Wabash National Corp (WNC) News & EventsWNCWabash National Corp

Tech Stocks Rebound, Nasdaq Outperforms Other Indices

Sentiment in the Tech arena has continued to seesaw as investors bought yesterday's dip in Semiconductors and Semi equipment names, helping the tech-rich Nasdaq Composite outperform the other indices.  Tech was also the best performing sector in the S&P 500, even though the IT Services and Infrastructure Software areas were dinged by a disappointing pre-announcement from IBM, with commentary reflecting IT budget investment surge "toward servers, storage, and memory purchases to secure supply-constrained infrastructure ahead of expected price increases."  Indeed, Memory, Cybersecurity, and Cloud Storage were among the best performing themes on Tuesday following this IBM rationale regarding its underwhelming quarter.Early earnings season updates from large financials also contributed to the bullish mood, with Goldman Sachsup 9% and JPMorgan up 3% after the results.  Further helping matters was a benign CPI report, countering the renewed inflationary pressure narrative that dominated the headlines overnight as a result of Strait of Hormuz escalation.  Treasury yields fell across the curve while fed funds futures repriced the near-coin-flip probability of a Fed rate hike at the end of this month to favor a tightening in October.In the opening hour of the evening session, S&P E-minis and Nasdaq 100 contracts are flat.  In commodities, WTI Crude Oil remains bid just shy of $80 per barrel, with Fox News interview comments from President Trump doubling down on the resolve of the administration to strike Iran until a deal on Hormuz passage and Iranian nuclear program  can be reached.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Aehr Test Systemsup 27.7%ALSO HIGHER -Lionsgate Studiosup 8.5% after Reuters reports company received takeover interest from Bollore GroupDOWN AFTER EARNINGS -Phoenix Education Partnersdown 10.3%ALSO LOWER -Pentairdown 13.3% after negative Q2 pre-announcementWabash Nationaldown 12.9% after convertible debt offering

Wabash Commences $100M Private Offering of Convertible Notes

Wabash announced that it has commenced a private offering of $100M aggregate principal amount of convertible senior unsecured notes due 2032 to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. Wabash intends to use the net proceeds from the offering for general corporate purposes, including repaying amounts outstanding under its existing credit agreement.