This story was originally published on WardsAuto. To receive daily news and insights, subscribe to our free daily WardsAuto newsletter. Penske Automotive Group (PAG) on November 19 announced it had acquired two Toyota and two Lexus dealerships, including Longo Toyota, the top Toyota dealership in the United States. Publicly listed PAG acquired the franchises from Penske Motor Group, part of Penske Corp. You might be forgiven for being a bit confused with all the Penskes in that paragraph. But the transa ...

Core Insights - AutoNation, Inc. has acquired Jerry's Toyota, renaming it AutoNation Toyota White Marsh, effective December 8, 2025, marking its first Toyota dealership in Maryland and its 20th nationwide [1][2]. Group 1: Acquisition Details - The acquisition is expected to generate approximately $123 million in annual revenue and includes 2,600 retail new and used vehicle sales annually [2]. - With this acquisition, AutoNation expands its presence in Maryland to 18 locations, which includes 9 premium luxury stores, 3 domestic stores, 3 import stores, and 3 collision centers [2]. Group 2: Strategic Importance - The addition of AutoNation Toyota White Marsh aligns with the company's strategy to enhance its brand portfolio in key markets and create shareholder value [3]. - The acquisition will also bring in 110 new associates, contributing to improved customer service and value delivery [3]. Group 3: Company Overview - AutoNation is one of the largest automotive retailers in the U.S., offering a wide range of new and used vehicles, financing, parts, and maintenance services [3]. - The company has raised over $45 million for cancer-related causes, reflecting its commitment to community engagement and social responsibility [3].

Core Viewpoint - An amended securities class action lawsuit has been filed against CarMax, Inc., expanding the class period to include those who purchased or acquired CarMax securities between June 20, 2025, and November 5, 2025 [1] Group 1: Allegations Against CarMax - The complaint alleges that during the class period, CarMax's defendants made false and misleading statements regarding the company's growth prospects, which were overstated due to temporary benefits from customer purchases driven by tariff speculation [3] - It is claimed that the positive statements made by the defendants about CarMax's business and operations were materially misleading and lacked a reasonable basis throughout the relevant times [3] Group 2: Legal Process and Participation - Investors in CarMax have until January 2, 2026, to seek appointment as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel [4] - A lead plaintiff acts on behalf of all class members in directing the litigation and is typically the investor or small group of investors with the largest financial interest [4] Group 3: Law Firm Background - Kessler Topaz Meltzer & Check, LLP is a prominent U.S. plaintiff-side law firm specializing in securities-fraud class actions and global investor protection, representing both individual and institutional investors [5] - The firm has achieved significant recoveries in securities litigation and has received numerous accolades, including recognition from The National Law Journal and Law360 [5]

SAN FRANCISCO--(BUSINESS WIRE)--National investor rights law firm Hagens Berman reminds investors that the Lead Plaintiff Deadline in the securities class action lawsuit against CarMax, Inc. (NYSE: KMX) – January 2, 2026 – is rapidly approaching. The lawsuit alleges that CarMax and certain of its executives misled investors about the true stability and growth prospects of its core business, leading to two separate and massive stock crashes. Hagens Berman urges investors who suffered substantial. ...

Core Viewpoint - Wall Street anticipates a year-over-year decline in CarMax's earnings due to lower revenues, with a focus on how actual results will compare to estimates [1][3] Earnings Expectations - CarMax is expected to report quarterly earnings of $0.32 per share, reflecting a 60.5% decrease year-over-year [3] - Revenues are projected to be $5.79 billion, down 7% from the same quarter last year [3] Estimate Revisions - The consensus EPS estimate has been revised down by 6.95% over the last 30 days, indicating a reassessment by analysts [4] - A negative Earnings ESP of -17.56% suggests analysts have become bearish on CarMax's earnings prospects [10][11] Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive or negative reading can predict deviations from consensus estimates, but is more reliable for positive readings [7][8] - CarMax's current Zacks Rank is 5, which complicates predictions of an earnings beat [11] Historical Performance - In the last reported quarter, CarMax was expected to earn $1.03 per share but only achieved $0.64, resulting in a surprise of -37.86% [12] - Over the past four quarters, CarMax has beaten consensus EPS estimates twice [13] Conclusion - CarMax does not appear to be a strong candidate for an earnings beat, and investors should consider other factors before making investment decisions [16]

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of CarMax, Inc. regarding a class action lawsuit alleging that the company made materially false and misleading statements about its growth prospects during a specified period [1]. Group 1: Allegations - The complaint claims that CarMax's defendants overstated the company's growth prospects, attributing earlier growth in the 2026 fiscal year to temporary factors related to customer behavior influenced by tariff speculation [1]. - It is alleged that the statements made by the defendants regarding CarMax's business operations and future prospects were materially false and lacked a reasonable basis throughout the relevant time [1]. Group 2: Class Action Details - The class period for the lawsuit is defined as June 20, 2025, to November 5, 2025, and shareholders who purchased shares during this time are encouraged to contact the Gross Law Firm [1]. - The deadline for shareholders to register for the class action and seek lead plaintiff status is January 2, 2026 [2]. Group 3: Firm's Commitment - The Gross Law Firm is recognized nationally for its commitment to protecting investors' rights against deceit and illegal business practices, aiming to ensure companies adhere to responsible business practices [3].

