NEW YORK (TheStreet) — Activist investor Carl Icahn is doubling down on Navistar after launching a mistimed bet on truck manufacturers a year ago.
On Friday, Icahn disclosed that he’s upped his stake in Navistar to nearly 12% from 10.6%, buying up 883,200 shares at an average price of $24.44, according to a filing with the Securities and Exchange Commission. That comes after Icahn opened a top position in the Lisle, Ill- based truck maker’s shares when they were trading above $30 in the fall of 2011.
Icahn — who is a top shareholder in Navistar — also took a near 10% stake in truck maker Oshkosh last June, in an activist investment that comes amid falling government orders for trucks, fire engines and military vehicles. So far, Icahn’s big rig play has performed poorly as he’s struggled to get both truck makers to consolidate or induce drastic change. …
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Read more: Icahn Boosts Navistar Stake After Trucks Bet Hits Speed Bump
The SPDR Gold Trust (GLD) recorded $897M in outflows yesterday, the largest decline since August 2011. Commerzbank wants to see more days of outflows, but says it’s surely a negative if even ETF investors are caught up “in the selling pull.” More: Central GoldTrust (CTU) now trades at a discount to NAV vs. an average 3.4% premium over the past year. 5 comments!
Read the original here: The SPDR Gold Trust (GLD) recorded $897M in outflows yesterday, the largest decline since August 2011. Commerzbank wants to see more days of outflows, but says it’s surely a negative if even ETF investors are caught up "in the selling…
‘The sat nav’s programmed to guide you straight back here’
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The German-UK consortium building the operational spacecraft for Europe’s Galileo sat-nav system wins a contract to provide an additional eight units.
Read the original post: More Galileo satellites ordered