CarMax reported first-quarter fiscal 2027 earnings of $1.31 per share, surpassing analyst estimates of 94 cents, with revenue rising 6.2% to $8.01 billion. However, gross profit declined 4.4%, and gross profit per retail used vehicle dropped by $230 due to pricing actions aimed at boosting sales. The company expects lower vehicle margins to persist throughout the year as it focuses on sales growth and operational efficiencies. Despite strong sales and a new growth strategy, CarMax's shares fell 5.64% in premarket trading, reflecting investor concern over margin pressures.
The S&P 500 fell 0.57% to 7,511.35 on Tuesday as investors rotated out of chip stocks into cyclical sectors. Traders on Polymarket predict a 78% chance the index will open higher on Wednesday, ahead of the Federal Open Market Committee meeting under ...
Federal Reserve Chair Kevin Warsh's first post-meeting press conference introduces uncertainty about future rate moves, with markets watching for hawkish or dovish signals that could impact expectations. Accenture's recent stock weakness is viewed as...
Starboard Value, led by Jeff Smith, fully exited its positions in Salesforce and Autodesk in Q1 2026, shifting focus to Lamb Weston and CarMax. The hedge fund's activism helped Salesforce improve margins and execute a $25 billion share buyback before...
