Navistar Shares Rally on Partnership with Volkswagen

September 7, 2016

Following the announcement of the partnership with Volkswagen yesterday, Navistar shares saw an remarkable increase of 60 percent for Friday’s closing price. Even though the stock has dropped a tad since then, the crowd is still abuzz about this alliance, so stay tuned to Sentifi for the latest updates.

Sentifi Top Attentions September 7

1/ Navistar International: Shares rise a total of 40 percent thanks to Volkswagen partnership

The deal is simple. Volkswagen offers an unspecified equity investment. The two companies have framework agreements for strategic technology and supply collaboration, on top of a procurement joint venture. Another thing they share in common aside from the partnership is the struggle to clean up diesel engine emissions. Speculations are floating around that Volkswagen would save Navistar’s diesel truck business, or even outright buy the company. After all, VW’s truck division CEO said in regards to a full merger with Navistar: “On our way to becoming a global champion all options are open.”

2/ Autoliv: Partners with Volvo in an autonomous-driving joint venture

Autoliv's partnership with Volvo helped it make it to Sentifi Top Attentions September 7.
Autoliv and Volvo team up to develop autonomous-driving software. (BidnessEtc)

The autonomous car craze continues! Carmaker Volvo and supplier Autoliv partner to develop “the next generation of autonomous-driving software” for sale. Approximately 200 team members from both companies will join the venture, which will grow to 600. The venture is expected to hit the ground running in early 2017.

3/ British Airways: Protests and a system glitch affect more than 120 flights

The Black Lives Matter UK movement has moved to London City Airport for protest, which forced the airport to close for six hours. Couple that with a computer glitch, and British Airways had to cancel, delay or divert more than 120 flights. The airline’s shares, which appeared to immune to the commotion, rose 1.5 percent.

4/ ITT Educational Services: Shuts down after 50 years in operation

Being one of the largest operators of for-profit technical schools in the U.S., ITT has announced its closure after the Education Department decided ITT would not be allowed to “enroll new students who rely on federal loans and grants, award raises, pay bonuses or make severance payments to its executives without government approval. The decision came following ITT’s two years of allegations of fraud, deceptive marketing and steering students into predatory loans.

5/ Enbridge: Acquires Spectra Energy for $28 billion

Enbridge's acquisition of Spectra helped it make it to Sentifi Top Attentions September 7.
Enbridge and Spectra will create North America’s largest energy infrastructure company. (CBC)

The two companies will create the largest energy infrastructure company in North America. Shares of Enbridge and Spectra jumped 5.05 percent and 13.4 percent, respectively. It shows a level of confidence from traders that antitrust and financing concerns are minimal.

6/ Sports Direct: Will put a workers’ representative on the board after being under fire for staff treatment

The company also abolished zero-hour contracts for its directly employed, casual retail staff, and instead will employ them for at least 12 guaranteed hours a week. It also promised the board move will offer great benefits and provide input that is invaluable. The company is being under fire for terrible staff treatment and working condition.

7/ Fresenius: Acquires Quironsalud in $6.4 billion deal

The deal creates a new group woth more than 100,000 employees and 155 health centers. It will still be subject to regulatory approval, which is expected to close by the fourth quarter of 2016 or the first quarter of 2017.

8/ CoLucid Pharmaceuticals: Shares jump 97 percent thanks to migraine drug trial success

The company announced the success in the first of two late-stage FDA clinical trials. The drug was well tolerated by patients and resulted in no serious adverse effects.

9/ Bill Ackman: Purchases 2.9 million shares in Chipotle

Bill Ackman's decision to invest in Chipotle is a good sign for the company, helping it make to Sentifi Top Attentions September 7.
People walk past a Chipotle restaurant on Broadway in Lower Manhattan on February 8, 2016 in New York City. (Photo by Andrew Renneisen/Getty Images)

The billionaire investor has set his target on Chipotle as his Pershing Square Capital Management acquired 2.9 million shares or 9.9 percent stake in Chipotle for $1.2 billion. Ackman is now the second-largest shareholder in the company after Fidelity Investments.

10/ Navidea Bio Inc: Shares jump 52.9 percent after agreeing to sell North American rights to its drug

Navidea has signed a letter of intent to sell its North American rights to its drug Lumphoseek to U.S.-based Cardinal Health Systems. The deal includes an $80-million payment up front, which could go up to $310 million longterm if certain conditions are met.

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