AutoZone, Inc. (AZO) released its third quarter earnings report on Tuesday, May 27. Despite exceeding sales estimates, the auto parts company’s shares dipped by about 4% following the release of the report.

The company reported net sales of $4.46 billion during the quarter, above analysts’ expectations of $4.42 billion. This was up 5.4% from $4.24 billion in sales during the same quarter last year.

“I would like to thank all of our AutoZoners across the globe for their efforts in delivering strong sales results,” said AutoZone CEO, Phil Daniele. “We are excited about our momentum heading into the last quarter of the fiscal year, and we are well prepared for our summer selling season. Our disciplined approach of increasing earnings and cash flow will deliver strong shareholder value.”

AutoZone reported net income of $608.44 million for the quarter or $35.36 per adjusted share. This was down from $651.73 million or $36.69 per adjusted share in the same quarter last year.

The Tennessee-based company experienced a 5% increase in their domestic same-store sales and an 8.1% increase in international same-store sales for the quarter, after adjusting for constant currency. The company reported that higher inventory shrinkage, an increased commercial mix and the startup costs of distribution centers negatively affected gross profit, resulting in a decline in gross profits as a percentage of sales by 77 basis points to 52.7%. During the quarter, AutoZone opened 84 new stores including 54 new stores in the U.S., 25 in Mexico and five in Brazil. At the end of the quarter, the company had a combined total of 7,516 stores globally.

AutoZone, Inc. (AZO) shares ended the week at $3733.04, unchanged for the week.

DICK'S Sporting Goods Announces Earnings

DICK’S Sporting Goods, Inc. (DKS) announced its first quarter earnings on Wednesday, May 28. The Pittsburgh-based sporting goods chain’s stock rose 2% after reporting better-than-expected sales and earnings.

The retailer posted quarterly revenue of $3.18 billion, above analysts' expectations of $3.15 billion. This was up 5.2% from $3.02 billion at the same time last year.

“We are very pleased with our first quarter results,” said DICK’S Sporting Goods CEO, Lauren Hobart. “Our performance demonstrates the momentum and strength of our long-term strategies and the consistency of our execution. We are reaffirming our 2025 outlook, which reflects our strong start to the year and confidence in our strategies and operational strength while still acknowledging the dynamic macroeconomic environment."

For the first quarter, DICK’S reported net income of $264.29 million or $3.24 per adjusted share. This was down from $275.30 million or $3.30 per adjusted share reported at this time last year.

DICK’S reported comparable store sales increased 4.5% year-over-year, which was attributed to an increase in transactions and higher average ticket amounts. At the end of the quarter, the company had a combined total of 885 stores comprised of 722 DICK’S Sporting Goods stores and 163 specialty concept stores. The company affirmed its guidance for fiscal 2025 and expects earnings per diluted shares to be between $13.80 to $14.40, with comparable store sales increasing between 1.0% and 3.0%. DICK’S announced it authorized a quarterly dividend of $1.2125 per share of common stock and Class B common stock payable on June 27, 2025, to shareholders of record on June 13, 2025.

DICK’S Sporting Goods, Inc. (DKS) shares closed at $179.34, up 6% for the week.

Nvidia Posts Results

Nvidia Corporation (NVDA) posted its first quarter results on Wednesday, May 28. After reporting strong revenue and earnings, the AI technology company’s stock increased 5% following the release.

The company’s revenue for the first quarter totaled $44.06 billion. This was up 69% from revenue of $26.04 billion during the same quarter last year and above analysts’ estimates of $43.3 billion.

“Global demand for NVIDIA’s AI infrastructure is incredibly strong,” said Nvidia CEO, Jensen Huang. “AI inference token generation has surged tenfold in just one year, and as AI agents become mainstream, the demand for AI computing will accelerate. Countries around the world are recognizing AI as essential infrastructure — just like electricity and the internet — and NVIDIA stands at the center of this profound transformation.” 

