S&P 500
7,491.60
-0.22%
Dow Jones
51,822.80
+0.44%
Nasdaq 100
30,394.90
-0.06%
Russell 2000
2,990.87
+0.52%
FTSE 100
10,459.40
+0.72%
Nikkei 225
73,266.70
+1.78%
Stock Market Live June 22, 2026: S&P 500 (SPY) Little Changed as Markets Wait on Iran Progress

Investing

Pep Boys Becomes Dead Boys

Photo of Jon C. Ogg
By Jon C. Ogg Updated Published

Invalid Image
Pep Boys – Manny, Moe & Jack (NYSE: PBY) was supposed to be the next buyout.  Apparently not and shares are getting crushed.  The news is out confirming that Gores is ditching its planned $15.00 per share buyout which would have valued that auto parts retailer at roughly $791 million.

A walk-away here almost feels like it is par for the course at Pep Boys.  This company has been an on-again off-again merger candidate for years.  The gains seen at the larger AutoZone Inc. (NYSE: AZO), Advance Auto Parts Inc. (NYSE: AAP) and O’Reilly Automotive Inc. (NASDAQ: ORLY) have not been shared by Pep Boys.  While sales grew in the sector as Americans let their cars get older and older it is hard to not notice that Pep Boys managed only meager growth with sales of $2.06 billion in the last fiscal year.

The vote was delayed earlier this month due to a serious deterioration in the Pep Boys’ business.  This had already put a hex on Peb Boys’ stock, sending shares from almost $15 down to as low as $11.09 recently.  This is one of those situations where bad news has turned into even worse news.

Shares are trading down 22.8% at $8.56 in active trading with over 1 million shares having traded in the pre-market and right after the open.  Keep in mind that the 52-week trading range is $8.18 to $15.46.

JON C. OGG

Follow 24/7 Wall St. on Google
Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

Continue Reading

GM’s Voluntary Severance Offers for 18,000 Employees, More Peak Auto Trends Confirmed
Jon C. Ogg |

GM’s Voluntary Severance Offers for 18,000 Employees, More Peak Auto Trends Confirmed

GM managed to prove that major car and auto manufacturers can still deliver on strong earnings. That said, there is…

Jon C. Ogg |

The Market’s Biggest Selling Fallout Victims (ALU, BAC, LNG, CRU, DHI, F, GM, FFSL, GERN, STEM, IPSU, IRDM, JWN, S, SIRI, VHC, RMBS)

When you have a credit rating downgrade of the U.S. followed by a 300+ point drop in the DJIA and…

Jon C. Ogg |

Top Earnings & Economic Previews For The Day Ahead (AAP, APA, AMAT, BIDU, ABX, DTV, DVA, DUK, ELNK, GM, LEAP, TAP, JWN, SPWR, WM, WWWW)

Thursday is a fairly busy day for earnings expectations.  We are expecting the following reports: Advance Auto Parts Inc. (NYSE:…

Jon C. Ogg |

Top Day Trader Alerts (AMZN, ARMH, ATHN, C, ETFC, F, ERIC, QLGC, KWK, SNDK)

We have many stocks on the move this morning for day traders and active traders to choose from.  Most are…

Jon C. Ogg |

After the Crash… Value Surfaces In Pep Boys Stock (PBY, AZO, AAP, ORLY)

Pep Boys – Manny, Moe & Jack (NYSE: PBY) has been a disaster since its private equity group buyout imploded. …

Why Dividend Aristocrat Genuine Parts Soared Today
Gerelyn Terzo |

Why Dividend Aristocrat Genuine Parts Soared Today

In a tight lending environment, older cars are staying on the road for longer. As a result, one way to…

Jon C. Ogg |

If CSC Can Stage a Turnaround, Can Seven Other Lingering Dead Techs? (AMD, ALU, BRCD, DELL, RIMM, SYMC, UIS)

Everyone loves a good turnaround story, particularly in down-and-out technology stocks. The problem is that many turnarounds can never turn…

Douglas A. McIntyre |

Virgin Media Almost Half of Old Buyout Price (VMED, NWS, CMCSA)

Can you recall at the start of 2006 when Virgin Media, Inc. (NASDAQ:VMED) was deemed as in-play as a buyout…

Jon C. Ogg |

Trader Alerts: 9 Big Stock Movers This Wednesday (BA, CMG, DELL, FIVE, GNW, ONXX, VRA, WEN, YHOO)

Frank Golhen, via Wikimedia CommonsMany stocks are on the move this Wednesday morning and we are covering some of the…

Top Gaining Stocks

Super Micro Computer
SMCI • Vol: 45,431,941
ON Semiconductor
ON • Vol: 2,652,140
Skyworks Solutions
SWKS • Vol: 1,145,505
AbbVie
ABBV • Vol: 1,829,197
Generac
GNRC • Vol: 310,752

Top Losing Stocks

Coterra Energy
CTRA • Vol: 73,319,495
Moderna
MRNA • Vol: 2,579,731
Google
GOOG • Vol: 8,608,718
Google
GOOGL • Vol: 12,983,213
Domino's Pizza
DPZ • Vol: 296,369