Thursday, December 21, 2006

Satellite Radio: Get With The Program...Pre-Owned Cars Is Where It's Happening!

CarMax Blows Past Wall Street Forecasts
By Will Swarts, Smart Money, December 20, 2006

The NewsCarMax investors were in the driver's seat Wednesday after the used-car vendor ran over Wall Street's earnings estimates. Shares closed up 9% after peaking at a 52-week high of $55.20 earlier in the session.
The Richmond, Va.-based company, which runs 74 stores in 22 states, mostly in the South and West, reported fiscal third-quarter earnings of 42 cents a share, up from 22 cents a year ago. Analysts expected the company to earn 25 cents a share for the three months ended Nov. 30, according to earnings tracker Thomson Financial.
CarMax, which doesn't issue quarterly guidance, said it now expects to earn $1.75 to $1.85 a share for its fiscal year ending Feb. 20, up from an earlier estimate of $1.55 to $1.65 a share. Wall Street analysts expected full-year earnings of $1.64....read more: here