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Stock Market & Financial Investment News

News Breaks
May 15, 2014
10:36 EDTAAPAdvance Auto Parts says three-year cost synergy target is $160M
Says pleased with start to FY14. Says saw steady customer demand due to the extreme winter weather in Q1. Says experienced some volatility early in the quarter from weather related store closures. Says customers likely benefited from timely tax refunds and stable gas prices vs. a year ago to pay for unexpected repairs. Says will continue to invest in areas that drive sales growth and profit outcomes. In terms of the acquisition of General Parts, the company says that it is still in the early days of multi-year integration process but off to the start that the company expected. Expects to realize $45M-$55M cost synergies this FY. Says growth and profitability is on track. Expects BWP store conversions to be complete by the end of the fiscal year. Says will continue to work towards goal of opening 120-140 new stores this fiscal year. Expects inventory growth to flatten as the company progresses throughout the year. Expects to maintain an effective tax rate of 38% for the balance of the fiscal year. Says on pace to deliver first year cost synergies and sees majority of synergies occurring in 2H14. Comments made during the company's Q1 earnings conference call.
News For AAP From The Last 14 Days
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August 19, 2014
17:01 EDTAAPAdvance Auto Parts elects Ernst & Young COO John Ferraro to board
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August 18, 2014
14:12 EDTAAPAdvance Auto Parts upgraded to Outperform from Peer Perform at Wolfe Research
August 15, 2014
06:50 EDTAAPAdvance Auto Parts price target raised to $155 on Q2 beat at RBC Capital
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August 14, 2014
12:30 EDTAAPOn The Fly: Midday Wrap
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10:31 EDTAAPAdvance Auto Parts sees FY SSS up in the low single digits
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08:32 EDTAAPAdvance Auto Parts reports Q2 SSS up 2.6%
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08:32 EDTAAPAdvance Auto Parts raises FY comparable cash EPS view to $7.50-$7.60
Consensus is $7.58. Says "confident" in achieving FY synergy estimates.
08:31 EDTAAPAdvance Auto Parts reports Q2 EPS $2.08, consensus $2.01
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August 13, 2014
15:05 EDTAAPNotable companies reporting before tomorrow's open
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August 12, 2014
08:03 EDTAAPGoldman's Retail selections for Q2
Goldman is most above Q2 consensus for Advance Auto Parts (AAP), Best Buy (BBY) and Williams-Sonoma (WSM), sees best risk/reward in Ulta Salon (ULTA) and Sportsman's Warehouse (SPWH), and low visibility in Dick's Sporting (DKS) and Wal-Mart (WMT).

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