O'Reilly Automotive shares are trading lower in sympathy with Advance Auto Parts after the company reported worse-than-expected Q1 financial results and cut FY23 EPS and revenue guidance below estimates.
Portfolio Pulse from Benzinga Newsdesk
O'Reilly Automotive shares are trading lower due to disappointing Q1 financial results and reduced FY23 EPS and revenue guidance from Advance Auto Parts.
May 31, 2023 | 4:07 pm
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NEGATIVE IMPACT
O'Reilly Automotive's stock price is negatively impacted by Advance Auto Parts' poor Q1 results and lowered FY23 guidance.
O'Reilly Automotive 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, O'Reilly's stock price is likely to be negatively affected by this news in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80