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Navistar shares up after company raises forecast

Truckmaker Navistar International raised its forecast for the North American market and said it was on track to reach the high end of 2011 profit target, sending its shares up nearly 4 percent.

The improved forecast on Wednesday overshadowed a first-quarter profit that missed analysts’ expectations as truck margins disappointed. Get the full story »

Navistar reports 1Q loss on weaker sales

Navistar International Corp. reported a fiscal-first-quarter loss as results weakened at each of the commercial-truck maker’s main manufacturing segments. Still, Chairman and Chief Executive Daniel C. Ustian said encouraging industry trends should push full-year earnings to the high end of its previously projected guidance of $5 to $6 a share. Get the full story »

Navistar adds Gen. McChrystal to board

Warrenville-based truck and bus manufacturer Navistar International Corp. has named retired Gen. Stanley A. McChrystal, the former top U.S. commander in Afghanistan, to its board. Get the full story »

Brighter earnings outlook lifts Navistar shares

Shares of Navistar International Corp. rose in early trading Tuesday, after the truck and bus manufacturer said it sees a stronger economy ahead and raised its fiscal 2011 earnings guidance. Get the full story »

Fort Wayne withholds $200K in grants from Navistar

Fort Wayne withheld $200,000 in payments to Navistar International Corp. after the company relocating operations to suburban Chicago did not provide job data. Get the full story »

Navistar posts lower quarterly profit

Navistar International Corp. reported lower quarterly earnings Wednesday, pulled down by employee termination costs from its new union contract. Get the full story »

Navistar gets $123M order for Marines vehicles

Navistar International Corp. said Friday that it has received a $123 million order from the U.S. Marine Corps Systems Command to deliver 175 armored International MaxxPro Dash vehicles. Get the full story »

Chicago Forward: Stocks strong in 2011, not jobs

The stock market is poised to perform well in 2011, but the job market … not so much. That was economic outlook offered by several Chicago-area business experts at a forum Wednesday evening, where some also demanded that city and state politicians tackle swelling fiscal problems.

“I spend a lot of time talking with [company executives] and almost without exception in the last six weeks of the earnings season, the calls have been going better and better,” said John Rogers Jr., chairman and chief executive officer of Ariel Investments. “The CEOs seem more confident, the balance sheets are strengthened and they are starting to talk about hiring again.” Get the full story »

Navistar plans test facility at Melrose Park plant

Navistar International Corp. has announced plans for a new testing facility at its plant in the Chicago suburb of Melrose Park.

Navistar leaders said Friday that they plan to invest up to $90 million in the 80-acre campus over the next few years. Get the full story »

Navistar, UAW reach tentative contract deal

Commercial truck maker Navistar International Corp. and the United Auto Workers Union have reached a tentative agreement on a four-year contract, the company said.

No details of the deal reached late Saturday were released by the company or the union. The agreement is subject to a ratification vote by union members at six Navistar sites. A majority of the members voting on the tentative contract must approve it for the deal to become binding. Get the full story »

Agency OKs $314 million bonds for Navistar, others

The Illinois Finance Authority approved up to $314 million of tax-exempt revenue bonds on Tuesday for truck maker Navistar International Corp and others.

Navistar won final approval for $145 million of Recovery Zone Facility Revenue Bonds to help fund its new headquarters and research and development facility in Lisle, Illinois, and a warehouse in Joliet, Illinois.

To issue the bonds, Navistar must get allocations of the federal Recovery Zone Facility Bond volume cap from other Illinois counties and cities, according to the authority. Get the full story »

Navistar confirms that it will move HQ to Lisle

Navistar representatives, along with roughly a dozen Illinois officials, announced plans this morning to move the manufacturing company’s headquarters to Lisle, retaining thousands of jobs in DuPage County.

“I’ve got one thing to say. Illinois is Navistar country,” said Gov Pat Quinn. “We believe in Navistar.”

Navistar President Dan Ustian added that the project would create about 500 engineering jobs right away. Get the full story »

Navistar swings to 3Q profit, beats estimates

Navistar International Corp. swung to a fiscal third-quarter profit that handily topped analysts’ estimates as sales rebounded and margins widened sharply.

But the revenue growth was less than anticipated and the maker of heavy-duty vehicles lowered its top-line forecast for the year to $12 billion from its upbeat April view of $13.2 billion to $13.7 billion as it said it will defer military revenue to the next fiscal year. But it affirmed its earnings prediction, saying it “has found other measures” to meet the estimate. Get the full story »

Navistar set to announce plan for Lisle site

Officials from Navistar International Corp. are expected to announce the engine manufacturing company’s plan to move its headquarters to Lisle at a Wednesday morning press conference, DuPage County Board president Bob Schillerstrom said Tuesday.
Get the full story »

Caterpillar to build excavator plant in Texas

Caterpillar Inc., the world’s largest maker of construction equipment, unveiled plans for its fourth U.S. expansion project in two weeks, providing much-needed jobs in a limp employment market while allowing the company to strategically place plants in lower-cost regions.

The new facility, a $120 million plant to make excavator machines in Victoria, Texas, will take on production of some equipment currently made in Illinois and Japan. Get the full story »