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I am upgrading CarMax from sell to hold after strong 1Q26 results and impressive retail growth, despite a tough macro environment. Management's execution on pricing and inventory, especially the Value Max program, drove robust sales across both budget and premium segments. Credit quality in the CarMax Auto Finance segment remains a concern, with elevated loan loss provisions and declining financing penetration posing earnings headwinds.

CarMax (NYSE:KMX) stock surged nearly 6% during trading on Friday. These gains were driven by the company reporting better-than-expected Q1 results, with revenue rising around 6% year-over-year to $7.55 billion, aligning with estimates, while earnings exceeded predictions at $1.38 per share.

RBC Capital analyst Steven Shemesh maintained CarMax KMX with an Outperform and raised the price target from $80 to $81 on Friday.

CarMax, Inc. KMX reported better-than-expected first-quarter financial results on Friday.

Used car retailer CarMax saw greater loan losses and economic uncertainty during the quarter ended May 31. [contact-form-7] In response, the company's CarMax Auto Finance (CAF) business boosted its provision for loan losses during the quarter to $101.7 million, up from $81.

CarMax, Inc. (NYSE:KMX ) Q1 2026 Earnings Conference Call June 20, 2025 9:00 AM ET Company Participants David L. Lowenstein - Vice President of Investor Relations Enrique N.

Live Updates Live Coverage Updates appear automatically as they are published. Financial Institution Stress Tests Up Ahead 12:43 pm by Gerelyn Terzo The Federal Reserve is gearing up to unveil the results of this year’s financial institution stress tests in the days ahead. These crucial assessments are designed to gauge how nearly two dozen major banks would withstand the seismic shocks of a financial meltdown, including the potential for an economic recession. Financial stocks are up 0.53% today as a sector. The SPY ETF is now up 0.11%. Chip Stocks in Spotlight 11:42 am by Gerelyn Terzo According to a report in The Wall Street Journal, the U.S. is seeking to lift waivers that have allowed China to harness American technology. For example, Taiwan Semi is entitled to provisions allowing it to ship processors to Beijing without having to jump through the usual regulatory hoops. TSM’s U.S.-listed shares are under pressure, falling 1.5% today. The SPY is up 0.11% as of late-morning

Live Updates Live Coverage Updates appear automatically as they are published. Bank Stress Tests 12:34 pm by Gerelyn Terzo The Fed is expected to release the results of this year’s financial institution stress tests in the coming days. The tests are designed to show how nearly two dozen major banks would hold up in the event of a financial meltdown, including the possibility of an economic recession. The Nasdaq Composite is now down 0.37%. Micron Tech in Focus 11:12 am by Gerelyn Terzo Micron Technology (Nasdaq: MU) is expected to report its Q3 earnings next week. The stock is down 1% today but has advanced approximately 40% year-to-date. The company is widely expected to continue to ride the AI profit wave higher. The markets have turned cautious, sending the Nasdaq Composite lower by 0.58%. Interest Rate Horizon 10:04 am by Gerelyn Terzo While Jerome Powell and the Fed left interest rates unchanged this time around, there could be good news for the markets on the horizon. Fed G

The Investment Committee debate how to trade some of their stocks on the move.

KMX surpasses Q1 earnings estimates, driven by strong used-vehicle sales and rising unit volumes.