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Aug. 25, 2015, 10:43 AM
- Goldman Sachs analysts say the U.S. stock market correction has many more parallels with 1998 than 2008, which “suggest[s] a rebound ahead,” while predicting the S&P 500 will rise by 11% from current levels to reach 2,100 by year's end.
- The S&P fell 19% between July and August 1998, but "ultimately, the U.S. economy was relatively unaffected by overseas financial market gyrations in 1998, and we believe a similar situation will occur in 2015," Goldman says.
- The correlation between U.S. economic growth and Chinese growth is relatively low, Goldman says, estimating that a one percentage point drop in Chinese growth would translate into a 0.06 pp reduction in U.S. GDP.
- The best strategy for U.S. consumers, the bank advises, is to hold companies with high domestic revenues and avoid companies with high foreign sales.
- Goldman's list of the 25 most oversold stocks with high U.S. sales exposure: KMX, M, WFM, CHK, SWN, RRC, COG, PXD, OKE, MPC, NAVI, ETFC, LNC, BXP, KEY, RF, DFS, ANTM, CSX, NSC, UNP, JBHT, FSLR, ADS, PAYX
Aug. 3, 2015, 8:13 AM
Jul. 8, 2015, 10:42 AM| Jul. 8, 2015, 10:42 AM | 1 Comment
Jun. 19, 2015, 7:55 AM
- CarMax (NYSE:KMX) reports used unit sales in comparable stores increased 4.9% in Q1.
- Total wholesale vehicle unit sales rose 4.7% due to growth of the company's store base.
- CarMax Auto Finance income grew 15.3% to $109.1M.
- Average selling prices: Used vehicles -1.6% to $19,851, New vehicles +0.9% to $26,997, Wholesale vehicles flat at $5,449.
- Gross profit per used vehicle was flat at $2,200.
- Gross profit per new vehicle -120 bps to $371.
- FY2016 Guidance: Capital expenditure: ~$360M.
Jun. 19, 2015, 7:36 AM
- CarMax (NYSE:KMX): Q1 EPS of $0.86 in-line.
- Revenue of $4.01B (+6.9% Y/Y) misses by $140M.
Jun. 18, 2015, 5:30 PM
May 14, 2015, 9:19 AM
- Sterne Agee initiates coverage on CarMax (NYSE:KMX) with a Buy rating on its view the company has new expansion opportunities.
- The investment firm sets a price target of $87.
- Previously: CarMax +2% after posting strong results (Apr. 02 2015)
- Previously: CarMax beats by $0.05, beats on revenue (Apr. 02 2015)
- KMX +2.66% premarket to $72.95.
Apr. 2, 2015, 9:13 AM
Apr. 2, 2015, 7:46 AM
- CarMax (NYSE:KMX) reports used vehicles sales rose 12.9% to $2.899B in FQ4.
- New vehicle sales fell 7.7% to $45.7M during the quarter.
- Wholesales vehicle sales +17% to $492M.
- Average selling prices: Used +0.5% to $19,297; New -0.7% to $27,101; Wholesale +3.5% to $5,527.
- The company's gross profit rate increased 100 bps to 13.5%.
- CarMax plans for 14 store openings in FY16.
- KMX +2.21% premarket to $69.90.
Apr. 2, 2015, 7:39 AM
- CarMax (NYSE:KMX): Q4 EPS of $0.65 beats by $0.05.
- Revenue of $3.51B (+14.0% Y/Y) beats by $10M.
- Shares +1.84% PM.
Apr. 1, 2015, 5:30 PM
Mar. 31, 2015, 2:54 PM
- Could CarMax (NYSE:KMX) or AutoNation (NYSE:AN) be next? Larry Van Tuyl, chairman of Berkshire Hathaway Automotive (BRK.A, BRK.B), tells CNBC he hopes to purchase more U.S. auto dealerships.
- Berkshire closed on its purchase of Van Tuyl - which has 81 dealerships in 10 states - earlier this month.
- Previously: Berkshire closes on auto dealer purchase (March 10)
Mar. 4, 2015, 8:12 AM| Mar. 4, 2015, 8:12 AM
Feb. 10, 2015, 3:16 PM
- CarMax (KMX +1.6%) announces it plans to hire more than 2.5K people for open positions.
- The company says a majority of the positions will be in sales.
Dec. 22, 2014, 10:49 AM
- TrueCar projects automobile sales in the U.S will rise 2.6% to 17M next year.
- The research firm forecasts the average transaction price of new vehicles will increase 2.4% to a $32,589.
- TrueCar's models to watch: Ford F-Series, Mazda CX-3, Mercedes-Benz GLA.
- Related stocks: GM, F, TM, FCAU, HMC, OTCPK:NSANY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, OTCQX:VLKAY, OTCPK:FUJHY, KMX, CRMT, AN, OTCPK:MZDAY, LAD.
Dec. 19, 2014, 3:00 PM
- U.S. automobile sales are forecast to increase 11% in December to an annual selling rate of 16.6M units, according to a fresh forecast from TrueCar.
- The research firm says the industry benefited from lower gas prices and a better month of weather than was seen a year ago.
- For the full year, TrueCar expects total U.S. vehicle revenue to be up 8.3% to close to $1T.
- Transaction prices on new cars are up 1.9% to $31,831 YTD.
- Used vehicle sales are up 3.3% for the year.
- Related stocks: GM, F, TM, FCAU, HMC, OTCPK:NSANY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, OTCQX:VLKAY, OTCPK:FUJHY, KMX, CRMT, AN, LAD.
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