Diamonds and Dogs
Advance Auto Parts (AAP) is revving their engines. The auto parts retailer is up 8% today and up 100% since November following better than expected earnings. The company easily beat estimates as revenue rose 2.8% year over year to $2.33 billion. Advance Auto raised full year guidance and authorized a $600 million share repurchase program. This new authorization replaces the Company's $500 million share repurchase program authorized in May 2012, which had $415 million remaining.
YY Inc. (YY) is going down, down. The Chinese social media company is down 16% at a 10 month low following earnings. The company reported a loss of $41.8 million, after reporting a profit in the same period a year earlier. The social media company posted revenue of $570.2 million in the period up 48%, but lowered guidance for the third quarter. Looks like more tension between the US and China.