Nvidia reported net income of $18.78 billion or $0.76 per diluted share for the quarter. This was up from net income during the same quarter last year of $14.88 billion or $0.60 per diluted share.

The Santa Clara, California-based company reported an increase in revenue across all segments. Data Center revenue, which includes sales from AI processors, increased 73% to $39.1 billion. The company’s Gaming revenue grew 42% to $3.8 billion. Nvidia’s Automotive and Robotics segment experienced a 72% increase to $567 million, while the Professional Visualization segment grew 19%, reaching $509 million. Nvidia declared a quarterly dividend of $0.01 per share payable on July 3, 2025, to stockholders of record at the close of business on June 11, 2025. For the second quarter of the current fiscal year, the company expects revenue to be $45.0 billion, with a margin of plus or minus 2%.

Nvidia Corporation (NVDA) shares ended the week at $135.13, up 1% for the week.

The Dow started the week of 5/27 at 41,849 and closed at 42,270 on 5/30. The S&P 500 started the week at 5,854 and closed at 5,912. The NASDAQ started the week at 19,014 and closed at 19,114.

U.S. Treasury yields fluctuated in the holiday-shortened week as investors anticipated the release of the minutes from the Federal Reserve’s latest policy meeting. Yields declined towards the end of the week after jobless claims rose more than anticipated, raising concerns about the labor market.

On Wednesday, the Federal Reserve released the minutes from the Federal Open Market Committee (FOMC) meeting held on May 6 and 7, 2025. Federal Reserve officials unanimously agreed to maintain the key federal funds rate between 4.25% and 4.50%. The minutes noted that economic growth and the labor market appeared stable although there were concerns about uncertainties in trade and fiscal policies.

“Participants agreed that uncertainty about the economic outlook had increased further, making it appropriate to take a cautious approach until the net economic effects of the array of changes to government policies become clearer,” stated the minutes. “Participants noted that the Committee might face difficult tradeoffs if inflation proves to be more persistent while the outlooks for growth and employment weaken.”

The benchmark 10-year Treasury note yield opened the week of May 27 at 4.51% and traded as low as 4.42% on Thursday. The 30-year Treasury bond opened the week at 5.04% and traded as low as 4.92% on Thursday.

On Thursday, the U.S. Department of Labor reported that initial claims for unemployment increased by 14,000 to 240,000 for the week ending May 24. This was more than the 230,000 claims that analysts anticipated. Continuing claims increased by 26,000 to 1.92 million.

"This is a sign that cracks are starting to form in the economy and that the outlook is deteriorating," said chief economist at FWDBONDS, Christopher Rupkey. "There is nothing great about today's jobless claims data and the jump in layoffs may be a harbinger of worse things to come."

The 10-year Treasury note yield finished the week of 5/27 at 4.41%, while the 30-year Treasury note yield finished the week at 4.94%.

Freddie Mac released its latest Primary Mortgage Market Survey on Thursday, May 29. According to the survey, the mortgage rates for 30-year and 15-year loans rose to the highest levels since February.

This week, the 30-year fixed mortgage rate averaged 6.89%, an increase from last week’s average of 6.86%. Last year at this time, the 30-year fixed mortgage rate averaged 7.03%.

The 15-year fixed mortgage rate averaged 6.03% this week, up from last week’s average of 6.01%. During the same week last year, the 15-year fixed mortgage rate averaged 6.36%.

“This week, the 30-year fixed-rate mortgage rose slightly higher,” said chief economist at Freddie Mac, Sam Khater. “Aspiring buyers should remember to shop around for the best mortgage rate, as they can potentially save thousands of dollars by getting multiple quotes.”

Based on published national averages, the savings rate was 0.42% as of 5/19. The one-year CD averaged 1.75%.

Editor’s Note: The publicly available financial information is offered as a helpful and informative service to our friends. This article is not an endorsement of any company, product or service.