has been caught up in a streak of quarterly losses as the firm witnesses increasing costs for warranty claims on its new 13-liter engines and rising costs for adopting a variant exhaust treatment system for its engines.

Dollar General Corp. (NYSE:DG) declared that its second-quarter profit jumped up to $245.5 million, or 75 cents per share, as compared to $214.1 million, or 64 cents per share, a year ago.

Revised to omit few expenses, like a legal settlement, the firm declared earnings of 77 cents per share, higher as compared to 69 cents a year ago.

Revenue jumped up to $4.4 billion, as compared to $3.9 billion a year ago, the retail firm reported on Wednesday. Experts had predicted earnings of 74 cents per share on revenue of $4.4 billion, as per reported by FactSet. Shares in Dollar General were flat at $53.88 in premarket session.

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