- Strong results from Lithia Motors (LAD +4.9%) is lifting the auto retail sector.
- Group 1 Automotive (GPI +4.1%), Sonic Automotive (SAH +3.2%), AutoNation (AN +3.0%), Asbury Automotive (ABG +2.4%), LMP Automotive Holdings (LMPX +3.0%), Penske Automotive Group (PAG +3.0%) and America's Car-Mart (CRMT +2.1%) are all attracting investor interest.
- Auto repair stocks AutoZone (AZO +1.0%) and O'Reilly Automotive (ORLY +1.1%) are also higher.
- Bank of America says despite the significant drop-off in industry volumes over the past quarter, LAD was actually able to drive a modest quarter-over-quarter improvement in earnings. "We believe this supports our thesis that the dealer group broadly (and especially LAD) may not be simply 'over-earning' from macro dynamics in the near-term, but rather structurally resetting earning. The Lithia Motors (NYSE:LAD) results are seen as a harbinger of strong results to be printed this earnings season across the sector.
- Dig into Lithia Motors' (LAD) earnings report.