Core Viewpoint - A class action lawsuit has been filed against CarMax, Inc. and certain senior executives for securities fraud following a significant stock drop attributed to potential violations of federal securities laws [1][2]. Group 1: Lawsuit Details - Investors have until January 2, 2026, to request to lead the case, which is pending in the U.S. District Court for the District of Maryland [2]. - The lawsuit asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of CarMax investors [2]. Group 2: Company Performance and Stock Impact - CarMax reported disappointing financial results for Q2 of fiscal year 2026, including a 5.4% decline in retail used unit sales, a 6.3% decline in comparable store used unit sales, and a 2.2% decline in wholesale units [5]. - The company's net income for Q2 was approximately $95.4 million, down from $132.8 million the previous year, attributed to a "pull forward" in demand due to U.S. tariffs [5]. - Following the financial report, CarMax's stock dropped $11.45 per share, or roughly 20%, from $57.05 on September 24, 2025, to $45.60 on September 25, 2025 [6]. - An unexpected departure of CEO Bill Nash on November 6, 2025, and a weak preliminary Q3 outlook led to an additional stock drop of over 24% [6]. Group 3: Company Background - CarMax is a leading retailer of used cars, emphasizing a seamless customer experience and strong demand for its vehicles [3]. - The law firm Bleichmar Fonti & Auld LLP, which is representing the plaintiffs, has a strong track record in securities class actions, having recovered significant amounts from other companies [10].

Asian witnessed weak sentiment in Thursday's trading as markets digested the Fed's widely expected rate cut, the forward guidance for 2026 and beyond, as well as the extent of dissent in the FOMC decision. Though markets turned cautious in the aftermath of the Fed's projection of a single rate cut for 2026, losses were limited by the less-than-expected hawkishness in the Fed's guidance.China's Shanghai Composite Index lost 27 points or 0.70 percent to finish trading at 3,873.32, versus the previous close o ...

Core Viewpoint - The article discusses a securities class action lawsuit against CarMax, Inc. (NYSE: KMX), highlighting the approaching Lead Plaintiff Deadline of January 2, 2026, and urging affected investors to contact the law firm Hagens Berman for potential participation in the case [1][5]. Summary by Sections Lawsuit Allegations - The lawsuit claims that CarMax and its executives misled investors regarding the stability and growth prospects of the business, resulting in significant stock declines of 44% following a disappointing earnings report and the unexpected termination of the CEO [2][4]. Class Period - The class period for the lawsuit is defined as June 20, 2025, to November 5, 2025, during which investors purchased CarMax securities [3]. Key Issues Highlighted - The complaint identifies two main undisclosed issues that allegedly inflated the stock price: - **Unsustainable Demand**: CarMax reportedly misrepresented Q1 2026 growth as being robust while failing to disclose that it was driven by a temporary surge in customer demand due to anticipated tariffs [4]. - **CarMax Auto Finance Risk**: Management assured investors about the stability of their loan reserves, which later revealed a significant increase in loan loss provisions amounting to $142 million, indicating high default risks [4]. Impact on Business - The lawsuit outlines the adverse impacts on CarMax's business, including: - A 24% decline in net EPS and a 40% sequential increase in loan loss provisions announced on September 25, 2025, leading to a 20% drop in stock price [4]. - The CEO's termination and a drastic cut in forward guidance, signaling systemic weaknesses in business operations [4]. Call to Action - Hagens Berman emphasizes the importance of the January 2nd deadline for investors seeking a leadership role in the lawsuit, encouraging those who suffered losses to reach out for assistance [5].

Core Viewpoint - A securities class action lawsuit has been filed against CarMax, Inc. for allegedly making false and misleading statements regarding its growth prospects during the Class Period from June 20, 2025, to November 5, 2025 [1][2]. Summary by Sections Allegations Against CarMax - The complaint claims that CarMax's management overstated the company's growth potential, attributing earlier growth in the 2026 fiscal year to temporary factors related to customer behavior influenced by tariff speculation [2]. - It is alleged that the positive statements made by the defendants about CarMax's business operations and future prospects were materially misleading and lacked a reasonable basis [2]. Lead Plaintiff Process - Investors in CarMax have until January 2, 2026, to apply to be appointed as lead plaintiff representatives in the class action lawsuit [3]. - The lead plaintiff will represent the interests of all class members and will select legal counsel to direct the litigation [3]. Law Firm Background - Kessler Topaz Meltzer & Check, LLP is a prominent law firm specializing in securities-fraud class actions and has a history of significant recoveries in securities litigation [4]. - The firm represents both individual and institutional investors and has received numerous accolades for its work in the field [4].