Advance Auto Lowers Estimates

Advance Auto Parts (AAP) shares are lower after the company warned that third-quarter earnings per share will fall more than 14 percent. The company expects earnings per share to be $1.21 versus the $1.41 the company earned in the same period last year. Revenue will fall to $1.46 billion. Same store sales are expected to fall 1.8 percent. Analysts expected third-quarter earnings of $1.35 per share on revenue of $1.47 billion.