DIRS.INFO The most relevant business & tech news

☆ Amazon and 2 discount retailers shine this week even as the S&P 500 struggles
▼ + stars: | 2023-06-23 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Discounters Dollar Tree and Dollar General added nearly 6% and 5%, respectively. Dollar Tree jumped following its investor day on Wednesday, where the company reaffirmed fourth-quarter and full-year guidance. Dollar General had more of a steady ascent over the course of the week. Dollar Tree is up slightly more than 1% since 2023 began, while Dollar General has plummeted more than 30%. DLTR DG YTD mountain Dollar Tree vs. Dollar General, year to date E-commerce giant Amazon also made the list, up 4% on the week.

Persons: CarMax, StreetAccount, DLTR, —, Fred Imbert Organizations: Nasdaq, CNBC Pro, Dollar, Amazon, Investors

☆ Central banks around the world just made borrowing costs more expensive
▼ + stars: | 2023-06-23 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

The central banks of the UK, Turkey, Norway, and Switzerland all raised interest rates yesterday. The Bank of England is the UK's central bank. Let's start with the Bank of England's decision to raise interest rates by 50 basis points and bring borrowing costs to 5%. Turkey's central bank, meanwhile, raised interest rates by 650 basis points to 15%, which was somehow less than markets expected. Just to cover our bases: Norway's central bank raised its core lending rate by half a percentage point, and Switzerland's policymakers hiked its benchmark rate by a quarter point.

Persons: Phil Rosen, Powell, Myron Jobson, Recep Tayyip Erdogan, Spencer Platt, Jerome Powell's, Goldman Sachs, David Rosenberg, it's, Warren Buffett, Jason Ma, Nathan Rennolds Organizations: Bank of England, Bank of, Interactive, New York Stock Exchange, U.S . House, Dow, Getty, Apogee Enterprises, Homeowners, Apple, Microsoft, Nvidia, S3 Partners, BMO Capital Markets, Berkshire Hathaway, Gates Foundation Locations: Manhattan, Turkey, Norway, Switzerland, Maremagnum, Turkey's, New York City, U.S, New York, Los Angeles, London

Her comments followed a hawkish stance by Fed Chair Jerome Powell in his two-day testimony before the Senate Banking Committee earlier this week. Markets calmed briefly and the S&P 500 (.SPX) and the Nasdaq (.IXIC) added some gains in the previous session after Powell said the Fed will proceed with caution. We've heard from the various Fed governors, Powell talk about higher interest rates," said Paul Nolte, senior wealth advisor and market strategist at Murphy & Sylvest. Yields on the 2-year, which best reflects interest rate expectations, dropped to hover at 4.71% on Friday. Investors will also monitor comments from some Fed policymakers due to speak later in the day.

Persons: Mary Daly, Jerome Powell, Powell, We're, We've, Paul Nolte, advancers, Shubham Batra, Shristi, Arun Koyyur Organizations: Starbucks, Dow, Nasdaq, Federal Reserve, San Francisco Fed Bank, Reuters, Committee, Murphy, Apple, Microsoft, Dow Jones, 3M, Carmax Inc, Starbucks Corp, NYSE, Thomson Locations: San, U.S, Bengaluru

☆ Karen Firestone's top stock picks: Amazon, Adobe, Carmax
▼ + stars: | 2023-06-22 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKaren Firestone's top stock picks: Amazon, Adobe, CarmaxKaren Firestone, Chairman and CEO of Aureus Asset Management, joins 'Squawk Box' to discuss the latest market trends, and her top stocks to watch including Amazon, Adobe, and Carmax.

Persons: Karen Firestone's, Carmax Karen Firestone Organizations: Asset Management, Adobe

☆ Morning Bid: Dogged central banks rein in risk
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +4 min

Markets have been here before over the past year - continually underestimating the economy's resilience and Fed's trajectory. There was far less ambiguity in moves from Europe's central banks on Thursday. The Swiss National Bank raised rates by 25bp earlier, as expected, but also left the door open for more tightening. And Norway's central bank surprised with an aggressive 50bp rise to a 15-year high of 3.75% and signaled another move in August. In the emerging market world, Turkey was expected to more than double its 8.5% interest rate in a post-election macroeconomic policy reset.

