Tenneco Inc.NYSE
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  • Thu, Dec. 1, 10:59 AM
    • Auto supplier stocks are solidly higher as many automakers are beating estimates with their reports on U.S. sales for November.
    • Although a high level of incentive spending could dampen enthusiasm when the auto companies report earnings, that's no bother for names like American Axle Manufacturing (AXL +5.4%), Modine Manufacturing (MOD +5.5%), Dana (DAN +4%), BorgWarner (BWA +3.3%) and Tenneco (TEN +3.9%) that are looking for volume.
    | Thu, Dec. 1, 10:59 AM | 1 Comment
  • Wed, Nov. 9, 11:45 AM
    • While there are pockets of strength in the U.S. stock market following the GOP sweep, the automobile sector is deeply rattled by the results. Concerns on trade wars and higher tariffs are impacting trading.
    • General Motors (GM -4.1%) and Kandi Technologies (KNDI -10.1%) are down sharply on the manufacturing side, while suppliers Delphi Automotive (DLPH -7.2%), Lear Corp. (LEA -6.5%), Motorcar Parts of America (MPAA -5.8%), BorgWarner (BWA -4.5%), Tenneco (TEN -3.4%), and Visteon (VC -3.5%) are also showing weakness.
    | Wed, Nov. 9, 11:45 AM | 15 Comments
  • Tue, Nov. 8, 9:04 AM
    | Tue, Nov. 8, 9:04 AM | 4 Comments
  • Fri, Oct. 28, 7:33 AM
    • Tenneco (NYSE:TEN): Q3 EPS of $1.53 beats by $0.04.
    • Revenue of $2.1B (+4.0% Y/Y) misses by $20M.
    • Press Release
    | Fri, Oct. 28, 7:33 AM
  • Thu, Oct. 27, 5:30 PM
    | Thu, Oct. 27, 5:30 PM | 2 Comments
  • Tue, Oct. 11, 9:33 AM
    | Tue, Oct. 11, 9:33 AM | 18 Comments
  • Wed, Sep. 21, 10:09 AM
    • Tenneco (TEN +1.8%) says it's supplying 2016 Ford F-650/F-750 medium duty trucks with full exhaust systems. The commercial-grade trucks are currently in production.
    • "The emission control technologies featured on both the diesel and gasoline engines of the Ford F-650 and F-750 demonstrate the strength of Tenneco’s full suite of aftertreatment solutions and our ability to help deliver the fuel economy and performance these engines require," says a top Tenneco exec.
    • Source: Press Release
    | Wed, Sep. 21, 10:09 AM | 1 Comment
  • Wed, Aug. 31, 10:26 AM
    • U.S. auto sales are expected to show a decline of 2% to 5% for August amid a dialing back of discounting activity, according to the range of forecasts from Kelley Blue Book, Edmunds, J.D. Power, and LMC Automotive. General Motors  is poised to report a loss of market share as its plan to cut out fleet sales impacts volume.
    • Bloomberg estimates the seasonally adjusted selling rate for the month will be 17.2M, down from 17.9M last month.
    • The sales dip isn't necessarily a bottom line drag for the sector due to reduced discounting and the increasing mix of higher-profit SUVs and trucks. But higher profit hasn't lifted automaker stocks this year, with the group having trouble gaining traction and trading with low forward PE multiples (GM 5.5, Ford 6.8, Honda 10.5, Toyota 10.9).
    • Auto parts stocks (LEA, TEN, BWA, DAN, MPAA, CPS, DLPH, AXL, TOWR, ACW, FENX, MTOR, THRM, SMP, ALV, MOD, SRI) will be on watch tomorrow when the reports roll in as the sector frequently sees some extra volatility on days U.S. auto sales are disclosed.
    | Wed, Aug. 31, 10:26 AM | 66 Comments
  • Tue, Aug. 16, 9:35 AM
    • Ford (NYSE:F) says it will make an announcement at 2:00 p.m. EDT to discuss the company's expanding presence in Silicon Valley and autonomous vehicle development.
    • The automaker will also host a conference call with analysts at 4:00 p.m. to discuss its smart mobility ambitions. The roster of Ford execs on the call include global development and technology heavyweights.
    • Earlier today on CNBC, CEO Mark Fields joined the group of leaders predicting a seismic change in the automobile industry.
    • "Our view is autonomous vehicles could have just as much [of an] impact on society as Ford's moving assembly line did 100 years ago," Fields noted. In an important revelation, Fields says more customers are telling the company that they are interested in the autonomous driving option -- an anecdote that  runs counter to the view of some that drivers don't want to give up the wheel (partially or fully).
