CarMax Earnings Fall, Stock Up on Outlook
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CarMax Inc.  on Friday posted lower quarterly profit, but the used-car retailer said its sales have been steadily improving, sending its shares up as much as 14 percent.
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The company said fourth-quarter earnings fell from year-ago results that included a one-time gain. But adjusted profit exceeded expectations on Wall Street, driven by higher sales.
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Stocks dropped yesterday as Colgate-Palmolive and Unilever cut profit forecasts, fueling concern that earnings growth is slowing at a time when borrowing costs are headed higher.
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European equities fell on Tuesday as gains for carmakers and other auto-sector stocks were offset by losses in the oil, mining and utilities sectors.
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A bullish profit outlook from Ford Motor Co. sent stocks higher Friday as investors looked past a disappointing report on consumer sentiment and new accounting problems at Qualcomm Inc.
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TORONTO (CP) - Stock markets rose Friday morning, helped by improved profit guidance from Ford Motor Co., while indications of tame inflation and low interest rates sent the Canadian dollar tumbling.
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General Motors Corp., the world's biggest automaker, said Wednesday its net income fell 37 percent in the fourth quarter, led downward in part by continued struggles at its European operations. But the results beat Wall Street expectations and its shares rose nearly 2 percent.
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Ford Motor Co. (FN: Quote, Profile, Research) reported a stronger-than-expected quarterly profit on Tuesday, but losses widened in its core automotive business
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Stocks fell sharply on Wednesday after  oil prices climbed above $48 a barrel and investment bank  Morgan Stanley MWD.N reported a decline in quarterly profit,  stirring concern about corporate earnings.
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Dow Chemical Co  said on Tuesday that fourth-quarter earnings fell, hurt by weak U.S. housing and auto markets, spiraling energy and raw material costs, and one-time restructuring charges.
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Stocks declined on Monday as oil  prices spiked higher and companies like consumer goods giant  Colgate-Palmolive warned on earnings, stirring investor worry  about corporate profits.
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Stocks rose on  Friday after Ford  Motor Co. F.N raised its earnings forecasts, but Qualcomm  Inc. QCOM.O limited advances on the Nasdaq after the wireless  technology provider said an accounting review may reduce its  pretax income and revenue.
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NEW YORK - A bullish profit outlook from Ford Motor Co. sent stocks higher Friday as investors looked past a disappointing report on consumer sentiment and new accounting problems at Qualcomm Inc...
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Hertz Global Holdings posted a 51 percent increase in quarterly profit yesterday, supported by increased car rental revenue, but shares fell nearly 2 percent on a cautious outlook for equipment rentals.
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Stocks fell on Thursday, on a handful of disappointing earnings reports, including results from cable TV operator Comcast Corp , and on uncertainty over how badly the financial sector will be affected by the credit crisis.
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U.S. blue chips advanced on Friday after Ford Motor Co.  raised its earnings forecasts, while wireless technology provider Qualcomm Inc.  limited gains on the Nasdaq after saying an accounting review may reduce pretax income.
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U.S. stock futures drifted lower on Thursday, pointing to a weak open on Wall Street, as automaker General Motors Corp.  posted earnings below Street estimates and a government report showed initial claims for U.S. jobless aid rose more than expected.