Autozone Inc
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Consumer Discretionary : Specialty Retail | Mid Cap Blend
Company profile

AutoZone, Inc. is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company operates through the Auto Parts Locations segment. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories. As of February 10, 2018, the Company operated through 6,088 locations in the United States, Puerto Rico, Mexico and Brazil. The Company's stores carry product lines for cars, sport utility vehicles, vans and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories and non-automotive products. The Company's other operating segments include ALLDATA, which produces, sells and maintains diagnostic and repair information software used in the automotive repair industry, and E-commerce, which includes direct sales to customers through www.autozone.com.

Closing Price
$1,248.33
Day's Change
0.31 (0.02%)
Bid
--
Ask
--
B/A Size
--
Day's High
1,249.36
Day's Low
1,238.13
Volume
(Above Average)
Volume:
257,431

10-day average volume:
217,947
257,431

UPDATE: Electric vehicle sales expected to grow 50% in 2021

9:40 am ET December 12, 2020 (MarketWatch)
Print

By Claudia Assis

Share issuance is the flavor of the week

Global electric-vehicle sales will grow 50% or more next year, while sales of internal combustion engine vehicles are expected to grow 2% to 5%.

That's the view of analysts at Morgan Stanley, who in a note to clients on Friday also predicted that global EV penetration would top 4%, rising to 31% by 2030.

The year 2021 "is shaping up to be a critical year for EV adoption and (internal combustion engine) de-adoption that will dictate the pace of multiple expansion, contraction, consolidation and proliferation" among the stocks, Morgan Stanley analyst Adam Jonas said in the note.

Investor interest in electric-vehicle and adjacent stocks continued unabated this week, as exemplified by Tesla Inc. (TSLA) closing the books on $5 billion worth of shares in just one day. (https://www.marketwatch.com/story/tesla-completes-5-billion-stock-sale-in-one-day-2020-12-10)

In other news this week:

See also:Federal Reserve steps up climate-change response and gets immediate backlash from some House Republicans (https://www.marketwatch.com/story/federal-reserve-steps-up-climate-change-response-and-gets-immediate-backlash-from-some-house-republicans-11607638165)

Nio ADRs have gained nearly 950% this year, compared with gains of around 13% for the S&P 500 index.

Despite the momentary dips amid stock offerings, EV stocks are enjoying a 2020 stock surge that is more widespread than Nio's jaw-dropping 2020 gains. Tesla is up 625% this year, while XPeng is up more than 111% and Li Auto around 100%.

The deal would value Last Mile at about $1.4 billion, and once it closes, likely in the first quarter, the combined company will be renamed Electric Last Mile Solutions Inc. and trade on Nasdaq under the ticker "ELMS." The company plans to launch electric delivery vans later in 2021.

Related: BlackRock vows to support more shareholder votes on climate change after proxy record disappoints (https://www.marketwatch.com/story/blackrock-vows-to-support-more-shareholder-votes-on-climate-change-11607626325)

"While we do not expect a similar performance as 2020, we expect our coverage to outperform the market," they wrote in note this week.

-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com

	

(END) Dow Jones Newswires

December 12, 2020 09:40 ET (14:40 GMT)

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