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☆ Analysts are bailing on this auto parts retailer after a massive earnings miss
▼ + stars: | 2023-06-01 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Advance Auto Parts ' massive earnings miss has drawn strong analyst concern. Both Goldman Sachs and JPMorgan downgraded Advance Auto Parts to neutral Thursday. Advance Auto Parts reported an adjusted 72 cents per share, far below analysts polled by Refinitiv's expectations of $2.57. AAP YTD mountain Advance Auto Parts stock is down more than 50% in 2023. Bank of America also downgraded Advance Auto Parts to neutral Thursday and slashed its price target to $85 from $178.

Persons: Goldman Sachs, Christopher Horvers, Horvers, Kate McShane, Elizabeth Suzuki, — CNBC's Michael Bloom Organizations: JPMorgan, AAP, Bank of America

The Labor Department reported that U.S. job openings unexpectedly rose in April, pointing to persistent strength in a labor market that suggests pressure on both wages and inflation. Futures traders raised to 70% the probability of a 25 basis points hike at the Fed's June 13-14 policy meeting. FEDWATCHFed Governor and vice chair nominee Philip Jefferson said skipping a rate hike in two weeks would provide policymakers time to see more data before making a decision. The Labor Department's closely watched May unemployment report, due on Friday, could decide whether a rate hike occurs. Intel was the biggest gainer on the S&P 500 as the chipmaker said it was on track to hit the upper end of its second-quarter revenue forecast.

Persons: Brendan McDermid, Joe Biden, it's, Brad Conger, Callaghan, Conger, FEDWATCH, Philip Jefferson, Patrick Harker, Tim Ghriskey, we've, Nvidia Corp's, Herbert Lash, Shreyashi Sanyal, Shashwat Chauhan, Shounak Dasgupta, Maju Samuel, Richard Chang Organizations: New York Stock Exchange, REUTERS, Senate, Co, Labor Department, Philadelphia Fed, Inverness, Labor, Dow Jones, Nasdaq, Technology, Federal Deposit Insurance Corporation, Parts Inc, Genuine, O'Reily, Hewlett Packard Enterprise Co, Nvidia, Intel, Thomson Locations: New York City, U.S, Conshohocken , Pennsylvania, New York, Bengaluru

[1/2] Fearless Girl is seen outside the New York Stock Exchange (NYSE) in New York City, U.S., May 30, 2023. The S&P 500 was set to end the month flat, while the Dow shed 3.8%. The S&P 500 financial sector index (.SPSY) fell 1.7%, while banks (.SPXBK) dropped 2.7%. Advance Auto Parts Inc (AAP.N) plunged 33.9%, falling the most on the S&P 500, after the auto parts retailer cut its full-year forecasts. Declining issues outnumbered advancers for a 2.21-to-1 ratio on the NYSE and for a 2.02-to-1 ratio on the Nasdaq.

Persons: Brendan McDermid, Joe Saluzzi, Phil Blancato, Nvidia Corp's, advancers, Shreyashi Sanyal, Shashwat Chauhan, Shounak Dasgupta, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal Reserve, Senate, Themis, Labor, Survey, Traders, Asset Management, Dow Jones, Technology, Federal Deposit Insurance Corporation, Advance, Parts Inc, Genuine, O'Reily, Hewlett Packard Enterprise Co, Nvidia, NYSE, Thomson Locations: New York City, U.S, New York, Bengaluru

☆ Advance Auto eyes record daily percentage drop after forecast cut
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: 1 min

NEW YORK, May 31 (Reuters) - Advance Auto Parts' stock (AAP.N) was on track for its biggest daily percentage drop since the company went public in 2001 and was leading a selloff in other auto parts retailers Wednesday after the company cut its full-year forecast. Advance Auto's shares were last down 33.7% at $74.44, and hit their lowest level since March 2020. Shares of Genuine Parts Co (GPC.N) were down 5.3%, while Autozone (AZO.N) was down 4.6% and O'Reilly Automotive (ORLY.O) slipped 3.4%. Advance Auto cited elevated raw material, labor and freight costs as it reported results and gave its guidance. Its forecast cut follows a recent disappointing outlook from Foot Locker (FL.N) and underscores weakness in some areas of retail this earnings season.

Persons: Caroline Valetkevitch Organizations: YORK, O'Reilly Automotive, Advance, Thomson

☆ Advance Auto Parts is the stock you need to avoid: Miller Tabak’s Matt Maley
▼ + stars: | 2023-05-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAdvance Auto Parts is the stock you need to avoid: Miller Tabak’s Matt MaleyMatt Maley, chief marketing strategist at Miller Tabak, joins ‘The Exchange’ to discuss Advance Auto Parts as the stock is on pace for its worst day ever as the company posted a huge earnings miss.

