The S&P 500’s top gainers on February 21 were:
Advance Auto Parts
Advance Auto Parts, which the largest retailer of automotive replacement parts and accessories in the US, was the S&P 500’s top gainer on Wednesday. After declining for three consecutive trading weeks, Advance Auto Parts started this week on a weaker note. However, Advance Auto Parts opened higher on February 21 and closed at three-week high price levels.
The buying pressure in Advance Auto Parts increased on Wednesday amid the release of its 4Q17 earnings report. According to management, the earnings per share in 4Q17 was $0.77—better than analysts’ forecast of $0.65. The revenues posted in the last quarter were $2.04 billion—higher than the forecast of $2.02 billion. Advance Auto Parts’ revenues decreased 1.9% compared to $2.08 billion in revenues recorded in the same period the previous year. According to management, battery sales in the last quarter had above-average growth. Amid cold weather in key geographies, management expects the demand for batteries, wipers, and lights to increase in 1Q18.
On February 21, Advance Auto Parts gained 8.2% and closed the day at $114. Advance Auto Parts is part of the S&P 500 Consumer Discretionary sector, which declined 0.13% on Wednesday.
Next, we’ll discuss how Mattel and Expeditors International of Washington performed on February 21.