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Icahn buys puts $34.2 million in Navistar stock

By: InvestorsObserver
Posted: 4/16/2014 12:58:00 PM
Referenced Stocks: NAV

Bobby Raines 04/16/2014

Activist investor Carl Icahn, who already owned a more than 5% stake in Navistar ( NAV ) , added 1,027,789 shares to his position between April 11 and April 15. At prices between $33.21 and $33.31 per share, Icahn shelled out a total of $34,205,404 for the new shares.

IK-> The technicals for NAV ($34.71 up $0.98) are bearish with an upward trend. Recent support has been near $33.27 and recent resistance has been near $34.87. Standard & Poor's has a three STARs (out of five) ranking on the stock. Look at the July 25/28 bull-put spread for a 30-cent credit. That's an 11.1% return and the stock has to fall 19.3% to cause a problem.  [InvestorsKeyhole, Various news and data services]