This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Business Highlights

AutoZone 3Q net income climbs on brisk parts sales

NEW YORK (AP) â¿¿ AutoZone Inc. said Tuesday that strong sales of automotive replacement parts and several new store openings helped drive net income up 17 percent in its fiscal third quarter.

Replacement auto parts makers like AutoZone have thrived during the recession as penny-pinching drivers opt to repair their existing cars on their own instead of buying new ones. The company said the third-quarter results mark its 15th straight quarter of double-digit growth in earnings per share.

While new vehicle sales have begun to recover in recent months, they remain below pre-recession levels and consumers are still taking a do-it-yourself approach to many of their repairs.

___

Merck shareholders ask about dividend, stock price

TRENTON, N.J. (AP) â¿¿ Shareholders of drugmaker Merck & Co. peppered its CEO at their annual meeting Tuesday with questions about what the company will do to boost its lagging stock price, raise dividends and improve performance.

The questions came after Chief Executive Richard T. Clark's upbeat presentation about progress in integrating Schering-Plough Corp.

Merck bought its New Jersey neighbor last fall, vaulting from eighth to second in the global pharmaceutical industry by revenue â¿¿ now about $40 billion a year â¿¿ behind No. 1 Pfizer Inc.

___

NYC mayor announces $22M fund for tech startups

NEW YORK (AP) â¿¿ New York City Mayor Michael Bloomberg has a message for computer geeks everywhere: Forget sunny Silicon Valley and launch your company here.

Bloomberg made his pitch Tuesday at a gathering of technology entrepreneurs, announcing the creation of a city-sponsored $22 million venture fund that will invest in promising tech companies headquartered in New York.

The city's Economic Development Corporation will invest $3 million in the fund while FirstMark Capital, a New York-based venture capital fund will provide up to $19 million more.

3 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs