Why Tenneco Stock Plummeted 36% in March

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Shares of Tenneco (NYSE: TEN) lost more than a third of their value in March (down 36%) according to data provided by S&P Global Market Intelligence. Most of the loss came after the company's March 14 earnings release. In fact, the stock was down just mid single digits early in the month, so investors wiped out roughly 30% of the stock's value following the earnings news.

Tenneco tried to put its best foot forward, highlighting the positives in the fourth quarter and for the full year 2018. However, the company missed earnings estimates by $0.11 a share in the fourth quarter. That's a big miss. Adding to the trepidation, the auto parts company also noted that it had found an accounting discrepancy that it said would have no impact on results. But any news of that sort tends to spook investors, especially when it comes from a company that's in the middle of integrating a large acquisition (Tenneco bought Federal-Mogul for $5.4 billion in the second half of 2018).

Image source: Getty Images.

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