AutoZone shares are trading lower in sympathy with Advance Auto Parts, which reported worse-than-expected Q1 financial results and cut FY23 EPS and revenue guidance below estimates.
Portfolio Pulse from Bill Haddad
AutoZone shares are trading lower due to worse-than-expected Q1 financial results and reduced FY23 EPS and revenue guidance reported by Advance Auto Parts.
May 31, 2023 | 2:02 pm
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NEGATIVE IMPACT
AutoZone's stock price is negatively impacted by Advance Auto Parts' poor Q1 results and lowered FY23 guidance.
AutoZone shares are trading lower as a direct result of Advance Auto Parts' worse-than-expected Q1 financial results and reduced FY23 EPS and revenue guidance. As a competitor in the same industry, AutoZone's stock price is likely to be negatively affected by this news in the short term.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 75