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    Advance Auto Parts (AAP) & Ambarella (AMBA) Drop After Earnings

    Advance Auto Parts (AAP) & Ambarella (AMBA) Drop After Earnings

    FromSchwab Network

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    Advance Auto Parts (AAP) & Ambarella (AMBA) Drop After Earnings

    FromSchwab Network

    ratings:
    Length:
    8 minutes
    Released:
    May 31, 2023
    Format:
    Podcast episode

    Description

    Advance Auto Parts (AAP) earnings were released today, May 31st, premarket. Caroline Woods discusses AAP as its adjusted EPS came in at $0.72 versus an estimated $2.60 and its revenue came in at $3.42B versus an estimated $3.43B. She talks about how AAP cut FY23 cash flow guidance from at least $400M to $200M-$300M. She also goes over Ambarella (AMBA) earnings which were released yesterday, May 30th, postmarket. Its adjusted EPS came in at -$0.15 versus an estimated -$0.12 and revenue came in at $62.14M versus an estimated $66.81M. AMBA is down after worse-than-expected earnings and issued lower 2Q revenue guidance. Keybanc downgraded AMBDA to sector weight from overweight. Tune in to find out more about the stock market today.
    Released:
    May 31, 2023
    Format:
    Podcast episode

    Titles in the series (100)

    A unique lineup of financial news and education programs, all available to stream without a subscription. Listen to industry experts track market action and interpret how it may apply to your investment portfolio. Get real-time insights, commentary, and exclusive access to CEOs, analysts, and market experts. Empowering Every Investor and Trader. Every Market Day. Produced by TD Ameritrade Media Productions Company, a wholly-owned subsidiary of TD Ameritrade Holding Corporation. TD Ameritrade Holding Corporation is a wholly owned subsidiary of The Charles Schwab Corporation. TD Ameritrade Media Productions Company is not a financial adviser, registered investment advisor, or broker-dealer. THE TD AMERITRADE NETWORK SITE, CONTENT, APPS, AND RELATED SERVICES, ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS, WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED. This is not an offer or solicitation in any jurisdiction where we are not authorized to do business or where such offer or solicitation would be contrary to the local laws and regulations of that jurisdiction, including, but not limited to persons residing in Australia, Canada, Japan, Saudi Arabia, UK, and the countries of the European Union. All TD Ameritrade Network content © TD Ameritrade Network. All rights reserved.