Why Genuine Parts Stock Investors Saw Red This Week

Genuine Parts (NYSE: GPC) shares fell hard this week after the global automotive and industrial parts giant reported some discouraging news about its short-term operating trends. The stock fell 20% through early Thursday trading, according to S&P Global Market Intelligence, compared to a modest decline for the S&P 500 index.That performance gap was due to Genuine Parts' Q3 earnings update, which showed surprisingly weak sales and profit trends. Executives said in an Oct. 22 press release that sales landed at $6 billion for the selling period that ran through late September. That result was good enough for a 2.5% increase, year over year. However, backing out the impact of recent acquisitions and an additional selling day in the period compared to last year, and sales in fact fell in both its industrial and automotive parts divisions.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool