Friday Movers (BVSN, NAV, MT)
BroadVision (NASDAQ: BVSN), an Internet software and services company, is trading up over 25% early in the session. Microsoft (NASDAQ: MSFT) is reportedly set to purchase business social networking company Yammer for $1 billion. BroadVision operates under a similar business model as Yammer, and investors may be speculating that BroadVision could be scooped up next.
Navistar International (NYSE: NAV) shares shot up early in the day. Investment Firm MHR Fund Management reported a 14% claim in Navistar earlier today. With this investment, MHR becomes the largest holder.
The CEO of MHR is Mark Rachesky, a former associate of Carl Icahn. Carl Icahn currently has a 12% stake in Navistar.
ArcelorMittal (NYSE: MT) is currently trading up about 4%. ArcelorMittal re-opened one of its steel mills in Cleveland that had been idle for four years. Still, year-to-date, ArcelorMittal is down about 30%.
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Tags: Carl Icahn