Navistar loses almost half a billion

Navistar reported a net loss of $460 million for the fourth quarter, which ended October 31, compared with a year-earlier profit of $7 million.

The results included $404 million in restructuring charges and losses from discontinued operations. Excluding those items, Navistar said it lost $60 million from continuing operations in the latest quarter.

Navistar's forecast for a first-quarter loss of $1.45 to $1.55 a share was nearly double what Wall Street had expected.