Why Advance Auto Parts Stock Jumped Earlier Today
Investors in Advance Auto Parts (NYSE: AAP) must have heaved a sigh of relief this morning when the stock rallied soon after the market's opening. Unfortunately, their excitement lasted only so long, with the stock giving up those gains as the day progressed. Advance's stock was trading 1% lower as of noon E.T. on Wednesday, down considerably from the high of 6.2% earlier in the day.
The automotive parts retailer announced its quarterly numbers and has appointed a new CEO. While the market perhaps considers the latter as a positive move, it's taking a cautious stand given Advance Auto Parts' latest numbers and outlook.
Here are some important numbers from Advance Auto Parts' second-quarter earnings report (all changes are year over year):
Source Fool.com
