U.S. Markets open in 5 hrs 40 mins

Wall Street Declines Tuesday

U.S. stocks were in the red on Tuesday. The Dow Jones Industrial Average fell 0.53% to 26,807, the S&P 500 index declined 0.84% to 2,966 and the Nasdaq Composite index slid 1.46% to 7,993.

Shares of CarMax Inc. (NYSE:KMX) fell 0.18% on Tuesday after announcing second-quarter results. The company posted earnings of $1.40 per share on $5.2 billion in revenue. It beat earnings estimates by 7 cents and revenue expectations by $140 million

"CarMax posted solid second quarter results, and our double-digit increase in earnings per share reflected growth across our used, wholesale and CAF operations, along with ongoing share repurchases," said Bill Nash, president and CEO.

Further, the total gross profit rose 6.6% versus last year's second quarter to $693.5 million.

The used vehicle gross profit increased 6.4% and the used vehicle gross profit per unit was stable at $2,183. The wholesale vehicle gross profit rose 5.7% and other gross profit increased 8.2%, due to better other sales and revenues.

Moreover, the company repurchased 1.5 million shares of common stock for $128.3 million, and still has $1.78 billion available.

During the quarter ended June 30, John Rogers (Trades, Portfolio) boosted his holding 0.08% to 417,221 shares. PRIMECAP Management (Trades, Portfolio) reduced its position by 0.04% to 11,264,428 shares.


? Intuitive Surgical Inc. (NASDAQ:ISRG) +2.56%

? HanesBrands Inc. (NYSE:HBI) +2.27%

? American Water Works Company Inc. (NYSE:AWK) +1.87%

? DTE Energy Co. (NYSE:DTE) +1.67%


? Marathon Oil Corp. (NYSE:MRO) -6.72%

? Helmerich and Payne Inc. (NYSE:HP) -5.93%

? Halliburton Co. (NYSE:HAL) -5.43%

? Cimarex Energy Co. (NYSE:XEC) -5.14%

? National Oilwell Varco Inc. (NYSE:NOV) -4.98%

Global markets

The main European stock markets traded mostly in the red. The U.K.'s FTSE 100 retreated 0.47%, France's CAC 40 declined 0.04%, Germany's Dax swelled 0.29% and Spain's IBEX 35 gained 0.27%.

In Asia, Japan's Nikkei 225 rose 0.09%, India's BSE Sensex climbed 0.02%, Hong Kong's Hang Seng jumped 0.22% and China's Shanghai Composite increased 0.28%.

Disclosure: The author holds no positions in any stocks mentioned.

Read more here:

Wall Street Turns Red on Friday

US Markets Green on Thursday

US Market Jumps on Tuesday, Oil Prices Tumble

Not a Premium Member of GuruFocus? Sign up for a free 7-day trial here.

This article first appeared on GuruFocus.