Auto parts retailer stocks tumble in wake of AutoZone's disappointing results
Shares of car-parts retailers are tumbling in premarket trade Tuesday, after AutoZone Inc. reported fiscal third-quarter results that were "significantly" below expectations. Shares of Advance Auto Parts Inc. , which reports first-quarter results on Wednesday, sank 6.0% to put them on track to open at a 6 1/2-month low. O'Reilly Automotive Inc.'s stock dropped 5% toward a 15-month low ahead of the open, while Genuine Auto Parts Co. shares shed 3.7%. AutoZone's stock plunged 8%, to put it on course to open at the lowest level seen during regular trading hours since February 2015, after the company reported profit, revenue and same-store sales that missed expectations. The stock declines are bucking the trend in the broader stock market, as futures for the S&P 500 are rising 0.2% ahead of the open.
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