The billionaire investor told clients his firm was subpoenaed by prosecutors in New Jersey, according to a letter obtained by CNBC.» Read More
Since the Dow Jones Industrial Average's recent low on November 15, 2012, the 12 stocks pulled from the blue chip index since 1999 have outperformed the Dow even with new highs.
The Dow is up 20 percent since the recent low on Nov. 15, but 12 stocks that have been kicked out of the index over the years are up an average of 30 percent.
Last week, Navistar shares surged 46 percent, but while Wall Street has been bullish, options trading has been less optimistic.
Some of the names on the move ahead of the open.
Check out which companies are making headlines after the bell Tuesday:
Take a look at some of Wednesday's midday movers.
Take a look at some of Wednesday's midday movers:
*Navistar aims to save up to $175 mln next year. NEW YORK, Oct 29- U.S. truck and engine maker Navistar International Corp is willing to look at the possible sale of any part of its business as it tries to return to profitability, but it is not willing to consider fire-sale prices for its assets, interim Chief Executive Lewis Campbell said on Monday.
CNBC's Herb Greenberg offers his insight on a "trio of trouble," including Under Armour, Navistar and World Acceptance.
Oct 24- Embattled U.S. truck and engine maker Navistar International Corporation said it would sell 10 million common shares to the public to raise about $190 million to fund capital expenditure and other initiatives.
LISLE, Ill.-- Navistar is making a public offering of about 10 million shares of its stock. Earlier this month Navistar International Corp. added a colleague of activist investor Carl Icahn and a former protege of his to its board in order to head off a proxy war.
LISLE, Ill.-- Heavy truck and engine company Navistar International Corp. said Wednesday that it named John Pope to its board. Pope's appointment and Harrison's retirement are effective immediately, keeping the total number of Navistar board members at 10, Navistar said.
Oshkosh needs proactive shareholders to bring a proactive management team together to weather a volatile economy. " Oshkosh said its board would advise shareholders of its position on the offer within 10 business days, and suggested that shareholders not act on the offer until the board has reviewed it.
Oct 11- Activist investor Carl Icahn on Thursday offered to buy all outstanding shares of U.S. truckmaker Oshkosh Corp for $32.50, a 21 percent premium to their Wednesday closing price. Oshkosh needs proactive shareholders to bring a proactive management team together to weather a volatile economy. "
NEW YORK-- Accuride's stock plunged to an all-time low on Wednesday as the company said it would not do as well as it had thought this year. THE SPARK: Accuride, which makes parts for commercial vehicles, previously predicted a full-year loss of 5 cents to 12 cents per share.
Oct 10- Kimberley Rare Earths:. *Withdrawal from Cummins range joint venture. *Kimberley rare earths-reached agreement with Navigator Resources to transfer.
Oct 9- Stronger demand for aluminum products from airplane and automobile producers helped Alcoa Inc's third-quarter profit beat Wall Street's expectations, offsetting weak aluminum prices and worries about China's slumping economy.
WEAK ASIA: The World Bank warned that a "more pronounced slowdown" is possible in China. MOVERS: Navistar rose $1.60 to $22.81 after the truck and engine maker said it will add two board members associated with activist investors, heading off a proxy battle.
Investors looked warily at forecasts for poor U.S. corporate earnings and weaker growth in Asia and decided there wasn't much reason to buy stocks. Companies in the S&P 500 index are expected to post an overall decline in profits for the first time in 11 quarters, according to FactSet.
U.S. stocks declined after the World Bank cut growth forecasts for East Asia, highlighting concerns about the global economic climate and corporate profits on the cusp of the quarterly earnings season.