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Stock Market & Financial Investment News

News Breaks
May 27, 2014
11:40 EDTAZO, PBY, AAP, ORLY, PRTSAutoZone 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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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
08:47 EDTORLYO'Reilly Automotive volatility low into a company sponsored analyst day
O'Reilly Automotive September call option implied volatility is at 17, November is at 19, January is at 17; compared to its 26-week average of 21 according to Track Data, suggesting decreasing price movement into a company sponsored analyst day.
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
16:32 EDTORLYO'Reilly Automotive authorizes additional $500M share repurchase
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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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