-=Tenneco (TEN) to be acquired by Apollo (APO) funds for $7.1 billion

•  Tenneco shares were skyrocketing Wednesday after the automotive parts manufacturer said it would be acquired and taken private by Apollo Funds for $7.1 billion, including debt. The deal comes just one day after another parts maker, Meritor, was bought.

Tenneco agrees to be acquired by Apollo (APO) funds for purchase price of $20.00/share in cash 

• Tenneco has entered into a definitive agreement to be acquired by funds managed by affiliates of Apollo in an all-cash transaction with an enterprise valuation of approx. $7.1 bln, including debt.
• The purchase price of $20.00/share represents a 100.4% premium over the company's closing share price of $9.98 on February 22 and a 71.6% premium over the company's unaffected 90-day VWAP.
• Upon completion of the transaction, Tenneco's shares will no longer trade on the NYSE, and Tenneco will become a private company. Tenneco will continue to operate under the Tenneco name and brand and maintain a global presence.
• The transaction, which has been unanimously approved by the Tenneco Board of Directors, is expected to close in the second half of 2022.

=Tenneco (TEN) reported earnings on Tue 6 Aug 2019 (b/o)

Tenneco beats by $0.27, reports revs in-line; guides Q3 revs below consensus; slightly lowers FY19 revs in-line

Reports Q2 (Jun) earnings of $1.20 per share, $0.27 better thanthe S&P Capital IQ Consensus of $0.93; revenues rose 76.7% year/year to $4.48 bln vs the $4.47 bln S&P Capital IQ Consensus.

Co issues downside guidancefor Q3, sees Q3 revs of $4.3-4.4 bln vs. $4.45 bln S&P Capital IQ Consensus.

• Further, the company expects its third quarter adjusted EBITDA to be in the range of $390 mln to $410 mln, including year-over-year pro forma margin improvement of approximately 100 basis points in both the DRiV and New Tenneco divisions.

Co issues in-line guidancefor FY19, sees FY19 revs of $17.6-17.8 bln vs. $17.8 bln S&P Capital IQ Consensus, but down from prior guidance of $17.7-18.1 bln.

• Co sees FY19 Adjusted EBITDA of $1,515-1,565 mln vs prior guidance of $1,500-1,620 mln

Earnings this week : Aug 5 - 9, 19 (wk 32)

Monday (Aug 5)

• Morning: ATRO CARS CYOU KMPR L TA TSN 
• Afternoon: APLE CAR BKD CBT CZR CBPO COHU CXW  EVER  PLOW DCO FRPT HIIQ PODD ITRI KLAC RAMP MAR O SHAK SWAV SNCR TTWO THC WWD

Tuesday (Aug 6)

• Morning:  AFI BHC BDX APRN CAR  CRCM CHK CHH DF DISCA DUK ERI ENR HSIC JLL LGIH MNK MGP MOS  EYE PAYS PLUG SEAS SSTK TEN  FLOW VRTV VG WBT WLK ZTS
• Afternoon: ACLS ADT AFG AINV AIZ AKCA AMN ANDE APEI ARLO AVD AXGN BECN BNFT BOLD BTG CARG CGBD CMP CPE CPSI CTRE CUB DCP DHT DIS DVN DXPE EDIT ENLC ENTA EVH EVRI FANG FATE FLT FTR GBT GCP GH GTES  GWPH HALO HCKT HCR HST HTZ HUBS ICHR INSG INSP IOSP JAZZ KAR KRNT LC LOPE LRN LTHM MAXR MBI MCHP MMI MODN MTCH NDLS NEWR NP NUS NVTA OAS OHI OSUR PAA PAGP PBPB PE PEN PLNT PLT PLYA POWL PTCT PXD PZZA QUOT RRR RTRX SAIL SCOR SEDG SSTI STAY SUPN SWN SWX TGH TROX TWO TXMD VOYA VREX WK WMC WTR WTTR WW WYNN Y ZAGG ZGNX

Wednesday (Aug 7)

