More than 16 months after the New York Stock Exchange suspended trading of Navistar International stock, the company stock will return to trading on Monday, June 30.
The Exchange suspended trading of the company’s stock on Feb. 7, 2007, because the Navistar officials had not issued financial statements since September 2005.
In a step toward returning to trading status, Navistar filed first-quarter and second-quarter 2008 Form 10-Qs with the Securities and Exchange Commission on Friday, June 27, according to a company press release.
Catching up on the company filings paves the way for trading of Navistar stock to resume on Monday, according to the press release.
“We’re happy to be caught up with our financial reporting. We will keep our focus on delivering on our commitments to shareholders,” said Daniel C. Ustian, Navistar chairman, president and chief executive officer.
Despite hard economic times facing the trucking industry – and the economy as a whole – Navistar’s stock won’t be returning to trading with gloomy news of its own.
“In one of the weakest commercial truck markets in recent history, we are set to surpass our $15 billion revenue goal for 2009 a year early and to realize nearly $1 billion in manufacturing segment profit,” Ustian said.
Navistar common stock will trade under its original ticker symbol NAV; Navistar preferred stock will trade under NAVPrD.