On Monday, Fiat Chrysler Automobiles NV (NYSE:FCAU)’s shares inclined 1.35% to $16.57.
Remaining true to its performance roots, the Mopar brand unveiled the next-generation Mopar Dodge Challenger Drag Pak, a factory-prepped package car specifically geared for drag racing. The vehicle, revealed recently at the FCA US LLC Chelsea Proving Grounds, is built on the Dodge Challenger platform and will come with the option of either the brand’s first-ever offering of a supercharged 354-cubic-inch Gen III HEMI® engine or a naturally aspirated 426-cubic-inch Gen III HEMI engine.
The new Mopar Dodge Challenger Drag Pak is designed for passionate Sportsman racers who compete in nationally sanctioned drag racing series, such as the National Hot Rod Association (NHRA). The new generation Drag Pak combines the latest in Sportsman racing technology, a host of upgrades and improvements from the previous generation Drag Pak and unique heritage design cues.
Under a factory hood is the supercharged 354 HEMI engine, with a cast-iron block, forged steel crankshaft, Mopar spec camshaft and a custom performance engine calibration. The 354 nomenclature pays homage to the heritage of the early Gen 1 HEMI engines, which originally displaced 354 cubic inches.
The naturally aspirated 426 Race HEMI engine is built off of a Mopar aluminum block with pressed-in steel liners and aluminum cylinder heads. Like the supercharged engine, the 426 HEMI also comprises a custom engine calibration. The new Drag Pak features a race-prepped automatic transmission, upgraded from the previous generation vehicle, for both the 354 and 426 engine options.
Fiat Chrysler Automobiles N.V., an automotive group, designs, engineers, manufactures, distributes, and sells vehicles and components. It offers passenger cars, light trucks, and light commercial vehicles under the Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Lancia, and Ram brand names, in addition to after-sales services and parts under the Mopar brand name.
Navistar International Corp (NYSE:NAV)’s shares gained 5.37% to $17.65.
Navistar International Corporation (NAV) declared that it has accomplished refinancing the $697.5 million senior secured term loan facility of Navistar, Inc., which was due to mature in August 2017, with a new $1.040 billion senior secured term loan that matures in August 2020. The refinancing will provide additional liquidity and financial flexibility for the company and extend the maturity of the term loan facility. As a result of this transaction, the maturity date of Navistar, Inc.’s $175 million ABL credit facility will also be extended by one year to May 2018.
J.P. Morgan Securities LLC, Goldman Sachs Lending Partners LLC, and Credit Suisse Securities (USA) LLC served as joint lead arrangers and joint bookrunners. JPMorgan Chase Bank, N.A. will serve as Administrative Agent and Collateral Agent.
Navistar International Corporation manufactures and sells commercial and military trucks, diesel engines, and school and commercial buses; and provides service parts for trucks and diesel engines worldwide. It operates through four segments: North America Truck, North America Parts, Global Operations, and Financial Services. The company manufactures and distributes Class 4 through 8 trucks and buses in the common carrier, private carrier, government, leasing, construction, energy/petroleum, military vehicle, and student and commercial transportation markets under the International and IC brands; and designs, engineers, and produces sheet metal components, including truck cabs.
At the end of Monday’s trade, Ball Corporation (NYSE:BLL)‘s shares surged 2.22% to $70.86.
Ball Corporation (BLL), one of the world’s leading suppliers of metal packaging and aerospace technologies, will speak to the investment community at the Jefferies 2015 Industrials Conference in New York on Thursday, Aug. 13.
Ball Corporation, together with its auxiliaries, supplies metal packaging products to the beverage, food, personal care, and household products industries worldwide. It operates in four segments: Metal Beverage Packaging, Americas and Asia; Metal Beverage Packaging, Europe; Metal Food and Household Products Packaging; and Aerospace and Technologies. The Metal Beverage Packaging, Americas and Asia segment manufactures and sells metal beverage containers for use in beverage packaging.
Mead Johnson Nutrition CO (NYSE:MJN), ended its Monday’s trading session with 1.40% gain, and closed at $89.39.
Mead Johnson Nutrition Company (MJN) declared that it has reached a settlement agreement with the U.S. Securities and Exchange Commission (“SEC”) fully resolving the SEC’s investigation of certain of Mead Johnson’s promotional practices in China during the period 2008-2013. The investigation was first revealed by Mead Johnson in 2013. Under the terms of the settlement agreement, Mead Johnson has agreed to disgorgement, in addition to the payment of pre-judgment interest and a penalty, resulting in an aggregate payment of US$12,030,000. This payment is in line with the expense provision the company took related to the SEC investigation within its first quarter, 2015, as revealed in its form 10-Q.
The settlement agreement provides that Mead Johnson neither admits nor denies the allegations in the settlement and order. Further, the agreement credits Mead Johnson for its cooperation with the investigation and for taking a number of positive steps to bolster its compliance program, function and processes.
Mead Johnson Nutrition Company manufactures, distributes, and sells infant formulas, childrens nutrition, and other nutritional products. It offers routine infant formula products as a breast milk substitute for healthy infants for the use as the infants source of nutrition, in addition to a supplement to breastfeeding under the Enfamil Premium, Enfapro Premium, Enfamil A+, and Enfalac A+ names; and solutions products to address common feeding tolerance problems, counting spit-up, fussiness, gas, and lactose intolerance under the Enfamil Gentlease and Enfamil A.R names.
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