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Stock Market & Financial Investment News

News Breaks
February 26, 2013
12:46 EDTAAP, AZOAutoZone falls after CEO says sales remain inconsistent
Auto parts retailer AutoZone (AZO) is retreating after the company's CEO, Bill Rhodes, said during the company's earnings conference call this morning that its sales "have remained inconsistent and below our desires and expectations." The company's sales growth during the first two weeks of February, which are the last two weeks of its second quarter, were below normal historical levels, Rhodes added. Usually the company's sales during these two weeks increase significantly compared with prior weeks, the CEO explained. This year, however, its sales rose only modestly versus previous weeks, Rhodes said. Moreover, its U.S. same-store sales during this period tumbled 8% versus the same period in 2012, he reported. The weakness was caused by delays in the processing of tax refunds by the IRS, the CEO stated, adding that the company's outlook remains "cautious." AutoZone's domestic same-store sales dropped 1.8% during its entire second quarter. On a positive note, AutoZone's second quarter earnings per share of $4.78 and revenue of $1.9B were slightly ahead of analysts' consensus estimates. In early afternoon trading, AutoZone shares fell about $5, or 1.3%, to $373.56. Meanwhile, Advance Auto Parts (AAP), one of AutoZone's competitors, dropped 1.6% to $77.10.
News For AZO;AAP From The Last 14 Days
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November 19, 2014
06:37 EDTAZOAutoZone ordered to pay $186M in damages to former female employee, WSJ says
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November 17, 2014
08:10 EDTAAPAdvance Auto Parts price target raised to $170 from $150 at Morgan Stanley
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November 14, 2014
10:00 EDTAAP, AZOOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AbbVie (ABBV) initiated with a Buy at Deutsche Bank... Advance Auto Parts (AAP) initiated with a Buy at Sterne Agee... AutoZone (AZO) initiated with an Underperform at Sterne Agee... Carter's (CRI) initiated with a Buy at Sterne Agee... Children's Place (PLCE) initiated with a Neutral at Sterne Agee... Container Store (TCS) initiated with a Fair Value at CRT Capital... DHT Holdings (DHT) initiated with a Buy at UBS... Diana Shipping (DSX) initiated with a Neutral at UBS... Genuine Parts (GPC) initiated with a Neutral at Sterne Agee... National Oilwell (NOV) initiated with a Neutral at UBS... Navios Acquisition (NNA) initiated with a Buy at UBS... NeoStem (NBS) assumed with a Buy at Maxim... O'Reilly Automotive (ORLY) initiated with a Neutral at Sterne Agee... Scorpio Bulkers (SALT) initiated with a Neutral at UBS... Star Bulk Carriers (SBLK) initiated with a Neutral at UBS... Teekay Tankers (TNK) initiated with a Buy at UBS... The Buckle (BKE) initiated with an Underweight at BB&T... TriMas (TRS) initiated with an Overweight at JPMorgan... TriplePoint Venture (TPVG) initiated with a Buy at UBS... Tsakos Energy (TNP) initiated with a Buy at UBS... USD Partners (USDP) initiated with an Outperform at Credit Suisse... Zumiez (ZUMZ) initiated with a Buy at BB&T.
07:32 EDTAAPHayman Capital gives quarterly update on stakes
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November 13, 2014
16:38 EDTAAPAdvance Auto Parts initiated with a Buy at Sterne Agee
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16:38 EDTAZOAutoZone initiated with an Underperform at Sterne Agee
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