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Benzinga
Benzinga
Business
Nabaparna Bhattacharya

Why Is PACCAR Stock Gaining Today?

Paccar PCAR Nasdaq
PACCAR-Photo by RYO Alexandre via Shutterstock

PACCAR Inc. (NASDAQ:PCAR) shares are trading higher on Tuesday after the company reaffirmed its long-term investment strategy in the third quarter, emphasizing technology-driven efficiencies and steady capital spending despite softer truck sales.

The company reported third-quarter earnings per share of $1.12, missing the analyst consensus estimate of $1.17. Quarterly sales of $6.107 billion missed the Street view of $6.371 billion.

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