Persons: Mike Dolan, Jerome Powell, Powell, Raphael Bostic, BoE, Britain's, Christopher Waller, Michelle Bowman, Loretta Mester, Thomas Barkin, Elaine Hardcastle Organizations: Federal, Financial, Fed, Atlanta Fed, Yahoo Finance, Bank of England, Swiss National Bank, Treasury, The Times, Bank of, U.S, Kansas City Federal, Chicago Fed, Cleveland Fed, Richmond Fed, Accenture, Darden, Graphics Reuters, Reuters, Thomson Locations: U.S, Britain, Europe's, Turkey, Mexico

☆ Stock futures are flat on Thursday evening as Wall Street heads for losing week: Live updates
▼ + stars: | 2023-06-22 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Stock futures were little changed in overnight trading Thursday as Wall Street headed for a losing week. Futures tied to the S&P 500 inched up by 0.05%, while Nasdaq-100 futures gained about 0.1%. The S&P 500 added 0.37%, while the Dow Jones Industrial Average lost 4.81 points, pressured by shares of Boeing . The Dow and S&P 500 have lost 1% and 0.6%, respectively, since the start of the week. A relatively light week for economic data continues Friday with S&P Global PMI composite data for June.

Persons: Yung, Yu Ma Organizations: NYSE, Stock, Nasdaq, Dow Jones, Investors, Apple, Dow Jones Industrial, Boeing, Dow, BMO Wealth Management, P, PMI Locations: CarMax

☆ Bull market or fool's market? Investors say the latter
▼ + stars: | 2023-06-18 | by ( Krystal Hur | ) edition.cnn.com time to read: +10 min

Mega-cap tech stocks that were battered by rising interest rates in 2022 have also seen a huge boost this year. The Federal Reserve on Wednesday held interest rates steady but indicated that it could hike rates twice more this year. Tech stocks’ record runApple shares closed at a record high on Thursday, creeping closer to reaching a $3 trillion market capitalization. The rally’s next testDespite some bullish signs in the market, investors say the math isn’t adding up to a sustained rally — especially considering a possible recession looms on the horizon. The central bank last Wednesday paused interest rates and indicated that it could raise rates two more times this year.

Persons: Dow, ”, Amanda Agati, Wednesday’s, Stocks, Joe Biden, Dan Ives, “, ” Ives, Richard Steinberg, Jerome Powell, Agati, Sylvia Jablonski, Christopher Waller, Thomas Barkin, ” Waller, Sarah Henry, Henry, Here’s, Price, Refinitiv, Paul Eitelman, ” Eitelman Organizations: CNN Business, Bell, New York CNN, Apple, Nasdaq, PNC Financial Services, Management, “, Federal Reserve, Nvidia, Wedbush Securities, Microsoft, The Colony, Treasury, ”, Federal, Richmond Fed, Logan Capital Management, CPI, PPI, University of, Consumers, North America, Russell Investments, Wednesday, National Association of Realtors, Senate Locations: New York, what’s, Oslo

☆ Street looks to extend rally into a holiday-shortened week that is light on data
▼ + stars: | 2023-06-17 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

Also on tap are several speaking engagements for Federal Reserve members, including Chair Jerome Powell on Wednesday and Thursday in his semiannual monetary policy report to Congress. ET: St. Louis Fed president Jim Bullard speaks 8:30 a.m. ET: Federal Reserve Chairman Jerome Powell speaks 12:25 am. ET: Federal Reserve Chairman Jerome Powell speaks 10:00 a.m. Federal Reserve Board Chairman Jerome Powell departs after speaking during a news conference following the Federal Open Market Committee meeting, at the Federal Reserve in Washington, DC, on June 14, 2023.

