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Class 8 orders came in below expectations at 24.4K, says Wells Fargo

Wells Fargo said April Class 8 truck orders came in at 24.4K units, which was below the firm's expectation of 25K-28K units. Wells believes the report may be viewed as a modest disappointment and a short-term negative for Cummins (CMI), Navistar (NAV) and PACCAR (PCAR).