Navistar International Corp. is turning into the cheapest takeover target in the world among commercial truckmakers as billionaire Carl Icahn and his former protege push the company to boost its valuation.
Evergrande Real Estate Group Ltd., China’s second-biggest developer by sales, fell by the most since September in Hong Kong trading after it was targeted in a newsletter by short-seller Citron Research. Evergrande said claims in the report were untrue.
No large U.S. company is attracting more attention from short sellers than Facebook Inc., amid bets the world’s biggest social-networking company will keep falling after losing $27 billion since its initial public offering.
U.S. stocks rallied, driving the Standard & Poor’s 500 Index to its best weekly gain since December, amid speculation European and American central banks will join China in trying to spur economic growth.
The cost to short sell Facebook Inc. has surged to the most-expensive level in a 10-point scale developed by Data Explorers Ltd., which said bets against the social-media company amount to 4.3 percent of shares sold in the company’s initial public offering.
Investors flocked to the options market to protect shares of Facebook Inc. from more losses, making contracts on the social network website the most popular among the biggest initial public offerings in the last decade.
Hedge fund managers such as Steven A. Cohen raised short positions in Spanish wind-turbine maker Gamesa Corp. Technologica SA to the highest since June 2009 as Chinese producers increased competition for sales.
The shipping industry is offering fewer targets for investors betting on declining share prices after its 80 biggest listed companies lost $99 billion of market value in four years, hedge-fund managers said.