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Omar Venerio
Omar Venerio
Articles (911) 

Wall Street Down Tuesday Morning

Advance Auto jumps on earnings beat

November 14, 2017 | About:

Wall Street was down in Tuesday trading, continuing yesterday's losses.

Shares of Advance Auto Parts Inc. (NYSE:AAPjumped more than 13% in premarket trading after reporting financial results for the third quarter. The company posted EPS of $1.43, beating estimates of $1.20. Revenue of $2.18 billion fell short of expectations and decreased 3.7% year over year.

“We continue to take steps to build the foundation for future growth. We executed key transformational initiatives, including a complete restructure of our field operations and professional sales leadership teams. This important step in our journey sets us up well for the future. In the third quarter, we delivered improvements in cost initiatives while positioning the business for future success. We remain on track to deliver our 2017 guidance,” Tom Greco, president and CEO, said. 

Gainers

Losers

Global markets

The main European stock markets traded lower. The U.K.'s FTSE 100 fell 0.01%, Germany's DAX declined 0.31%, France's CAC 40 tumbled 0.49% and Spain's IBEX 35 slid 0.59%.

In Asia, Japan's Nikkei 225 was flat while India’s BSE Sensex declined 0.28%, China's SSE Composite fell 0.53% and Hong Kong's Hang Seng retreated 0.10%.

Disclosure: The author holds no positions in any stocks mentioned.

About the author:

Omar Venerio
Omar Venerio is capital markets, derivatives, corporate finance and financial management professor. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

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