3 Stocks to Watch on Tuesday: Advance Auto Parts, Inc. (AAP), Berkshire Hathaway Inc. (BRK.B) and Equity One, Inc. (EQY)

The Regency-Equity One merger is worth $15.6B

U.S. equities experienced slight losses on a day when gold slipped down to its lowest price since June. The S&P 500 Index lost a fraction, the Dow Jones Industrial Average gained 0.1% and the Nasdaq Composite fell 0.4%.

3 Stocks to Watch: Advance Auto Parts, Inc. (AAP), Berkshire Hathaway Inc. (BRK.A) and Equity One, Inc. (EQY)Several companies made headlines after the bell, including Advance Auto Parts, Inc. (NYSE:AAP), Berkshire Hathaway Inc. (NYSE:BRK.A, NYSE:BRK.B) and Equity One, Inc. (NYSE:EQY).

Here’s how they did:

Advance Auto Parts, Inc. (AAP)

Advance Auto Parts released its quarterly earnings data Monday.

The company announced that it earned $1.53 a share in its third quarter of the current fiscal year, failing to reach the $1.63 a share it earned a year ago.

The figure came in at $1.73 per share when adjusted for one-time items, which was better than the $1.71 a share analysts polled by FactSet predicted.

Advance Auto Parts’ revenue came in at $2.25 billion, which was lower than the $2.30 billion it raked in a year ago. The consensus estimate called for net sales of $2.2 billion.

The company reported a 1% decline in same-store sales. Store closures also led to the company failing to rake in as much as it did last year, but beating estimates helped drive the stock upwards.

AAP shares popped 14% in early morning trading Tuesday.

Berkshire Hathaway Inc. (BRK.B)

Berkshire Hathaway CEO Warren Buffett assumed a position in four major airlines yesterday.

The billionaire investor put more than $1.2 billion into American Airlines Group Inc (NASDAQ:AAL), Delta Air Lines, Inc. (NYSE:DAL), United Continental Holdings Inc (NYSE:UAL) and Southwest Airlines Co (NYSE:LUV).

The move comes as a surprise considering the fact that Buffett has denounced airlines stocks due to high competition and volatile fuel prices, but it appears he is betting on at least one of these companies to pull ahead of the pack.

Berkshire’s stake on American is worth $797 million, while his United and Delta ones are worth $238 million and $249 million. The details of the Southwest filing have yet to be released.

BRK.B shares are giving back 84 basis points after the bell Monday, while AAL stock was up 1.5%, DAL shares are down 50 basis points, UAL stock is rising 1.3% and LUV shares surged 1.5%.

Equity One, Inc. (EQY)

Equity One has reportedly agreed to merge with Regency Centers Corp (NYSE:REG).

The $15.6 billion transaction between the real estate investment companies will reportedly keep Regency as the publicly traded company as it will take over Equity One’s business.

The combined company will have a pro forma equity market capitalization of approximately $11.7 billion, while the total market capitalization will amount to $15.6 billion, creating the single largest real estate investment trust.

The new Regency Centers will have assets from both companies, which include development and redevelopment capacities that will help increase the value of company shares.

“Through this transaction we are creating the nation’s preeminent shopping center REIT with excellent embedded growth potential,” said Martin E. “Hap” Stein, Jr., Chairman and Chief Executive Officer of Regency. “Importantly, we expect the transaction to be accretive to core FFO per share while preserving a sector-leading balance sheet, with greater financial flexibility to support growth initiatives.”

EQY stock is up 14.8% after the bell Monday.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/11/3-stocks-watch-tuesday-advance-auto-parts-inc-aap-berkshire-hathaway-inc-brk-equity-one-inc-eqy/.

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