Monday, May 13, 11:07 AM
More Chinese companies are popping up in Detroit as they prepare for the eventuality of a major Chinese auto manufacturer selling cars in the U.S. For the most part, the firms are flying under the radar, but the numbers are starting to swell. The Detroit Chinese Business Association now has over 100 Chinese-owned businesses in its membership with the largest percentage geared toward supplying the automobile industry. It's a trend to watch for auto suppliers (AXL, ARMH, ALV, BWA, CLC, DAN, FDML, GNTX, JCI, MGA, TEN, TRW, WBC) used to having a home field advantage with the Big Three automakers.
Monday, April 29, 11:36 AM
Tenneco (TEN +0.1%) settles in after a slight bout of early morning volatility after reporting Q1 earnings that beat expectations. Net profit surged despite a dip in sales as the year-earlier period was skewed by $17M in refinancing-related charges. Revenue from its clean-air segment rose 0.9% on strong light vehicle production in China, but was offset by a 3.2% decline in its ride-performance business amid weaker vehicle revenues in Europe and North America.
Thursday, October 25, 2012, 10:42 AM
Tenneco (TEN +13.8%) shares soar as Q3 results for the producer of emission control and ride control products benefits from a significant tax adjustment. For the current quarter, TEN sees North America aftermarket revenue in line with a strong Q4 a year ago, but expects sustained economic weakness in Europe hurting results in Europe, South America and India.
Comment![Energy, Earnings, On the Move]
Thursday, October 25, 2012, 8:11 AMTenneco (TEN): Q3 EPS of $0.85 in-line. Revenue of $1.78B (flat% Y/Y) misses by $170M. (PR)
Thursday, July 26, 2012, 10:41 AMTenneco (TEN): Q2 EPS of $1.14 beats by $0.17. Revenue of $1.92B (+1.7% Y/Y) misses by $0.11B. (PR)
Thursday, May 24, 2012, 8:54 AM
Demand for motor vehicles and parts rose 5.6%, according to this morning's release on durable goods. The reading marks the highest level for the category since last July. On watch: ALV, BWA, GNTX, JCI, TEN.
Comment![U.S. Economy, Consumer]
Monday, April 30, 2012, 8:08 AMTenneco Automotive (TEN): Q1 EPS of $0.66 misses by $0.07. Revenue of $1.91B (+8.6% Y/Y) beats by $20M. Shares -1.9% premarket. (PR)
Comment![Earnings, Consumer, On the Move]