Persons: Miller, Matt Maley Matt Maley, Miller Tabak

☆ Morning Bid: China factory fright, dollar surges
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +4 min

The yuan , now down more than 3% from its early May peaks, skidded to its lowest level of the year against the dollar as investors considered the possibility of further credit easing by the Chinese central bank. The dollar index hit its highest level since mid-March, with the European inflation news and China demand picture knocking the euro to its lowest in two months too. German import prices fell at an annual rate of 7% in April and the ECB's financial stability report warned about a "disorderly" hit to house prices from higher mortgage rates. The House Rules Committee voted 7-6 on Tuesday to approve the rules allowing a debate and vote by the full chamber. Overall, stock markets slipped back slightly - with Hong Kong's Hang Seng index the big underperformer after the Chinese factory release.

Persons: Mike Dolan, Loretta Mester, Philip Jefferson, Susan Collins, Patrick Harker, Christine Lagarde, Jane Merriman Organizations: Federal Reserve, Cleveland Fed, Wednesday's Financial, European Central Bank, Dallas Fed, Boston, Philadelphia Fed, Consumer, Thomson, Reuters Locations: U.S, Europe, China, Italy, Chicago

☆ Advance Auto Parts shares plummet 30% after dismal results, cuts to outlook and dividend
▼ + stars: | 2023-05-31 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Shares of Advance Auto Parts plummeted roughly 30% during early trading Wednesday after the company's fiscal first-quarter earnings significantly missed Wall Street's expectations and executives slashed the retailer's yearly guidance and quarterly dividend. The Raleigh, North Carolina-based auto parts supplier blamed its dismal results and bleaker outlook on higher-than-expected costs for its professional sales, inflationary pressure, supply chain problems and an unfavorable product mix. Its quarterly revenue of $3.42 billion slightly missed expectations of $3.43 billion. Shares of other auto parts suppliers such as O'Reilly Automotive and AutoZone were also lower Wednesday. However, some Wall Street analysts believe Advanced Auto Parts' problems could be more operational than industrywide.

Persons: Refinitiv, Tom Greco, Oppenheimer, Brian Nagel Organizations: Advance, O'Reilly Automotive, O'Reilly Auto Locations: Raleigh, North Carolina

☆ Stocks making the biggest moves premarket: Advance Auto Parts, SoFi, Twilio and more
▼ + stars: | 2023-05-31 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

A vehicle pulls out of a parking space outside an Advance Auto Parts Inc. store in Peoria, Illinois. The company earned an adjusted 52 cents per share, beating a Refinitiv forecast of 48 cents per share. Advance Auto Parts — The car parts retailer plummeted more than 25% after a wide earnings miss. The company reported an adjusted 72 cents per share against a Refinitiv consensus forecast of $2.57 per share. American Airlines – Shares of the air carrier rose about 2% premarket after the company raised expectations for the second quarter.

Persons: Bud Light, Ambarella, —, Samantha Subin, Fred Imbert, Tanaya Macheel Organizations: Inc, Anheuser, Busch, Hewlett Packard Enterprise, Partners, StreetAccount, FactSet, American Airlines – Locations: Peoria , Illinois

☆ Advance Auto Parts cuts full-year profit guidance as costs weigh
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +1 min

Companies Advance Auto Parts Inc FollowMay 31 (Reuters) - Advance Auto Parts Inc (AAP.N) lowered its full-year profit outlook on Wednesday on the back of elevated costs, sending the auto parts retailer's shares down 24% before the opening bell. The Delaware-based supplier now expects to report net sales between $11.2 billion and $11.3 billion for 2023, down from its prior guidance of $11.4 billion to $11.6 billion. Despite pricing actions, the company added that supply headwinds and unfavorable product mix pulled down its first-quarter earnings. The company posted net income of $0.72 per share, down from $2.26 reported last year. The Delaware-based supplier reported net sales of $3.42 billion for the quarter ended April 23, up 1.3% from the prior year.

Persons: Tom Greco, Raechel Thankam, Maju Samuel Organizations: Parts Inc, Thomson Locations: Delaware, The Delaware, Bengaluru

☆ Stocks making the biggest moves midday: Intel, C3.ai, Advance Auto Parts, HP and more
▼ + stars: | 2023-05-31 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Ambarella — The chip stock fell 11.76%. Hewlett Packard Enterprise – Shares of the tech company slid 7.09% a day after the company posted a mixed quarterly report. HP – The stock fell 6.05%. Its adjusted earnings per share of 80 cents topped the 76 cents per share expected. Twilio – The tech stock rallied 11.09%.

