Latest Stories
Genuine Parts (GPC) Shares Skyrocket, What You Need To Know
Shares of auto and industrial parts retailer Genuine Parts (NYSE:GPC) jumped 12.1% in the morning session after the company reported a "beat and raise" quarter. First quarter results beat Wall Street analysts' earnings expectations. Gross margin also improved and the company continued to generate positive cash flows. Looking ahead, its full-year earnings guidance exceeded Wall Street's estimates and was raised to $9.88 at the midpoint vs. the previous midpoint of $9.80. On the other hand, its revenue unfortunately missed analysts' expectations during the quarter. Zooming out, we think this was still a decent, albeit mixed, quarter, showing that the company is staying on track.
Why Is Duolingo (DUOL) Stock Soaring Today
Shares of language-learning app Duolingo (NASDAQ:DUOL) jumped 8.5% in the morning session after the S&P Dow Jones Indices announced that the company would join the S&P MidCap 400 index before the start of trading on Monday, April 22, 2024. Being included in the index means that Duolingo will likely be held by many mutual funds and ETFs, which could potentially drive up demand for the stock.
Genuine Parts (NYSE:GPC) Misses Q1 Sales Targets
Auto and industrial parts retailer Genuine Parts (NYSE:GPC) missed analysts' expectations in Q1 CY2024, with revenue flat year on year at $5.78 billion. It made a non-GAAP profit of $2.22 per share, improving from its profit of $2.14 per share in the same quarter last year.