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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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October 22, 2014
18:34 EDTORLYOn The Fly: After Hours Movers
UP AFTER EARNINGS: Select Comfort (SCSS), up 13.1% after reporting third quarter results and increasing share repurchase authorization to $250M... Infinera (INFN), up 9.8%... Tractor Supply (TSCO), up 11.8%... Acacia Research (ACTG), up 7.7%... Marketo (MKTO), up 4.5%... O'Reilly Automotive (ORLY), up 3.9%... Fortinet (FTNT), up 1.5%... Mellanox (MLNX), up 2.9%... ServiceNow (NOW), up just under 1%. ALSO HIGHER: CarMax (KMX), up 1% after announcing a $2B increase to its share repurchase program. DOWN AFTER EARNINGS: Air Methods (AIRM), down 19.8% following preliminary third quarter results... Yelp (YELP), down 13.6%... Core Laboratories (CLB), down 7.9%... Varian Medical (VAR), down 4.9% after reporting fourth quarter results... Open Text (OTEX), down 3.9%... Citrix (CTXS), down 5.7%... Cheesecake Factory (CAKE), down 4.5%... Allied World (AWH), down 4.7%... Lam Research (LRCX), down 3.3%... Skechers (SKX), down just under 1% after reporting third quarter results above analyst estimates... AT&T (T), down 1.5%. ALSO LOWER: DIRECTV (DTV), down just under 1% following AT&T third quarter results... Alcobra (ADHD), down 16% following results of MDX study... WidePoint (WYY), down 8.1% after filing an automatic common stock shelf... New Mountain Finance (NMFC), down 4.4% after filing to sell 5M shares of common stock.
16:36 EDTORLYO'Reilly Automotive sees FY14 EPS $7.19-$7.23, consensus $7.15
The company sees FY14 revenue $7.1B-$7.2B, consensus $7.16B.
16:32 EDTORLYO'Reilly Automotive sees Q4 EPS $1.60-$1.64, consensus $1.67
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16:30 EDTORLYO'Reilly Automotive reports Q3 EPS $2.06, consensus $1.95
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15:30 EDTORLYNotable companies reporting after market close
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12:50 EDTORLYO'Reilly Automotive technical comments before earnings
In the past three months the stock has outperformed the broader averages and hit all-time highs. If the news is as positive as traders expect, the only resistance on the chart is the life high at $160.78. Potential additional upside objectives would be in the $165 to $170 range depending on the degree of positive surprise that exceeds currently high expectations. If the news disappoints. there is a key level to watch on the downside and that is the $150 area. A break below $150 would snap the long-term uptrend in place since the lows of 2009. Support below $150 would be at $146.16 and then at $141.93.
October 9, 2014
08:55 EDTPRTSU.S. Auto Parts coverage resumed with a Buy at Roth Capital
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05:07 EDTPRTSAutoMD announces strategic investments by Federal-Mogul, Cox Automotive
AutoMD, previously a wholly-owned subsidiary of U.S. Auto Parts Network, (PRTS), has announced that Federal-Mogul Motorparts, a division of Federal-Mogul Holdings (FDML), Cox Automotive, and existing U.S. Auto Parts investors have purchased a minority stake in AutoMD. In connection with their investment, Federal-Mogul will also provide strategic support in accelerating the growth of

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