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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

7/6/2012

Navistar International Corp. (NAV)

Navistar needs to navigate its way upward after a bad day today, down 15.21% at $24.41. Shares of the company stalled out on investor worries that the heavy engine and truck maker will have to incur additional costs to get a crucial new engine approved by federal regulators. Navistar said it was in talks with the EPA on a plan that will allow it to continue shipping trucks while it makes a transition to a new emission-reducing technology that will bring it into compliance with EPA requirements. The company didn't provide any financial details of the plan, except to say that it will require more product development, resulting in additional short-term costs. The additional short-term costs have scared investors away from this stock as many believe it will greatly suppress the companies' earnings.

LaCrosse Footwear Inc. (BOOT)

LaCrosse Footwear had the traction to move upward today, up 81.15% at $19.89. Shares of the company rallied after the company agreed to be acquired at a cash price of $20 a share by Tokyo-based ABC-Mart Inc. The deal for the Portland, Oregon based LaCrosse carries a total price tag of about $138 million. LaCrosse has been down 18.97% over the past year, and has been a struggling stock. The bounce today led the company to trading at its highest price ever, beating its 52-week high by around $5.50. Since its IPO on April 8, 1994 until July 2, 2012, the company grew 53.17%. The news released today allowed LaCrosse Footwear to beat their 18 year growth rate in one day.
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