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Wells Fargo says August Class 8 truck orders up 20%

Wells Fargo notes that ACT Research reported preliminary August Class 5-8 truck net orders increased 15% from July and increased 24% year-over-year. Class 8 truck orders were 19,500 units, up 20% year-over-year and 11% from July, Wells added. The firm says the August numbers were consistent with expectations for Class 8 and a positive surprise for Class 6-7. Wells views the data as neutral for Navistar (NAV) and PACCAR (PCAR) and a modest positive for Cummins (CMI).