Diamonds and Dogs
Navistar International (NAV) fires up the engine. The truck and diesel engine maker is jumping 10% following earnings. Navistar easily beat expectations by 35 cents as sales rose 16% to $3.02 billion. On the conference call, management said order activity picked up due to traditional fleet ordering season. The company expects carriers to continue to replace older trucks. For the retail division, the market share will range between 18.5-19%, one point higher than 2018 market share. Even with today's rally, the stock is still not far from a 52 week low.
Tyson Foods (TSN) not all about chicken. Tyson is down 5% after lowering guidance due to slowing chicken processing this year after it recalled millions of pounds of poultry over concerns they contained materials like rubber and metal. Yikes. Tyson is also grappling with volatility in prices for grain used to feed chickens and a fire that shut a large beef plant in Holcomb, Kansas. Other than that, things are great.