Persons: Jerome Powell, Louis, Jim Bullard, John Williams, Austan Goolsbee, Loretta Mester, Tom Barkin, Friday's, Jim Cramer's, Jim Cramer, Jim, Mandel Ngan Organizations: Federal Reserve, Darden, FedEx, Louis Fed, Housing, NY Fed, Federal, Chicago Fed, Patterson Companies, Winnebago Industries, Algoma Steel, Cleveland Fed, Richmond Fed, Commercial Metals, U.S, Treasury, Jim Cramer's Charitable, CNBC, AFP, Getty Locations: United States, Olive, Washington ,

☆ Wall Street prepares for more gains this month after past week's breakout
▼ + stars: | 2023-06-16 | by ( Scott Schnipper | ) www.cnbc.com time to read: +6 min

For now, it's not a brighter economic picture or an exuberant earnings outlook pushing stocks higher. Another reason that some investors have come back to stocks is simply because the S & P 500 ended the week more than 23% above last October's low. "The next level of resistance is above 4,500 on the S & P. Historically, the market gains 14.5% on average between the 20% threshold level and the next decline of 5% or more. "Inflation peaked in June of last year and has been rapidly declining over the past 12 months. Trading the week after is often treacherous, Hirsch said, with the Dow Jones Industrials falling in 27 of the past 33 years and the S & P 500 down in 23 of 33 years.

Persons: it's, Sam Stovall, Clinton, Wells Fargo, Chris Harvey, Harvey, Jay Hatfield, Price, CarMax, Stovall, Jeffrey Hirsch, Hirsch, Dow Jones Industrials, York Fed's John Williams, Jerome Powell, Philip Jefferson, Lisa Cook, Adriana Kugler, Avid Bioservices, Patterson Cos, Christopher Waller, Michael Bloom, Fred Imbert, Alex Harring Organizations: Fed, CFRA, Microsoft, Infrastructure Capital Management, Consumer, PPI, FedEx, Darden, Dow, Housing, Financial, Enerpac, Avid, Banking, Accenture, Commercial Metals, P, PMI Locations: New York, York, Dublin

☆ Wait for a price break next week while the market's overbought, Jim Cramer says
▼ + stars: | 2023-06-16 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Friday provided his game plan for the week ahead, encouraging investors to cool their heels while the market is so overbought. "I think it's going to be worth your while to wait for a price break before you pull the trigger," Cramer said. While the market is closed on Monday for Juneteenth, Cramer will be looking at Raytheon's performance at the Paris air show. On Thursday, Cramer will be focused on Olive Garden parent Darden 's earnings report, as well as investor meetings from software companies Samsara and MongoDB . Cramer thinks CarMax 's Friday earnings report will show that used car prices are coming down, which he said is a good sign for the company.

Persons: CNBC's Jim Cramer, Cramer, Juneteenth, He's, Raj Subramaniam, Darden, CarMax, I'm Organizations: FedEx, Olive Garden Locations: Paris

☆ A fund manager at a $3 billion firm who looks for companies expected to grow their market share lists his top 10 stocks and the key variables he looks for when making long-term bets
▼ + stars: | 2023-06-15 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

Brian Macauley looks for companies operating in large markets that can grow their market share. This year, which direction the stock market could go has been a point of contention. His sweet spot is smaller companies operating within a large market that have the potential to go from a 5% market share to 25%. An attractive growth opportunity; his picks typically have a small market share in a large market and are well-positioned to gain market share. CarMax (KMX) is another example of a business expected to grow its market share within the used car sector.

Persons: Brian Macauley, Lauren Goodwin, Morgan Stanley, Hennessy, Macauley, Sunbelt Organizations: Hennessy Funds, Morningstar, Sunbelt Rentals, Fund Locations: North America

☆ Too far, too fast: These stocks may be due for a pullback after exceeding analyst price targets
▼ + stars: | 2023-05-29 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Investors beware — a number of stocks have overshot analysts' price targets, and could be due for a pullback, according to CNBC Pro. Our screen found S & P 500 stocks with an implied downside of at least 3% after the shares exceeded their average price targets, according to FactSet data. In fact, Citi analyst Christopher Allen initiated coverage of the investment management firm this week with a sell rating, saying there's 9% downside, according to StreetAccount. Slightly more than half, or 57%, of analysts have a buy rating on the stock. Meanwhile, Lam Research also made the list, with just half of analysts recommending investors buy the semiconductor equipment maker.

