Michael Kors slashed, Tekmira reverses, AutoNation revs higher

AutoNation (AN): The largest U.S. new-vehicle retailer popping after it posted its best July sales numbers in eight years, selling 27,484 new vehicles during the month. July sales represented an eight percent increase over a year earlier, suggesting pent up demand for autos in the country hasn't been met. In addition, premium luxury vehicles showed the strongest growth in the month, climbing 17% to 5,113 vehicles. Strong sales for U.S autos continues despite a U.S. consumer at the lower end that still only showing stubborn signs of growth.

Tekmira Pharmaceuticals (TKMR): The biotech company's shares are surging on hopes that trials on the company's Ebola treatment will be jumpstarted. Earlier this year the FDA placed a clinical 'hold' on the company's TKM-Ebola Phase 1 healthy volunteer study. However, over the weekend Reuters reported that the FDA "stands ready" to work with companies developing Ebola treatments, meaning Tekmira may be able to initiate a new study. Just this past weekend, the first of two U.S. citizens who contracted Ebola in Africa arrived back stateside; the other health worker is slated to come back sometime this week.

UPDATE: Tekmira reversed lower on reports that smaller biotech companies, specifically MAPP Biopharmaceutical, has an existing Ebola treatment.

Michael Kors (KORS): The luxury goods maker surprisingly sliding despite reporting a profit beat of 91 cents per share, beating estimates by 10 cents, and also a strong revenue beat powered by a 24.2 percent increase in same-store sales. So what's weighing on the shares? The company’s forecast for diluted EPS in the range of 85 cents to 87 cents versus the Street’s call for 89 cents. We saw this last week with Buffalo Wild Wings; growth companies that are serial sandbaggers are suddenly being taken at face value and seeing their stocks get crushed. Whether or not this is an opportunity remains to be seen but for now anyway fashionable growth companies are seeing gauche stock drops.

More from Breakout:

4 lessons from Warren Buffett's biggest quarter ever

Why China, not the U.S., is the audience Hollywood want

PIMCO’s Gross: Jobs data shows U.S. workers are underpaid

View Comments (9)

Recommended for You

  • U.S. Black Friday shopping marked by thinner crowds, protests

    By Nandita Bose and Nathan Layne WEST HARTFORD, Conn./CHICAGO (Reuters) - Mall crowds were relatively thin on Black Friday in a sign of what has become the new normal in U.S. holiday shopping: the mad rush is happening the night of Thanksgiving and more consumers are picking up deals online. Across…

  • Play

    Protests temporarily close malls, shut down trains

    FERGUSON, Mo. (AP) — Demonstrators temporarily shut down three large malls in suburban St. Louis on one of the busiest shopping days of the year Friday, as other rallies were held nationwide to protest a grand jury's recent decision not to indict the police officer who fatally shot 18-year-old…

    Associated Press38 mins ago
  • Ken Lewis Selling South Carolina Island Getaway at a Loss

    Nov. 28 (Bloomberg) -- Kenneth D. Lewis, who retired as Bank of America’s chief executive officer after the housing crisis almost toppled the firm, is selling a South Carolina island home for less than ...

  • As energy shares tumble, opportunity lurks

    NEW YORK (Reuters) - Shale stocks have been hard-hit as investors see margins all but evaporating following the slide in crude oil prices, but the U.S. shale energy boom is not over.

  • Play

    Expect oil glut, US shale bankruptcies: Analyst

    Neil Beveridge, Senior Oil Analyst at Sanford C. Bernstein, says OPEC's decision not to cut output is triggering a glut of supply and may result in bankruptcy for U.S. shale producers.

    CNBC Videos
  • No One Should Have This Card In Their Wallet

    Deciding which cards deserve a coveted spot in...

    Business Insider
  • Will the US give the Dutch their gold back?

    Dennis Gartman has questioned whether the Dutch repatriation of their gold reserves will damage the U.S.'s reputation.

  • How I Beat Sallie Mae in Court ... 4 Times

    After defaulting on her private student loans due to unemployment, a New York woman was sued by Sallie Mae four times. She won, but she's not satisfied.

  • BMW Heiress Buys $435 Million Stake in Frankfurt Skyline

    Susanne Klatten, Germany ’s richest woman, has staked a claim in Frankfurt’s growing skyline. Klatten, 52, who owns about 12 percent of luxury carmaker Bayerische Motoren Werke AG, bought the Winx office ...

  • Here Comes $60 Oil as OPEC Tests U.S. Shale

    OPEC's decision not to try and eliminate an oil-supply glut means the biggest crash in six years won't stop until prices reach $60 a barrel, according to firms including Nomura Holdings Inc. and Deutsche ...

  • Billions wiped off energy shares as investors rush for exit

    LONDON (Reuters) - A fresh slide in the price of crude wiped tens of billions of dollars off oil companies' market value on Friday and signalled an end to the sector's safe-haven status, as fears mounted over future profits and dividend payouts.

  • OPEC’s challenge to U.S. sends tremors through markets

    Stocks jump in Asia as markets price in lower fuel bills, while Russia's currency hits new all-time lows.

  • OPEC Tells US To Pull Back. Airlines Cheer, Energies Tear

    Conspiracy theory has it that the U.S. and Saudi Arabia are working together to pull oil prices down to punish Russia. No, that is not how Goldman Sachs see it - at least not paper. The investment bankhad ...

  • Venezuela Burns Through Third of New Chinese Money in a Week

    Venezuela’s international reserves declined $1.3 billion in the week after President Nicolas Maduro transfered $4 billion of Chinese loans to the central bank. The country’s reserves dropped to $22.2 billion ...

  • Argentina: scandal widens over Swiss bank accounts

    Argentina's tax agency says the country's top cable TV operator, a former professional soccer player and a lawmaker are among the owners of some 4,000 secret Swiss bank accounts used to evade taxes. The ...

    Associated Press
  • Some in US illegally could get retirement benefits

    WASHINGTON (AP) — Many immigrants in the United States illegally who apply for work permits under President Barack Obama's new executive actions would be eligible for Social Security and Medicare benefits upon reaching retirement age, according to the White House.

    Associated Press
  • Will OPEC bankrupt US shale producers?

    The OPEC's contentious decision to keep its production target, leaving the market with a supply glut, could trigger a wave of debt defaults by U.S. shale oil producers, warn analysts.

  • Swiss gold vote nears amid '6,000-year bubble' warning

    With Switzerland edging towards an important referendum on its gold holdings, high profile critics and advocates have added their voices to the argument.