Navistar Gains as First Profit Since 2012 Trumps Lower Forecast
- Truckmaker reports second-quarter net income of $4 million
- Investors trim bearish bets as debt worry wanes, analyst says
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Navistar International Corp. surged the most in more than three years after the truckmaker reported a surprise quarterly profit, its first since 2012, outweighing concerns as the company lowered its 2016 forecasts.
The shares gained 24 percent to $15.11 at 12:31 p.m. New York time after rising as much as 29 percent, the biggest intraday jump since March 2013.