Sep 25, 2013

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Morning Glance: AutoZone Inc. (NYSE:AZO) and JP Morgan Chase (NYSE:JPM)

Morning Glance: AutoZone Inc. (NYSE:AZO) and JP Morgan Chase (NYSE:JPM)

AutoZone Inc. (NYSE:AZO) reported that fiscal fourth-quarter earnings jumped up 15%, as the firm’s auto-parts and commercial sales persisted to enhance.

For the quarter concluded on Aug. 31, AutoZone declared a profit of $371.2 million, or $10.42 per share, higher as compared to $323.7 million, or $8.46 per share, a year ago. Omitting a further week of sales in the recent period, earnings came in $9.76 a share.

Net sales enhanced 12% to $3.1 billion. Same store sales (stores open at least one year) jumped up 1%.

Analysts surveyed by Thomson Reuters had most lately estimated per-share earnings of $10.34 on revenue of $3.09 billion. Gross margin remained at 51.8%.

J.P. Morgan Chase & Co. (NYSE:JPM) has offered to pay almost $3 billion, as it looks forward to end criminal and civil probes by federal and state prosecutors into its mortgage supported securities activities, as per reported by a person closely related with the discussions.

The Justice Department refused that sum as billions of dollars too low for the amount of cases involved, as per reported by the person. But the meetings have continued to contain other inquiries of JP Morgan, and the final total could be larger, the person added.

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