Persons: David Zinsner, Ambarella, KeyBanc, Carvana, Twilio, KeyCorp, CNBC's Hakyung Kim, Jesse Pound, Brian Evans, Tanaya Macheel, Fred Imbert Organizations: Intel, Avis Budget, Deutsche Bank, Nvidia —, Nvidia, Hewlett Packard Enterprise, HP, Refinitiv, Micron Technology, Goldman Sachs Global Semiconductor Conference, Micron, Partners, Zions Bancorp, Citizens Financial Group, Truist Locations: China, –

☆ Advance Auto Parts is on pace for its worst day ever
▼ + stars: | 2023-05-31 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAdvance Auto Parts is on pace for its worst day everJenny Harrington, chief executive officer of Gilman Hill Asset Management, joins 'Halftime Report' to discuss Advance Auto Parts as the stock plummeted after the company's first-quarter earnings missed Wall Street's expectations.

Persons: Jenny Harrington Organizations: Asset Management

Looking ahead, investors this week will be laser-focused on Washington, as Congress prepares to vote on a bill to raise the U.S. debt ceiling . But the shortened trading week ahead still features some key earnings and economic data. ET: S & P/Case Shiller home price index (March) 10 a.m. ET: Employment report: Non-farm payrolls and jobless rate (May) Looking back Last week, three Club holdings reported earnings. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Next week promises any debt deal relief may prove short-lived with jobs report, Fed decision looming
▼ + stars: | 2023-05-26 | by ( Scott Schnipper | ) www.cnbc.com time to read: +5 min

"The overhangs on the market this year [are] the debt ceiling negotiation, hawkish Fed commentary and a banking crisis. It appears we are going to get a debt ceiling deal over the weekend, which should help the market to stabilize." The problem for many on the Street is the action in the S & P 500 Tech Index, up more than 5% this week; the Nasdaq Composite , ahead about 2.5%; and the S & P 500 , with a 0.3% gain, masks so much weakness beneath the surface. The S & P 500 consumer staples, materials, health care and utilities were all down between 2.4% and 3.2% this week, and the Dow Industrials were lower 1%. Although the S & P 500 is 9.5% higher so far in 2023, only a few stocks are doing well. "

☆ Israel aims to be 'AI superpower', advance autonomous warfare
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +2 min

"There are those who see AI as the next revolution in changing the face of warfare in the battlefield," Zamir told the Herzliya Conference, an annual international security forum. He named GPT (Generative Pre-trained Transformer) and AGI (Artificial General Intelligence) as deep-learning realms being addressed by civilian AI industries which could eventually have military applications. The ministry declined to provide figures on AI funding. This month, state-owned Israel Aerospace Industries unveiled an autonmous intelligence-gathering submarine which, it said, had already completed "thousands of hours" of operations. Similary, he said, "our mission is to turn the State of Israel into an AI superpower and to be at the head of a very limited number of world powers that are in this club".

☆ Here are Wednesday's biggest analyst calls: Tesla, Wynn, Walmart, Alphabet, Western Alliance & more
▼ + stars: | 2023-05-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Wednesday's biggest calls on Wall Street: Bernstein reiterates Tesla as underperform Bernstein said after the automaker's shareholder meeting that it sees trouble ahead. Bank of America upgrades AppLovin to buy from neutral Bank of America said it sees accelerating revenue growth for the mobile tech company. Stephens reiterates Walmart as overweight Stephens said it's standing by its overweight rating heading into Walmart earnings Thursday. Bank of America reiterates ServiceNow as buy Bank of America said the software company is well positioned for AI. " Stephens reiterates Western Alliance as overweight Stephens said it's standing by its overweight rating on the regional bank.

☆ Americans are keeping their cars longer amid sky-high prices, rising interest rates
▼ + stars: | 2023-05-15 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Cars, trucks, SUVs, and other vehicles drive in traffic on the 405 freeway through the Sepulveda Pass in Los Angeles, California, on August 25, 2022. DETROIT — The average age of passenger vehicles on U.S. roadways climbed to a record this year, as car owners hold on to their vehicles longer amid low supplies of new vehicles and sky-high prices. That includes a 3.8% increase for passenger cars to 13.6 years and a 1.7% uptick in trucks, SUVs and crossovers to 11.8 years. "The aftermarket and the repair market as a whole is definitely a winner as the average age continues to grow," said Todd Campau, associate director of aftermarket solutions for S&P Global Mobility. In total, S&P Global Mobility reports there are more than 284 million vehicles in operation on U.S. roads.

☆ Stocks making the biggest moves midday: Norwegian Cruise Line, Target, Advance Auto Parts and more
▼ + stars: | 2023-02-28 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Hims & Hers Health — Shares of the telehealth stock soared by 17% after the company reported quarterly results that surpassed estimates. However, Target's full-year earnings guidance came in below expectations. Zoom's full-year revenue guidance came in lighter than expected, but topped estimates on its earnings guidance for 2023. Norwegian Cruise Line Holdings — The cruise company fell 12% after reporting a wider-than-expected loss for the fourth quarter. Analysts surveyed by Refinitiv had forecast an 85 cents per share loss on revenue of $1.5 billion.