    • Field hinted that the scheduled autonomous announcement for today will be significant. It's a development that could have some bearing on the self-driving plans of General Motors (NYSE:GM), Audi (OTCPK:VLKAY), Tesla Motors (NASDAQ:TSLA), Nissan (OTCPK:NSANY), and Toyota (NYSE:TM). Lyft (Private:LYFT) and Uber (Private:UBER) are also feeling their way around the autonomous driving landscape. Plenty of auto suppliers such as Mobileye (NYSE:MBLY), Autoliv (NYSE:ALV), BorgWarner (NYSE:BWA), Tenneco (NYSE:TEN), Dana (NYSE:DAN), STMicroelectronics (NYSE:STM), and Delphi Automotive (NYSE:DLPH) will also be listening intently to details on Ford's plans.
    • Previously: Ford pushes the accelerator on autonomous vehicles (Aug. 16)
    | Tue, Aug. 16, 9:35 AM | 141 Comments
  • Tue, Aug. 2, 10:33 AM
    • Auto parts stocks after lower after Detroit automakers disappoint with July U.S. sales growth.
    • The sector has been on watch since last week when Ford warned on a plateauing of the U.S. automobile market.
    • Leading decliners include Lear (LEA -4.7%), Tenneco (TEN -3.8%), BorgWarner (BWA -3.8%), Dana Holding (DAN -3.2%), Motorcar Parts of America (MPAA -3.3%), Cooper-Standard Holdings (CPS -2.9%), and Delphi Automotive (DLPH -2.4%).
    | Tue, Aug. 2, 10:33 AM
  • Fri, Jul. 29, 7:32 AM
    • Tenneco (NYSE:TEN): Q2 EPS of $1.78 beats by $0.17.
    • Revenue of $2.21B (+3.8% Y/Y) misses by $30M.
    • Press Release
    | Fri, Jul. 29, 7:32 AM
  • Thu, Jul. 28, 5:30 PM
  • Thu, Jul. 21, 11:57 AM
    • Auto parts stocks are rallying after strong reports from Dana Holding (DAN +9.7%), Johnson Controls (JCI +3.4%), and General Motors.
    • GM showed strong results in North America and issued reassuring guidance, while both Dana and Johnson beat on the top line.
    • Sector movers: BorgWarner (BWA +2%), Accuride (ACW +3.2%), Fenix Parts (FENX +4.8%), Tenneco (TEN +3.6%), Westport Fuel Systems (WPRT +4%), Cooper-Standard Holdings (CPS +2.8%), and Meritor (MTOR +2.2%).
    • Previously: GM +4% as profit surges, full-year guidance raised (July 21)
    • Previously: More on Dana Holding's Q2 (July 21)
    | Thu, Jul. 21, 11:57 AM | 5 Comments
  • Mon, Jun. 6, 8:26 AM
    • Tenneco Inc. (NYSE:TEN) announces it commenced a cash tender offer for any and all of its outstanding $500M 6 7/8% Senior Notes due 2020.
    • The tender offer will expire on June 10, 2016.
    • Holders of notes who validly tender their notes will be eligible to receive in cash $1,038.10 for each $1,000 principal amount of notes that are accepted by Tenneco.
    • Tenneco has engaged BofA Merrill Lynch to act as dealer manager in connection with the tender offer.
    | Mon, Jun. 6, 8:26 AM
  • Tue, Apr. 26, 5:58 PM
    • Tenneco (NYSE:TEN), which had been expected to suffer a rough ride in the wake of Volkswagen's diesel emissions scandal, said in today's earnings call that it expects to benefit from increased regulations on automakers; shares closed +14% in today's trade.
    • The auto parts supplier posted a solid Q1 earnings beat and indicated its outlook will brighten further, saying it expects annual revenue growth of 6%, excluding currency fluctuations.
    • TEN sees its growth accelerating in both 2017 and 2018 "primarily due to new light vehicle emissions regulations beginning to take effect in North America and Europe."
    • BorgWarner (NYSE:BWA) and Delphi Automotive (NYSE:DLPH) were among other emissions-related suppliers under pressure in the wake of Volkswagen's disclosure; the two companies report their earnings over the next 10 days.
    • Now read Tenneco: Buy a high quality business at a low valuation
    | Tue, Apr. 26, 5:58 PM
  • Tue, Apr. 26, 9:53 AM
    • Tenneco (TEN +8.1%) reports revenue rose 9% if the impact of currency swings is backed out in Q1.
    • Clean Air division revenue increased 7.8% to $1.515B (+10% after excluding the currency impact).
    • Ride Performance division revenue grew 0.5% to $621M (+8% after excluding the currency impact).
    • Original equipment light vehicle revenue expanded 7.6% to $1.577B.
    • Global aftermarket revenue increased 8% due to higher sales in Europe, South America and North America.
    • Adjusted EBIT improved 30 bps to 6.5%.
    • Q2 Guidance: Revenue: +6% (excluding currency impact).
    | Tue, Apr. 26, 9:53 AM