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CarMax Jumps Midday as Results Impress

Investing.com - Lyft (NASDAQ:LYFT) wasn’t the only auto-related stock making waves Friday as shares of CarMax jumped sharply midday.

Shares of used care retailer CarMax (NYSE:KMX) surged 9.5%, while the S&P 500 consumer discretionary index was flat.

The stock reached new highs for the year.

CarMax rose after reporting earnings that topped expectations before the bell and also said comparable-store sales were fairly strong.

The company earned $1.13 per share in its fiscal fourth quarter, topping the analysts’ consensus estimate of $1.05 per share compiled by Investing.com.

Revenue of $4.32 billion was a little short of forecasts, but unit comparable-store sales rose 2.8% in the quarter.

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