Auto Stock Roundup: AAP, GPC Beat On Earnings, CTB Misses, GM, THO In Focus
Zacks Investment Research | Feb 23, 2018 07:17AM ET
The earnings for the quarter ending Dec 31, 2017 has seen releases from auto companies like Cooper Tire & Rubber Co. (NYSE:CTB) , Genuine Parts Company (NYSE:GPC) and Advance Auto Parts, Inc. (NYSE:AAP) last week. Both the quarterly earnings and revenues for Genuine Parts Company and Advance Auto Parts surpassed the Zacks Consensus Estimates, while Cooper Tire & Rubber missed the same. On the basis of year-over-year performance also, both earnings and revenues came in higher for Genuine Parts Company and lower for Advance Auto Parts.
Earnings apart, General Motors Company (NYSE:GM) presented a plan to invest $2.8 billion over a period of 10 years to restructure its ailing South Korean operations. In a separate development, Thor Industries, Inc. (NYSE:THO) announced the creation of a 50/50 joint venture (“JV”) with New Zealand-based Tourism Holdings, Ltd. The collaboration is expected to provide maximum benefits of digital connectivity in the fast-growing international marketplace.
(Read the previous roundup here: Zacks Investment Research
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