Navistar (NAV) Holding Decreased By Owl Creek

An SEC filing made by Owl Creek Asset Management revealed that it has lowered its stake in Navistar International Corporation (NYSE:NAV). The filing disclosed that Owl Creek now holds a 4.4% stake in the company. The actual reduction was from 3,990,433 common shares to just 3,022,130 shares. The larger number was disclosed on February 23rd last. The company's stock was down 1.2% at time of writing this afternoon.

Navistar, which builds and sells heavy vehicles and their parts, received a positive outlook today from Sterne Agee the Auto Industry research group. That report said that Navistar could represent 20%...