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☆ GM reports best U.S. quarterly sales since 2020
▼ + stars: | 2024-07-02 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

The Detroit automaker on Tuesday reported sales of 696,086 for the second quarter, up 0.6% from a year earlier and its highest quarterly units sold since the fourth quarter of 2020. Still, EVs made up only 3.2% of its total second-quarter sales. Sales of GM's full-size pickup trucks were roughly 229,000 during the second quarter, up about 6% from a year earlier and the best quarterly sales since 2021. GM's second-quarter sales are expected to slightly outpace the overall industry. Kia, which reports sales on a monthly basis, reported a 6.5% decrease in its June sales.

Persons: EVs, Edmunds, CDK, Jessica Caldwell, Caldwell Organizations: DETROIT —, Motors, Detroit, Auto, Cox Automotive, CDK, GM, Asbury Automotive Group, AutoNation Inc, Inc, Lithia Motors Inc, Sonic Automotive Inc, Automotive News, Toyota, Hyundai, Kia Locations: Lincolnwood , Illinois, DETROIT, North America

☆ These are the 3 key things that will impact the stock market in the week ahead
▼ + stars: | 2023-07-15 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

A lot was riding on these important measures of inflation after the scorching-hot ADP jobs report last week. Here are 3 things you need to know for the week ahead: 1. Industrial production and capacity utilization, also out Tuesday, shines a light on manufacturing, which attributes about 12% to U.S. GDP. Six months is generally considered to represent a balance between supply and demand in the housing market. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, Morgan Stanley, Johnson, Jeff Miller, Lockheed Martin, Charles Schwab, JB Hunt, Goldman, Baker Hughes, Ally, Kinder Morgan, Zions, Philip Morris, Abbott, ABT, Jim Cramer's, Jim Cramer, Jim, Scott Olson Organizations: Nasdaq, Dow Jones Industrial, Housing, CPI, Halliburton, HAL, Johnson, of America Corp, Lockheed, Lockheed Martin Corp, Novartis International AG, PNC Financial Services Group, Inc, PNC, Charles Schwab Corp, Bank of New York Mellon Corporation, BK, Synchrony, Interactive, Goldman Sachs Group, U.S . Bancorp, ASML, Citizens Financial, T Bank Corp, Northern Trust Corporation, Horizon National Corp, Business Machines Corp, IBM, United Airlines, Netflix, Steel Dynamics, Alcoa, Discover Financial Services, Crown, International Corp, Equifax Inc, Las Vegas Sands Corp, Liberty Energy Inc, Philip Morris International Inc, Taiwan Semiconductor Manufacturing Company, American Airlines Group Inc, Travelers Companies, SAP, Nokia Corp, Truist Financial Corporation, Company, McLennan Companies, Infosys Technologies Ltd, Newmont Mining Corp, Fifth Third Bancorp, Pool Corporation, Alfa Laval, Webster Financial Corp, Blackstone, Financial Corp, PPG Industries, CSX Corp, CSX, Berkley Corp, Swift Transportation Holdings Inc, American Express Co, AutoNation Inc, Interpublic, of Companies, Autoliv Inc, Huntington Bancshares, Financial Corporation, Roper Technologies, Comerica, Jim Cramer's Charitable, CNBC, Getty Locations: U.S, Las, ZION, Horton, Freeport, Marsh, ALFVY, W.R, Lemont , Illinois

☆ AutoNation quarterly revenue skids on cooling used-vehicle demand
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +1 min

April 20 (Reuters) - Auto retailer AutoNation Inc (AN.N) on Thursday missed Wall Street estimates for first-quarter revenue as higher new vehicle and after-sales demand was offset by weakness in used vehicle and customer financial service businesses. Rival Lithia Motors, which last year became the largest U.S. auto dealer group by sales volume, also fell short of Wall Street estimates earlier in the week. Sales at the AutoNation unit that sells new vehicles rose to $2.93 billion from $2.81 billion a year earlier. Used vehicle revenue decreased 21%. Total sales, however, fell to about $6.4 billion, compared with Refinitiv estimates of $6.63 billion.

☆ Wall St Week Ahead Consumer stocks' earnings may offer clues on U.S. economy’s resilience
▼ + stars: | 2023-04-14 | by ( David Randall | ) www.reuters.com time to read: +5 min

Companies in the consumer discretionary spending sector reporting next week include Tesla Inc (TSLA.O), Netflix Inc (NFLX.O) and AutoNation Inc (AN.N). Reuters GraphicsGrowing recession fears over the last year have already prompted many consumer discretionary companies to cut costs to boost margins, which may lead to positive earnings surprises this quarter, Melson said. Part of that expected growth comes from a job market that has remained robust, helping buoy consumer spending, said Jamie Cox, managing partner for Harris Financial Group. Meanwhile, U.S. consumer sentiment inched up in April, but households expected inflation to rise over the next 12 months. Sandy Villere, a portfolio manager at Villere & Co, has winnowed his holdings of consumer discretionary stocks in anticipation of a recession later this year.

