Navistar International Corp.'s stock tumbled 9% in premarket trade Wednesday, after the truck and diesel engines maker swung to a wider-than-expected fiscal second-quarter loss. The net loss for the quarter to April 30 was $80 million, or 86 cents a share, compared with a profit of $4 million, or 5 cents a share, in the same period a year ago. The latest quarter's results include $18 million in adjustments resulting from pre-existing warranties, asset impairment and debt financing charges and restructuring costs. The FactSet consensus was for a loss of 2 cents a share. Revenue slipped to $2.10 billion from $2.20 billion, just above the FactSet consensus of $2.07 billion. Truck segment sales fell 6% to $1.4 billion, while the segment's loss increased to $56 million from $23 million, due primarily to higher used truck losses, market pressures and lower market volumes. The company affirmed its guidance for 2017 revenue to be "similar" to 2016. The stock had run up 16% over the past two sessions, boosted by an analyst upgrade on Monday. It has lost 4.6% year to date through Tuesday, while the S&P 500 has gained 8.5%.
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