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CarMax (KMX) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Shares of used car retailer Carvana Co. (NYSE:CVNA) soared on Thursday, gaining momentum ahead of a potential strike of auto workers against the Detroit Three carmakers General Motors Company (NYSE:GM), Ford Motor Company (NYSE:F) and Stellantis NV (NYSE:STLA, EPA:STLA). Carvana stock closed up 13.5% at US$55.86, with investors pulling back slightly at Friday's open with the stock down 2% at US$54.79.
Shares of used-car retailers Carvana Co. CVNA, +12.08% rallied more than 12%, and shares of CarMax Inc. KMX, +3.05% rose around 2%, in midday trading Thursday, with just hours to go for a contract's expiration for autoworkers at Ford Motor Co. F, -0.87%, General Motors Co. GM, -0.53%, and Stellantis NV STLA, -1.16%. Union and companies remain far apart ahead of the 11:59 p.m.
RICHMOND, Va.--(BUSINESS WIRE)--CarMax, Inc. (NYSE:KMX) will report its financial results for the second quarter ended August 31, 2023 before the market opens on September 28, 2023, and it will host a conference call with investors at 9:00 a.m. ET to discuss these results. Participants on the call will include Bill Nash, president and CEO, Enrique Mayor-Mora, executive vice president, CFO and Jon Daniels, senior vice president, CAF Operations. The live conference call can be accessed by dialing.
As Hurricane Idalia makes landfall along the Florida coast, let's discuss the key areas that call for attention right now for profits or losses.
CarMax (KMX) made it through our 'Fast-Paced Momentum at a Bargain' screen and could be a great choice for investors looking for stocks that have gained strong momentum recently but are still trading at reasonable prices.
MDB, KMX, ISNPY, SHOP and JSAIY have been added to the Zacks Rank #1 (Strong Buy) List on July 13, 2023.
KMX, JSAIY and ISNPY made it to the Zacks Rank #1 (Strong Buy) value stocks list on July 13, 2023.
Sales are still down, but they're stabilizing. CarMax remained profitable in Q1 despite recent revenue declines.
CarMax (KMX) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.