AutoNation posted fourth quarter earnings that exceeded analysts’ expectations. The automotive retailer’s adjusted earnings came in at $2.43 a share, well above analysts’ forecast of $2.01 a share. Revenue of $5.79 billion, also beat analysts’ expectations of $5.56 billion. Gross profit per vehicle at AutoNation increased +50% to $2775 from $919, the company said. During the fourth quarter,...

On Friday, CarMax  reported fiscal first-quarter earnings that saw a steep plunge from the year-ago period, on shutdown due to the covid-19 crisis. The retail used-cars company’ net earnings fell to $5 million, or 3 cents a share, from $266.7 million, or $1.59 a share in the year-ago period.  The EPS was also lower than the 4 cents expected by analysts polled by FactSet. Sales declined -40% year-over-year to $3.23 billion, compared to analysts’ expectation of $2.7 billion.Comparable-store used unit sales dropped -42% during the quarter. The overall result also included a $122 million in loan-loss provisions for CarMax’s financing unit.

Its earnings, however, fell short of analysts’ estimates. The used-car retailer ‘s third-quarter revenue increased +11.5% year-over-year to $4.79 billion, exceeding analysts’ estimate of $4.68 billion. Same-store sales climbed +7.5%, beating analysts' expectation of  +6.2% . Strong conversion, bolstered by continued support from third-party lending partners, web traffic growth, and a favorable response to consumer initiatives boosted the results. Used vehicle sales rose +13.6% to $4.03 billion, which is higher than analysts’ estimate of $3.97 billion.

New-age car buying company Carvana (NYSE: CVNA) saw two potential bearish signs over the last few days.The stock has rallied since early February and that is what caused the oscillators to move in to overbought territory. In addition to the bearish stochastics crossover, the Tickeron AI Prediction tool generated a bearish signal on Carvana on February 28.