Tenneco Soars On Analyst, Management Confidence

Tenneco posted a first-quarter loss of $49 million, or $1.05 per share, compared with a profit of $6 million, or 13 cents per share, in first quarter of 2008.

Tenneco said the NYSE notified the company that it is now in compliance with the exchange's listing requirement. In March, Tenneco's average market capitalization fell below $75 million over a 30-day trading period. The NYSE lowered the minimum requirement to $50 million, allowing the company to be re-evaluated. As of June 5, the company maintained an average market cap of $248 million over the past 30-days.