Tuesday, December 4, 2007

AutoZone Stock Rises on Good Earnings News

Posted By on Tue, Dec 4, 2007 at 4:00 AM

Shares of Memphis-based AutoZone (AZO) motored higher Tuesday after the auto-supply retailer handily beat Wall Street's first-quarter profit targets.

From TheStreet.com: For the first quarter ended Nov. 17, the Memphis company earned $132.5 million, up 7 percent from $123.9 million a year earlier.

On a per-share basis, earnings jumped 17% to $2.02 from $1.73 last year, as the average number of shares outstanding dropped 9% due to buybacks. Analysts polled by Thomson Financial expected earnings of $1.91 a share.

More analysis and detail at TheStreet.com.

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