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Stock Market & Financial Investment News

News Breaks
May 27, 2014
11:40 EDTAAP, PRTS, PBY, ORLY, AZOAutoZone stalls after Q3 results in-line with expectations
Shares of automotive replacement part and accessory retailer AutoZone (AZO) are slipping after the company reported third quarter earnings per share and revenue which were mainly in-line with analysts' consensus. WHAT'S NEW: AutoZone reported third quarter earnings per share of $8.46, which narrowly beat analysts' expectation by one cent. The company reported third quarter revenues of $2.34B, which mirrored what analysts were anticipating. The retailer also noted that its same-store-sales for the quarter rose 4%. WHAT'S NOTABLE: During the company's third quarter earnings conference call, Autozone said it was "well positioned" to grow overall company sales in the fourth quarter. It is planning to open a "modest" number of new company hubs in the upcoming quarters. AutoZone said that it has some concerns about its consumers due to the economy and gas costs in the fourth quarter, but still says it remains committed to its long-term growth strategy, noting that it is planning to grow new store square footage at a low-single digit rate. The retailer explained that its profit growth is in-line with expectations in its Mexico stores and also expects to open five more locations in Brazil next year. AutoZone continues to believe that there is opportunity for gross margin expansion and feels confident in its position to manage cost structure in response to the upcoming sales environment. ANALYST OPINION: On Thursday, May 22, Cleveland Research said it felt that Autozone's third quarter comparable sales trends were tracking ahead of consensus, driven by Do-It-Yourself momentum and its commercial business. As a result of this projection, the firm increased its third quarter earnings per share estimate to $8.50 and its FY14 earnings per share estimate to $31.58, which were both close to other analyst's expectations. OTHERS TO WATCH: Other publicly traded companies in this space include Pep Boys (PBY), Advanced Auto Parts (AAP), O'Reily Automotive (ORLY) and U.S. Auto Parts (PRTS). PRICE ACTION: During morning trading, shares of AutoZone fell $8.67 or $1.6%, to $532.14. Over the last year, the stock is up about 28%.
News For AZO;PBY;AAP;ORLY;PRTS From The Last 14 Days
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May 28, 2015
07:29 EDTAZOCitigroup to hold a conference
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May 27, 2015
10:01 EDTAZOOn The Fly: Analyst Downgrade Summary
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06:41 EDTAZOAutoZone downgraded on price at Gabelli
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06:13 EDTAZOAutoZone downgraded to Hold from Buy at Gabelli
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May 26, 2015
09:23 EDTAZOOn The Fly: Pre-market Movers
UP AFTER EARNINGS: AutoZone (AZO), up marginally after reporting third quarter results. ALSO HIGHER: Geeknet (GKNT), up 119.7% after being acquired by Hot Topic for $17.50 per share... IntelliPharmaCeutics (IPCI), up 16.8% after being granted fast track designation for Rexista Oxycodone by FDA... McDermott (MDR), up 9.2% after favorable mention in Barron's and after being awarded a project for 12 jackets offshore Saudi Arabia... Time Warner Cable (TWC), up 5.2% following announcement of merger with Charter (CHTR)... Charter is up fractionally. DOWN AFTER EARNINGS: Sky-mobi (MOBI), down 7.9%. ALSO LOWER: Etsy (ETSY), down 5.7% following a Wall Street Journal report that Amazon.com (AMZN) is targeting Etsy with an artisan goods marketplace... First Solar (FSLR), down 4.1% after being downgraded to Underperform from Sector Perform at RBC Capital... AstraZeneca (AZN), down 1.9% after Amgen (AMGN) ends participation in co-development and commercialization of brodalumab... Amgen is down 1.5%.
07:05 EDTAZOAutoZone reports Q3 EPS $9.57, consensus $9.52
Reports Q3 revenue $2.49B, consensus $2.5B. Reports Q3 SSS up 2.3%.
May 22, 2015
17:20 EDTPBYGlenhill Advisors reports 7.0% stake in Pep Boys
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May 21, 2015
08:36 EDTAAPAdvance Auto Parts lowers FY15 cash EPS view to $8.10-$8.30, consensus $8.51
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08:34 EDTAAPAdvance Auto Parts reports Q1 cash EPS $2.39, consensus $2.48
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May 20, 2015
15:00 EDTAAPNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Dollar Tree (DLTR), consensus 75c... Best Buy (BBY), consensus 29c... Advance Auto Parts (AAP), consensus $2.48... Patterson Companies (PDCO), consensus 65c... Donaldson Company (DCI), consensus 35c... Booz Allen Hamilton Holding (BAH), consensus 33c... The Buckle (BKE), consensus 78c... Monro Muffler Brake (MNRO), consensus 39c... Brady Corp. (BRC), consensus 37c... Trina Solar (TSL), consensus 9c... Quality Systems (QSII), consensus 15c... Kirkland's (KIRK), consensus 11c... Bon-Ton Stores (BONT), consensus ($1.56).