☆ Auto-Parts Growth Story Still Adds Up
▼ + stars: | 2023-04-27 | by ( Jinjoo Lee | ) www.wsj.com time to read: +1 min

O’Reilly Automotive said in earnings results released late Wednesday that comparable-store sales rose 10.8% in the first quarter. Same-store sales growth has turned negative recently at auto-dealer chains such as Lithia Motors and AutoNation , as well as used-car retailer CarMax . O’Reilly Automotive , the largest auto-parts retailer by market cap, said in earnings results released late Wednesday that comparable-store sales rose 10.8% in the first quarter, well outpacing the 6.8% pace Wall Street analysts polled by Visible Alpha expected. That makes it the 12th consecutive quarter of year-over-year comparable-store sales growth. Analysts expect AutoZone , the largest auto-parts retailer by revenue, to see U.S. same-store sales grow 4.3% in its quarter ending May.

☆ Final Trades: 3M, Exxon, CarMax & more
▼ + stars: | 2023-04-26 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinal Trades: 3M, Exxon, CarMax & moreThe "Halftime Report" traders give their top picks to watch for the second half.

☆ These vulnerable major stocks could be activists' next targets, according to Goldman
▼ + stars: | 2023-04-21 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Shareholder activism could continue its momentum this year, and a number of major companies could be popular targets, according to Goldman Sachs. "Sales growth has been the most important variable in determining an activist target, followed by EV/sales valuation." Goldman screened the Russell 3000 index for companies that may be susceptible to a campaign by an activist investor. Bath & Body Works could experience more action from activists this year, according to Goldman's screen. In the retail space, Goldman also predicts activists may target Best Buy , Burlington Stores and CarMax .

☆ CNBC Daily Open: Signs of a coming storm
▼ + stars: | 2023-04-12 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. "It kind of feels like the calm before the storm," said Ryan Detrick, chief market strategist at the Carson Group. While it's nice to have a calm day or two, investors shouldn't ignore the warning of an impending storm. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ CNBC Daily Open: Signs of a storm coming
▼ + stars: | 2023-04-12 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

☆ Stocks making the biggest moves midday: MongoDB, American Airlines and more
▼ + stars: | 2023-04-12 | by ( Jesse Pound | ) www.cnbc.com time to read: +3 min

Employees of American Airlines help check in passengers at Ronald Reagan Washington National Airport on January 11, 2023 in Arlington, Virginia. Here's a look at some of the stocks making the biggest moves on Wednesday. MongoDB — Shares jumped 9.4% after Morgan Stanley upgraded MongoDB to overweight from equal weight, citing the software company's leadership in cloud optimization initiatives. American Airlines , Delta Air Lines , United Airlines — Shares of the major airline companies were under pressure on Wednesday after American Airlines updated its first-quarter guidance. Shares of American fell more than 9%, while United dropped about 2% and Delta shed nearly 6%.

☆ Wall St ends mixed as inflation data comes into focus
▼ + stars: | 2023-04-11 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

The bellwether S&P 500 ended essentially unchanged. "With huge inflation data tomorrow, Fed minutes coming out soon and earnings right around the corner, traders are taking a wait and see approach to see how the inflation data comes in." Analysts expect aggregate first-quarter S&P 500 earnings falling 5.2% year-on-year, a stark reversal from the 1.4% annual growth seen at the beginning of the quarter. Among the 11 major sectors of the S&P 500, communication services (.SPLRCL) and tech (.SPLRCT) ended in the red, while energy (.SPNY) and financials (.SPSY) enjoyed the largest percentage gains. The S&P 500 posted nine new 52-week highs and no new lows; the Nasdaq Composite recorded 64 new highs and 118 new lows.

