Diamonds and Dogs
Advance Auto Parts (AAP) likes cold weather. The auto parts company is up 10% after reporting better than expected earnings thanks to above-average demand for car batteries, wipers, and other parts. The company predicted better sales in those items to carry forward into the first quarter of the year as colder weather in key geographies are driving winter-related demand.
Garmin (GRMN) is heading in the wrong direction. The navigation stock is down 3% even though earnings were much better than expected. The earnings and sales beat was due in part to an acquisition of a marine navigation company. The marine segment brought in revenue of $83.7 million from items like chart plotters, fish finders and wearables. For the coming year, Garmin set high expectations, with revenue of $3.2 billion driven by a 13 percent increase in its outdoor segment, an 18 percent increase in marine and a 17 percent increase in automotive.