12:33 EDTPBYOn The Fly: Top stock stories at midday
Stocks began the session relatively unchanged from yesterday’s close and continue to trade in a holding pattern as investors await the release of the minutes from the Federal Reserve's last FOMC meeting. ECONOMIC EVENTS: In the U.S., EIA inventory data showed a 2.67M barrel fall in crude stocks, versus expectations for a 1.75M barrel decrease. The Federal Reserve is scheduled to release the minutes from its last rate setting meeting at 2 pm EDT. In Asia, Japan's GDP accelerated to a 2.4% growth pace in the first quarter, which was much better than expected. Japanese stock markets rallied on the news, sending the Nikkei 225 average to its best level in 15 years. COMPANY NEWS: Five of the world's largest banks - Citi (C), JPMorgan Chase (JPM), Barclays (BCS), The Royal Bank of Scotland (RBS) and UBS (UBS) - agreed to pay more than $5B and plead guilty to felony charges related to manipulating foreign currencies and interest rates. In conjunction with previously announced settlements with regulatory agencies in the United States and abroad, today’s resolutions bring the total fines and penalties paid by these five banks for their conduct in the foreign exchange spot market to nearly $9B, the Department of Justice stated... Target (TGT) shares advanced 1% after the retailer's first quarter earnings topped expectations and it raised the low-end of its fiscal year profit forecast. Brian Cornell, chairman and CEO of Target, said the company was pleased with its first quarter traffic and sales, particularly in its signature categories, which drove better-than-expected profitability through improved gross margin and continued expense management. MAJOR MOVERS: Among the notable gainers was Sarepta Therapeutics (SRPT), which rallied 53% after the company announced that, following meetings with the FDA, it would submit its eteplirsen drug to the FDA for approval on a rolling basis, with various components of the application being submitted separately. Eteplirsen is a treatment for Duchenne muscular dystrophy, or DMD. Also higher was Pep Boys (PBY), which gained 14% after The Wall Street Journal said private equity firm Golden Gate Capital and other potential suitors have expressed interest recently in buying the company. Among the noteworthy losers was Etsy (ETSY), which operates an online marketplace to buy and sell handmade items and vintage goods. The stock, which priced its IPO at $16 and opened for trading at $31 per share, dropped 22% to trade near $16.50 after the company issued its first financial report since coming public in April. Also lower were shares of several airline stocks, led by Southwest (LUV), which was down 8% near noon. In a regulatory filing last night, Southwest indicated it expects FY15 capacity growth to increase 7%-8% and to grow another 6%-7% in FY16. Buckingham downgraded Southwest to Neutral from Buy this morning, stating it has a more cautious revenue outlook for the company due to a worsening backdrop as competitors vow to compete aggressively. INDEXES: Near midday, the Dow was down 6.10, or 0.03%, to 18,306.29, the Nasdaq was up 1.65, or 0.03%, to 5,071.69, and the S&P 500 was down 0.49, or 0.02%, to 2,127.34.
09:25 EDTPBYOn The Fly: Pre-market Movers
UP AFTER EARNINGS: American Eagle Outfitters (AEO), up 8.6%... Computer Sciences (CSC), up 4.1%. ALSO HIGHER: Sarepta Therapeutics (SRPT), up 44.5% after announcing plans for rolling eteplirsen NDA... Genocea Biosciences (GNCA), up 22.5% after GEN-003 Phase 2 trial met primary endpoint... IsoRay (ISR), up 31.7% after Cesium-131 reports 96% success in local control and 100% survival in 5 years... AVEO Pharmaceuticals (AVEO), up 15.7% after presenting results of extension study 902 and gets FDA feedback for tivozanib... Pep Boys (PBY), up 12.5% following reports that potential buyer have approached the company about a possible takeover. DOWN AFTER EARNINGS: Etsy (ETSY), down 19.5%... China Distance Education (DL), down 7.7%... Keysight Technologies (KEYS), down 5.7%.... Lowe's (LOW), down 5.2%. ALSO LOWER: Lpath (LPTN), down 75.6% after announcing that it will undergo corporate restructuring... Achillion Pharmaceuticals (ACHN), down 10.1% following collaboration for HCV with Janssen... El Pollo LoCo (LOCO), down 3.5% after 6M share Block Trade priced at $22.25... Cimarex Energy (XEC), down 3.3% after 6M share Spot Secondary priced at $109.00.
08:03 EDTPBYPep Boys June volatility elevated into reports suitors approached
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06:04 EDTAZO, PBYPotential buyers approach Pep Boys about possible takeover, WSJ reports
Pep Boys has been approached about a takeover, according to sources cited by The Wall Street Journal. The sources say Golden Gate Capital and other potential suitors have expressed interest recently in buying the company. The auto-parts and services retailer is not currently in negotiations with any of the firms and is not working with an investment bank, one source notes. Reference Link
May 19, 2015
07:56 EDTAAPAdvance Auto Parts June volatility elevated into Q1 and outlook
Advance Auto Parts June call option implied volatility is at 28, September is at 24; compared to its 90-day average of 24, suggesting large near term price movement into the expected release of Q1 results on May 21.
06:40 EDTPBYGabelli adds another nominee to join board of Pep Boys
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May 15, 2015
17:33 EDTAAPPoint72 Asset Management gives quarterly update on stakes
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