☆ CarMax Picks the Profit Lane
▼ + stars: | 2023-04-11 | by ( Jinjoo Lee | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/carmax-picks-the-profit-lane-80288696

☆ S&P 500 edges higher as investors look to CPI
▼ + stars: | 2023-04-11 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

With a lack of market moving catalysts, investors looked ahead to Wednesday's consumer price index (CPI) for any evidence that the long, slow inflation cooldown continues. Beyond CPI, investors are eyeing first-quarter reporting season, which surges from the starting gate this Friday with results from three major banks, Citigroup Inc (C.N), JPMorgan Chase & Co (JPM.N) and Wells Fargo & Co (WFC.N). Analysts expect aggregate first-quarter S&P 500 earnings falling 5.2% year-on-year, a stark reversal from the 1.4% annual growth seen at the beginning of the quarter. Among the 11 major sectors of the S&P 500, energy (.SPNY) and materials (.SPLRCM) were enjoying the biggest percentage gains, while communication services (.SPLRCL) and tech (.SPLRCT) were in the red. The S&P 500 posted eight new 52-week highs and no new lows; the Nasdaq Composite recorded 56 new highs and 86 new lows.

Hopes that the Fed will soon end its aggressive monetary policy tightening campaign spurred a rebound in the S&P 500 this month after the collapse of two U.S. mid-sized lenders sparked a selloff in March. Analysts expect first-quarter profits at S&P 500 companies to fall 5.2% year-on-year, the worst contraction since the third quarter of 2020 and a stark reversal from the 1.4% annual growth forecast at the beginning of the year, according to Refinitiv IBES data. Remarks later on Tuesday from voting members of the Fed's rate-setting committee will be parsed for more clues on the central bank's policy moves. Seven of the 11 major S&P sectors rose, with gains in material (.SPLRCM) and energy (.SPNY) shares offsetting losses in technology (.SPLRCT) stocks. The S&P index recorded six new 52-week highs and no new lows, while the Nasdaq recorded 43 new highs and 72 new lows.

Hopes that the Fed will soon end its aggressive monetary policy tightening have helped the benchmark S&P 500 (.SPX) stabilize so far in April after the collapse of two U.S. mid-sized lenders sparked a selloff last month. This marks a shift in traders' bets of a pause in the Fed's policy tightening after recent weak economic data raised the possibility of a U.S. recession. Data on Wednesday is expected to show consumer prices grew 5.2% in March after a 6.0% rise in February. Analysts expect first-quarter profits at S&P 500 companies to fall 5.2% year-on-year, a stark reversal from the 1.4% annual growth expected at the beginning of the year, according to Refinitiv data. ET, Dow e-minis were up 24 points, or 0.07%, S&P 500 e-minis were up 4.25 points, or 0.10%, and Nasdaq 100 e-minis were down 2.25 points, or 0.02%.

☆ CarMax speeds past quarterly profit estimates on cost cuts
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +1 min

Companies Carmax Inc FollowAutoNation Inc FollowApril 11 (Reuters) - CarMax Inc (KMX.N) on Tuesday posted fourth-quarter profit above analysts' estimates as cost cutting measures helped the pre-owned car retailer soften the blow from a slowdown in demand for vehicles. Demand for used cars was dented over the past year due to higher borrowing costs and soaring commodity and gasoline prices, weighing on CarMax's results. That demand for vehicles and related services helped auto retailer AutoNation Inc (AN.N) post a better-than-expected quarterly profit when it reported earnings in February. CarMax's adjusted fourth-quarter profit came in at 44 cents per share, ahead of Refinitiv IBES estimates of 24 cents per share. Its quarterly revenue came in at $5.72 billion, below analysts' estimates of $6.04 billion, as affordability concerns impacted sales.

Losses in megacap stocks such as Microsoft Corp (MSFT.O) and Amazon.com Inc (AMZN.O) weighed on the tech-heavy Nasdaq, while gains in industrial stocks such as Caterpillar Inc (CAT.N) boosted the Dow. Hopes that the Fed will soon end its aggressive monetary policy tightening helped the S&P 500 stabilize so far in April after the collapse of two U.S. mid-sized lenders sparked a selloff last month. Analysts expect first-quarter profits at S&P 500 companies to fall 5.2% year-on-year, a stark reversal from the 1.4% annual growth expected at the beginning of the year, according to Refinitiv data. Seven of the 11 major S&P sectors rose, with gains in industrial (.SPLRCI) and material (.SPLRCM) shares offsetting losses in technology (.SPLRCT) stocks. The S&P index recorded three new 52-week highs and no new low, while the Nasdaq recorded 32 new highs and 30 new lows.

Search resuls for: "CarMax"

25 mentions found