DineEquity‘s (NYSE:DIN): Applebees same-restaurant sales has risen 2.0 percent with a higher guest check offset partially due to lower traffic. IHOP same-restaurant sales saw a 2.0 percent drop as a result of lower traffic. The company continued to convert company-owned restaurants to franchise restaurants in the quarter, while it added a net 6 restaurants during the quarter.
Navistar (NYSE:NAV) is willing to consider selling any part of the company in an attempt to return to profitability, interim CEO Lewis Campbell stated yesterday. The truck and engine maker is halfway through a comprehensive review and it “might try to monetize” any business not showing improvement within a reasonable time. However, Navistar has enough cash, so will not find it necessary to sell at fire-sale prices.
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General Motors (NYSE:GM) confirms that there is a strike at a Lears Corp. in Ontario and it is forcing the company to limit production at its Oshawa Assembly Plant located in Ontario. This location is used to build Chevrolet Impala and Chevy Equinox vehicles.
Honeywell (NYSE:HON) has won an $800 million contract to provide equipment for Cessna’s (NYSE:TXT) Citation Latitude and Longitude aircraft, which is expected to include navigation and communications systems. Additionally, Honeywell has been chosen to be the exclusive reseller of Inmarsat’s Global Xpress Ka-band aircraft connectivity services and hardware for business jets, enabling in-flight wireless broadband.
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