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Stock Market & Financial Investment News

News Breaks
May 27, 2014
11:40 EDTPRTS, PBY, ORLY, AZO, AAPAutoZone 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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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
10:02 EDTORLYOn The Fly: Analyst Downgrade Summary
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08:44 EDTORLYO'Reilly Automotive downgraded to Hold from Buy at Gabelli
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08:10 EDTAAPAdvance Auto Parts price target raised to $170 from $150 at Morgan Stanley
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November 14, 2014
10:00 EDTORLY, AZO, AAPOn 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
16:48 EDTPBYGabelli reports17.34% stake in Pep Boys
In light of the upcoming deadline to submit director nominations for consideration at the company's 2015 Annual Meeting of Shareholders, GAMCO, on behalf of its investment advisory clients, is considering interviewing potential candidates for nomination. If one or more of these individuals becomes a nominee for election as a director, GAMCO plans to cumulate its votes in favor of the election of such individual or individuals with the shares over which it has voting authority.
16:38 EDTORLYO'Reilly Automotive initiated with a Neutral at Sterne Agee
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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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November 12, 2014
09:37 EDTPBYGabelli raises stake in Pep Boys to 17.31% from 16.28%
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November 10, 2014
12:02 EDTORLYO'Reilly Automotive discloses subpoena addressing hazardous waste disposal
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