Mexican Billionaire Takes a Shot
Argentina's YPF has a friend in Carlos Slim. The Mexican billionaire disclosed an 8.4 percent stake in the oil company, which was nationalized last month by the government in Buenos Aires. YPF rises 8 percent before the bell on my tradeMONSTER platform.
II-VI Cuts Outlook for This Quarter
II-VI cut its guidance for the current quarter ending June 30. Earnings are now expected to be just $0.23 to $0.25 a share, down from its earlier projection of $0.27 to $0.31. Revenue will be no more than $137 million, while it had previously forecast $139 million to $142 million. IIVI fell almost 8 percent after the bell yesterday, but hasn't traded so far this morning.
MHR Building a Stake in Navistar
Navistar International cratered after cutting guidance last week, but now the investment firm MHR Fund Management has revealed a 13.6 percent stake. That's pushing shares higher by more than 2 percent in the premarket.
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