☆ Stocks making the biggest premarket moves: Dish, Target, Zoom, Arconic and more
▼ + stars: | 2023-02-28 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Check out the companies making the biggest moves in premarket trading:Dish Network — The satellite company's shares fell almost 5% amid its multi-day service outage and double-downgrade from Bank of America. Revenue also beat, but Target's full-year EPS guidance came in below expectations. Arconic — Shares fell 3.5% following a downgrade to sell from neutral by Goldman Sachs. Full-year revenue guidance came in lighter than expected, but its earnings guidance topped estimates. Workday — The human resources software fell 2.4% after its revenue guidance for the first quarter came in lighter than expected.

☆ Three-Stock Lunch: Dish Networks, Advance Auto Parts and Him & Hers Health
▼ + stars: | 2023-02-28 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree-Stock Lunch: Dish Networks, Advance Auto Parts and Him & Hers HealthDavid Wagner, portfolio manager at Aptus Capital Advisors, joins 'Power Lunch' to discuss three stocks moving on the back of Q4 earnings.

☆ Inflation takes a back seat to earnings next week as stocks look to bounce back
▼ + stars: | 2023-02-24 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +7 min

The latest Fed projection for the so-called terminal rate — the level where the rate hikes stop — was just over 5%. Before this past week, those intraday levels hadn't been seen since November 2022. ET: ISM Services Looking back January's hot reading on core PCE on Friday was the most influential economic number of the past week. In Club earnings this past week, Nvidia (NVDA) was certainly the highlight. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Cramer's lightning round: L3Harris Technologies is still a buy
▼ + stars: | 2023-01-27 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

Loading chart...Dutch Bros Inc : "You've got to wait [to buy], because we still see wage pressure." Loading chart...Farfetch Ltd : "I don't know FTCH. Loading chart...Bausch Health Companies Inc : "We've got that on what I would regard as being a retainer basis. We simply don't know what to do. Disclaimer: Cramer's Charitable Trust owns shares of Bausch Health Companies and Nvidia.

It’s the start of a class known as high-intensity interval training, a combination of treadmill and weight-lifting, at the boutique fitness studio Barry’s. The brothers and Rondeau, who now serves as Planet Fitness’ chief executive, hit upon a concept. Planet Fitness’ tag, “judgement free zone” is true to form. Part of the appeal is its $10 a month basic membership fee – which hasn’t changed – that Planet Fitness primarily collects through electronic funds transfers. Still, with solid and regular profits and a reasonable amount of debt, Planet Fitness has staying power, even if shareholders lose their shirts while its valuation comes in line.

☆ GE Healthcare Plans to Reduce Debt and Costs, Pursue Tuck-In Acquisitions
▼ + stars: | 2022-12-08 | by ( Nina Trentmann | ) www.wsj.com time to read: +5 min

As a stand-alone company, GE Healthcare will also look to improve its working capital and lower logistics costs, Mr. Zodl said. GE Healthcare will also take a look at its real estate holdings and target over 100 sites, executives said. Ratings firms S&P Global Ratings, Fitch Ratings and Moody’s Investors Service have all given GE Healthcare an investment-grade rating. PREVIEWApart from reducing debt and costs, GE Healthcare will scout for potential tuck-in acquisition targets, Chief Executive Peter Arduini said. GE retains a 19.9% stake in GE Healthcare.

☆ Three-Stock Lunch: Warner Bros. Discovery, Tesla and Advance Auto Parts
▼ + stars: | 2022-12-01 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree-Stock Lunch: Warner Bros. Discovery, Tesla and Advance Auto PartsScott Nations, Nations Indexes president and CEO, joins 'Power Lunch' to discuss Nations' investing take on three stocks: Warner Bros. Discovery, Tesla and Advance Auto Parts.

☆ Foot Locker Searches For a New Finance Chief
▼ + stars: | 2022-11-29 | by ( Kristin Broughton | ) www.wsj.com time to read: +3 min

Foot Locker Inc. is searching for a new finance chief to succeed Andrew Page, who is stepping down from the shoe-store chain as part of a reshuffling of its senior ranks. He was previously chief accounting officer and controller at Advance Auto Parts Inc., a Raleigh, N.C.-based auto parts retailer. He will step down as chief financial officer of Foot Locker early next year. Photo: The Wall Street Journal Foot Locker is working with an executive recruiting firm to identify a successor, the company said. Also, Foot Locker promoted Rosalind Reeves, its vice president of talent, diversity and organization capability, to chief human resources officer, effective Dec. 1.

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