Stock Market Update - (NYSE:TEN) Plunges on Stock Offering Plan

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Tenneco Inc. (NYSE:TEN) fell 2% to $15.60 after it announced its intention to offer 10,000,000 shares of its common stock pursuant to an underwritten registered public offering. In connection with the offering, Tenneco intends to grant the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of its common stock to cover over-allotments, if any.

Tenneco Inc. (Tenneco) designs, manufactures and sells automotive emission control and ride control systems and products. The Company serves both original equipment manufacturers (OEMs) and replacement markets worldwide through brands, including Monroe, Rancho, Clevite Elastomers, and Fric Rottm ride control products and Walker, Fonostm, and Gillettm emission control products.

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