Bank of America expects the industry to experience lower growth.

O'Relly Automotive Inc. (ORLY - Get Report) , Advance Auto Parts Inc. (AAP - Get Report)  and Auto Zone Inc. (AZO) could face some market pressure Friday following a bearish Bank of America/Merrill Lynch note on the auto part retailer industry. 

Advance Auto Parts was downgraded to "underperform" from "neutral" while both O'Reilly Automotive and Auto Zone were downgraded to "neutral" from "buy."

The firm is lowering its industry growth expectations while saying that sustained weakness in sentiment can no longer support premium valuations in the industry. 

Advance Auto's shares fell 2.7% to $102.34 on Friday morning. O'Reilly's dropped 2.8% to $173.78.

What's Hot On TheStreet

The biggest deal-maker around strikes again: Berkshire Hathaway Energy, a division of Warren Buffett's Berkshire Hathaway Inc., (BRK.A - Get Report) (BRK.B - Get Report) , confirmed Friday that it will purchase Oncor Electric Delivery Co. LLC in a deal that values the bankrupt unit's equity at $11.25 billion. "Oncor is an excellent fit for Berkshire Hathaway, and we are pleased to make another long-term investment in Texas - when we invest in Texas, we invest big!", Buffett said in a statement. "Oncor is a great company with similar values and outstanding assets."

Clearly, Buffett is still bullish on America's future. TheStreet takes a look at the billionaire's biggest bets on America.

Who cares, Elon: Tesla (TSLA - Get Report) agreed to build the world's largest lithium-ion battery park in South Australia on Friday, signing off on a deal to finish the installation within 100 days or give it away for free. Failure to deliver the project on time would cost his company about $50 million, said CEO Elon Musk, though neither the state government nor Tesla released details of the contract.

Meanwhile, Tesla's stock is in a bear market. The company's highly anticipated first Model 3 electric cars will begin production on Friday.

Qualcomm battle with Apple gets even nastier: Qualcomm (QCOM - Get Report) added a couple of unexpected wrinkles into its legal salvo with Apple (AAPL - Get Report) , TheStreet's tech columnit Eric Jhonsa says. One of these wrinkles aims to neutralize some of the legal arguments Apple, as well as certain regulators, have been making against Qualcomm. The other, says Jhonsa, aims to both lower the odds of a political intervention in Apple's favor, as well as boost Qualcomm's near-term chip sales at Intel Corp.'s (INTC - Get Report) expense.

TheStreet's founder and Actions Alerts PLUS charitable trust portfolio manager Jim Cramer makes some great points on Apple here.

Apple is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AAPL? Learn more now.

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