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Consumers are increasingly turning to buy new cars instead of fixing up old ones, and this trend results in weak sales for May and June at O’Reilly Automotive (NASDAQ:ORLY), causing the company to lower its sales guidance for Q2; shares tank 14 percent as a result.
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Westport Innovations (NASDAQ:WPRT) and General Motors (NYSE:GM) have entered an additional agreement for a second advanced technology development program. For this new program, Westport will engineer advanced natural technology to minimize CO2 emission and maximize fuel efficiency in light-duty vehicles.
Clorox (NYSE:CLX), is straying from the beaten path followed by rivals to China, Brazil and India, and instead look for growth closer to home here in the U.S. – its CEO Don Knauss hopes to build growth around its health-care business by boosting sales to $100 million in FY2013 and $300 million by FY2017, from a base of $34 million last year.
Effective this weekend, Amazon (NASDAQ:AMZN) will start to charge sales tax on product sales in those states where it does not have a physical presence. Consumer response to the move will clarify whether giving up this key pricing advantage will affect Amazon’s sales.
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