Why Advance Auto Parts Crashed Today
Advance Auto Parts (NYSE: AAP) stock plummeted nearly 16% in early trading Thursday before clawing back some losses in the afternoon. As of 12:15 p.m. ET, Advance Auto Parts stock remains down -- but only 9.5%.
And why is it down? That's an excellent question. Reporting second-quarter earnings this morning, Advance Auto Parts beat forecasts for a $0.58-per-share adjusted profit on less than $2 billion in revenue. In fact, Advance earned $0.69, and sales were precisely $2 billion.
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Source Fool.com
