Advance Auto Parts shares up 8% after earnings
Shares of Advance Auto Parts Inc. rose more than 8% late Monday after the retailer reported third-quarter sales in line with expectations and higher-than-expected per-share gains. The company reported operating income of $194 million, or $1.53 a share, in the quarter, compared with $206 million, or $1.63 a share, a year ago. Adjusted for one-time items, Advance Auto Parts said it earned $1.73 a share, down from $1.95 a share a year ago. Sales reached $2.25 billion in the quarter, from $2.30 billion a year ago. Analysts polled by FactSet had expected Advance Auto Parts to earn an adjusted $1.71 a share on sales of $2.2 billion. Shares had ended the regular trading day down 1.5%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.