☆ 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.

☆ Used-car retailer CarMax posts plunge in profit, pauses share buyback
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +1 min

Dec 22 (Reuters) - CarMax Inc (KMX.N) on Thursday reported an 86% drop in quarterly profit and the largest U.S. used car retailer announced it was cutting expenses and pausing stock buybacks, as rising interest rates sap consumer confidence. The auto retail industry has been facing the brunt of consistent rate hikes and weakening consumer confidence. "We believe vehicle affordability challenges continued to impact our third-quarter unit sales performance, as headwinds remain due to widespread inflationary pressures, climbing interest rates, and low consumer confidence," CarMax said on Thursday. CarMax reported net income of 24 cents per share for the quarter through November, compared with expectations of 70 cents, as per Refinitiv data. Reporting by Priyamvada C and Kannaki Deka in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ CarMax results fall short as inflation-hit buyers rethink purchases
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +2 min

Sept 29 (Reuters) - Shares of CarMax Inc (KMX.N) fell 20% in premarket trading on Thursday after the top U.S. used-car retailer's second-quarter results were slammed by the impact of rising inflation on consumer spending. Strong demand for personal transport has led to steady sales of both new and used cars in the United States so far, but rising interest rates and higher car prices are starting to upend that trend. Register now for FREE unlimited access to Reuters.com RegisterAuto research firm Cox Automotive, which tracks U.S. vehicle market trends, on Wednesday cut its forecast for new and used vehicle sales on worsening consumer sentiment. Consumers are pulling themselves out of the purchase process as rising interest rates and high vehicle prices make monthly payments unaffordable, said Cox Automotive Chief Economist Jonathan Smoke. Ford Motor Co's (F.N) shares tumbled last week after the automaker said it was experiencing higher inflationary pressures.

☆ Câte MILIOANE de DOLARI a primit Melinda Gates la o zi după divorțul cu Bill Gates
▼ + stars: | 2021-05-06 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +1 min

O companie de investiții fondată de Bill Gates din profiturile de la Microsoft a transferat acțiuni în valoare de peste 1,8 miliarde de dolari către Melinda Gates la o zi după anunțul divorțului dintre cei doi, potrivit site-ului Bloomberg, citează digi24.ro. Cascade Investment i-a transferat, de asemenea, 2,94 de milioane de acțiuni la AutoNation Inc., în valoare de 309 milioane de dolari. Prin Cascade Investment, Bill Gates investește în imobiliare, energie și Horeca și deține acțiuni la zeci de companii publice, printre care Deere & Co. sau Republic Services Inc.De asemenea, Bill și Melinda Gates se numără printre cei mai mari deținători de terenuri din SUA. Bill şi Melinda Gates au anunţat pe 3 mai că vor divorţa, după 27 de ani de căsnicie. Cei doi vor continua să colaboreze în cadrul Fundaţiei Bill şi Melinda Gates.

Persons: Bill Gates, Melinda Gates, . Melinda Gates, Bill, Gates, Melinda Gates . Organizations: Microsoft, Canadian National Railway Co, Cascade, AutoNation, Republic Services Locations: AutoNation Inc, Cascade Investment, SUA

Cascade Investment, o companie fondată de Bill Gates din profiturile de la Microsoft, a transferat acțiuni în valoare de peste 1,8 miliarde de dolari către Melinda Gates la o zi după anunțul divorțului dintre cei doi, potrivit site-ului Bloomberg. Melinda Gates deține acum 14,1 milioane de acțiuni la Canadian National Railway Co., în valoare de aproximativ 1,5 miliarde de dolari, potrivit datelor Comisiei de Valori Mobiliare și schimb, valabile la 3 mai. Cascade Investment i-a transferat, de asemenea, 2,94 de milioane de acțiuni la AutoNation Inc., în valoare de 309 milioane de dolari. Bill şi Melinda Gates au anunţat pe 3 mai că vor divorţa, după 27 de ani de căsnicie. Cei doi vor continua să colaboreze în cadrul Fundaţiei Bill şi Melinda Gates.

Persons: Bill Gates, Melinda Gates, Bill, Gates, Melinda Gates . Organizations: Microsoft, Canadian National Railway Co, Cascade, AutoNation, Republic Services Locations: Cascade Investment, AutoNation Inc, SUA

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