CarMax Beats Fiscal Q2 Estimates as Pre-Market Futures Rebound

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Summary · why it matters

CarMax shares rose 5% after the auto dealer reported a 70.6% earnings surprise to $1.16 per share in its fiscal Q2, with revenues up 11.54% to $7.88 billion. Pre-market futures were moderately higher following Monday's selloff, with the Dow up 70 points, the Nasdaq up 94, the S&P up 10 and the Russell 2000 up 4, helped by cooling oil prices at $90 per barrel on WTI and $103 per barrel on Brent. Bond yields remained elevated at 5.226% on the 10-year, 4.922% on the 2-year and 5.55% on the 30-year. The Case-Shiller Home Prices report for July showed 1.9% growth overall, 2.5% on the 20-city survey and 3.4% on the 10-city survey, marking the 14th-straight decline in real home prices, with Chicago leading gains at 6.9% for a fifth-straight month. Later today, the August JOLTS report is expected to show job openings easing to 7.2 million from 7.27 million, while the Conference Board's September Consumer Confidence reading is expected to dip to 89 from 89.4 in August.

Impact on assets 4

Consumer Discretionary▲ · 1 stocks
CarMax Inc
KMX
▲ PositiveCapitalrelevance

CarMax reported a 70.6% earnings surprise to $1.16 per share with revenues up 11.54% to $7.88 billion in fiscal Q2.

Others▲ · 3 stocks
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