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Car parts sellers’ stocks fall as O’Reilly, Volvo news cast a pall over sector

Shares of auto parts retailers took deep dives on Wednesday after O’Reilly Automotive Inc.’s sales warning and Volvo’s plan to phase out conventional combustion engines cast a pall over the sector.

O’Reilly’s stock ORLY, -18.79% plunged $42.61, or 19.3%, in afternoon trade, putting it on course to suffer the biggest one-day price and percentage decline since it went public in April 1993. Volume ballooned to 9.4 million shares in recent trade, which was nearly seven times the full-day average.

The company said early Wednesday that second-quarter same-store sales rose 1.7% from a year, well short of its guidance of 3% to 5% growth.

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