• Morning: AMAG ANIP ATHM ATKR AVA BCOR BV CNP CNR CORE CPRI CSTE CVS CYBR DNR DOC ETM EVOP FUN GOLF GTN HL HZNP ICPT INGN INXN IONS JELD KELY.A LAMR LL LXP MDCA MFA MIDD NRG NVMI NXST NYT ODP OMI QEP SBGI SGRY SINA SND SPB SRC SSW STWD TELL TEVA VER VGR WAAS WB WD WEN WWW
• Afternoon: AAOI, AGO, AGS, AIG, ALB, AMPH, ANGI, AOSL, APYX, ARNA, ASRT, ATO, AVLR, AZPN, BKNG, BREW, CABO, CAI, CCMP, CDE, CECO, CLI, COLL, CPA, CPRX, CSGS, CTL, CVNA, CWH, DAR, DDD, DOX, DVAX, EB, ECPG, ENS, ENV, ET, EVRG, FG, FLO, FNV, FOSL, FOXA, FRGI, FSCT, FSM, FTDR, FTK, G, GBDC, GDOT, GKOS, GLPI, GTE, HHC, IAC, IAG, ICUI, IIPR, IMMU, INFN, IVR, JACK, KIDS, KRO, LHCG, LYFT, MATX, MELI, MFC, MNST, MRAM, MRO, NTES, NTRA, NUAN, NVEE, OPK, ORA, PAAS, PDCE, PEGA, PETQ, PRA, PRI, PRSC, PTLA, QHC, QRTEA, QTWO, RCII, RDUS, REZI, RGLD, RGNX, RLJ, ROKU, RUN, RYAM, RYN, SENS, SFLY, SGMO, SJI, SONO, SRPT, STMP, SUN, SWCH, SWKS, SWM, TCX, TLND, TPIC, TRIP, TTGT, TVTY, TWNK, UHAL, UPLD, UPWK, VERI, WMGI, ZG, ZVO 

Thursday (Aug 8)

• Morning: ACIW, AMC, AMRC, AZUL, BAM, BPMP, CAH, CBB, CCOI, CDLX, CEVA, CNNE, COMM, COT, CRON, CSWI, CVIA, DESP, EBIX, ECOM, EGRX, EPAM, ESPR, FOCS, FOLD, FVRR, GOGO, GTS, GTT, HIMX, HMHC, IBP, KDP, KHC, KOP, KTB, LAUR, LITE, LKSD, LNG, MGA, MMS, MPAA, MUR, NBEV, NCLH, NGL, NHI, NICE, NOMD, NS, OGE, PCRX, PNW, PQG, PRGO, PRTY, PTE, RDNT, REV, RLGY, SATS, SNH, SUP, TAST, THR, TTI, TW, USPH, VIAB, VIRT, VSTO
• Afternoon: AAXN AIMT AIRG AL ALRM ALTR AMBC APPN AQN ASYS ATVI AVT AXA C CBS CHUY CISN CNDT COLD CUTR CYRX DBX DXC ELY EPAY EQH ESE FGEN FLNT FNKO FSLY FTCH HBM IIIV JAG MAIN MDP MDRX MESA MTW NKTR NNBR NNI NVGS NVRO NWSA OMER OSTK PBYI PCTY PRA PRAA PUMP QDEL QNST RBA ROAD RVLV SEMG SIEN SPPI SSR SSRM SYMC SYNA TERP TPC TRHC TRUE TSE TTD UBER UNIT VRAY VRTU VSAT VSLR WAIR WPM WPRT WTRH XON YELP

Friday (Aug 9) 
Morning: 

• CBM CLNY DPLO ERF HPT SSP TRCO USCR YRCW

Mon Aug 5 a/h

Thur  Aug 8 a/h

-=Tenneco (TEN) reported earnings on Fri 27 Oct 2017 (b/o)

Tenneco beats by $0.09, beats on revs; guides Q4 revs above consensus 

• Reports Q3 (Sep) earnings of $1.67 per share, excluding non-recurring items, $0.09 better than the Capital IQ Consensus of $1.58; revenues rose 8.5% year/year to $2.27 bln vs the $2.24 bln Capital IQ Consensus.
• Co issues upside guidancefor Q4, sees Q4 revenue growth of +7% YoY which we compute as approx $2.31 bln vs. $2.26 bln Capital IQ Consensus Estimate.
• "We delivered record third quarter revenue, driven by light vehicle top-line growth that continues to outpace industry production and double-digit increases in commercial truck and off-highway revenue."