CarMax Inc. said Thursday that it has decided to stop buying back its stock, as it will take a conservative approach to its finances until the used car market and the economic backdrop improves.
The pause in repurchases comes as the used car seller reported a fiscal third-quarter profit and sales that fell well short of expectations, citing “vehicle affordability challenges.” The stock KMX slumped 7.1% in midday trading, putting it on track for the lowest close since April 2020.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Oh you didn't tell them ? This is not a recession everything is hunky dorry 🤣🤣💯
Cash is now king. Cut prices by 50% and a few buyers will appear.
Let's Go Brandon!!!!
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks making the biggest moves premarket: CarMax, Micron, Under Armour and othersThese are the stocks posting the largest moves before the bell.
Source: CNBC - 🏆 12. / 72 Read more »
STOCK MARKET NEWS: Stocks flat, oil slides, housing starts fallStocks are little changed as investors await earning from FedEx, Nike and Blackberry after the markets close. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
Source: FoxBusiness - 🏆 458. / 53 Read more »
STOCK MARKET NEWS: Stocks finish higher, FedEx accelerates cost reductions, oil gainsStocks snap four-day losing streak, FedEx identifies $3.7B in cost savings. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
Source: FoxBusiness - 🏆 458. / 53 Read more »
Nike stock jumps after earnings and revenue top expectationsNike earnings and revenue top estimates, but inventories and costs rise who can keep buying $150 sneakers designed to last 3 months and make your back hurt? They make them pennies on the dollar and pay handsome fees to sport figures and ad agencies. WS is never fucking happy
Source: CNBC - 🏆 12. / 72 Read more »