UPDATE: Tenneco Posts Drop In Q2 Profit

Tenneco TEN reported a drop in its second-quarter profit. Tenneco's quarterly profit fell to $63 million, or $1.02 per share, from $87 million, or $1.42 per share, in the year-ago period. Its adjusted net income declined to $68 million, or $1.10 per share, from $70 million, or $1.14 per share. Its revenue rose 8% to $2.07 billion from $1.92 billion. However, analysts were estimating earnings of $1.10 per share on revenue of $2.07 billion. Tenneco shares closed at $48.74 on Friday.