Group 1 - The FPA Crescent Fund reported a gain of 5.54% in Q3 2025 and 15.32% over the trailing twelve months, with top five performers contributing 6.65% to the return and bottom five detracting 2.58% [1] - CarMax, Inc. (NYSE:KMX) has experienced a one-month return of -7.48% and a 52-week loss of 46.61%, with a market capitalization of $5.993 billion as of November 5, 2025 [2] - The management of CarMax has faced criticism for missteps, including withdrawing 2030 unit sales targets and overbuying inventory, leading to a 47% decline in share price year to date [3] Group 2 - Despite the disappointing management execution, CarMax shares are considered inexpensive, trading at approximately 12x forward consensus earnings and 1.1x tangible book value [3] - Two independent directors purchased shares in early October, indicating potential confidence in the company's future [3] - CarMax has increased its share repurchase program, although there is a preference for delaying repurchases until the market absorbs the current negative news [3]

Core Points - CarMax Inc. shares dropped over 10% in premarket trading following the unexpected resignation of CEO Bill Nash [1] - David McCreight has been appointed as interim CEO, while Tom Folliard takes on the role of interim executive chair [2] - The board aims to enhance sales, profitability, and reduce costs during this transitional period, acknowledging that recent results do not reflect the company's potential [3] Company Performance - CarMax has faced significant challenges this year, with its stock price declining approximately 50% in 2025, contrasting with other car retailers that have seen stock increases [4]

Market Overview - Wall Street experienced losses as influential technology stocks declined, impacting the broader market direction [1][2] - The S&P 500, Dow Jones Industrial Average, and Nasdaq composite are at risk of breaking a three-week winning streak due to these losses [1] Index Performance - The S&P 500 fell by 75.97 points (1.1%) to 6,720.32 [2] - The Dow decreased by 398.70 points (0.8%) to 46,912.30 [2] - The Nasdaq dropped by 445.80 points (1.9%) to 23,053.99 [2] Key Influencing Stocks - Nvidia's stock fell by 3.7%, and Microsoft's decreased by 2%, significantly affecting market direction due to their large market capitalizations [2] - Amazon's stock also declined by 2.9%, contributing to the overall market downturn [2] Corporate Earnings and Forecasts - Corporate earnings and forecasts are a major focus for Wall Street, providing insights into the economy amid limited information due to the government shutdown [3][6] - The ongoing government shutdown has resulted in a lack of broader economic data, including inflation and employment statistics [3][7] Notable Company Movements - DoorDash's stock plummeted by 17.5% after announcing increased spending on product development [4] - CarMax's stock fell by 24.3% following a disappointing financial update and the announcement of CEO Bill Nash's departure [4] - Datadog's stock surged by 23.1% after exceeding analysts' earnings forecasts [4] - Rockwell Automation's stock rose by 2.7% after reporting results that surpassed analysts' expectations [4] Market Sentiment - Concerns about stock overvaluation are growing, particularly for major technology companies that have driven market gains amid advancements in artificial intelligence [5][6] - The current earnings reports are being closely monitored to assess whether the high valuations in the stock market are justified [6]

Core Points - ClaimsFiler reminds investors of the deadline to file lead plaintiff applications in a class action lawsuit against CarMax, Inc. for securities purchased between June 20, 2025, and September 24, 2025 [1] - The lawsuit alleges that CarMax and certain executives failed to disclose material information, violating federal securities laws [3] Financial Performance - CarMax reported a 5.4% decrease in retail unit sales, a 6.3% decrease in comparable store unit sales, and a 2.2% decrease in wholesale units for the second quarter of fiscal year 2026 [3] - Net earnings per diluted share were $0.64, down from $0.85 a year ago [3] Market Reaction - Following the announcement of the financial results, CarMax's share price fell by $11.5, or 20.07%, closing at $45.60 per share on September 25, 2025 [4] Legal Information - The case is titled Cap v. CarMax, Inc., No. 25-cv-03602, and is pending in the United States District Court for the District of Maryland [4]

Fortinet, Inc. ALERT: Kirby McInerney LLP Reminds Fortinet, Inc. Investors of Important Deadline in Class Action Lawsuit Share NEW YORK--(BUSINESS WIRE)--If you have suffered a loss on your Fortinet, Inc. ("Fortinet†or the "Company†) (NASDAQ:FTNT) investment, contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below to discuss your rights or interests in the securities fraud class action lawsuit at no cost. Investors have until November 21, 202 ...

Core Viewpoint - CarMax, Inc. is facing a class action lawsuit due to alleged misrepresentation of its financial health and demand for used cars during the period from March 5, 2024, to October 8, 2025 [1][3] Financial Performance - CarMax reported disappointing financial results for Q2 of fiscal year 2026, with a net income of approximately $95.4 million, down from $132.8 million in the previous year [3] - The company experienced 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 [3] - The decline in sales was attributed to a "pull forward" in demand due to the announcement of U.S. tariffs on cars, which led to customers purchasing vehicles before the tariffs took effect [3] Stock Market Reaction - Following the announcement of disappointing financial results, CarMax's stock price fell by $11.45 per share, approximately 20%, from $57.05 on September 24, 2025, to $45.60 on September 25, 2025 [3] Legal Context - Investors who purchased CarMax securities during the class period have until January 2, 2025, to file a lead plaintiff motion [1] - The Portnoy Law Firm is representing investors in this class action and is offering complimentary case evaluations [2][4]

Core Viewpoint - Rosen Law Firm has filed a class action lawsuit on behalf of CarMax, Inc. investors for securities purchased between June 20, 2025, and September 24, 2025, due to alleged misleading statements regarding the company's growth prospects [1][5]. Group 1: Lawsuit Details - The lawsuit 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 [5]. - Investors are encouraged to join the class action, with the deadline to serve as lead plaintiff set for January 2, 2026 [1][3]. Group 2: Legal Representation - Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a proven track record in securities class actions, highlighting its own success in recovering significant amounts for investors [4]. - The firm has been recognized for its leadership in securities class action settlements, achieving notable recoveries, including over $438 million in 2019 [4].

Market Overview - Australian shares are set for a rebound with futures indicating a +0.76% advance, following a positive trend in Wall Street [1] - The Dow and S&P 500 gained around +0.4%, while the Nasdaq increased nearly +0.7% due to favorable jobs reports [2] Company News - Gold ETFs, such as "GOLD," are up +45% year-to-date despite recent price fluctuations in the gold market [4] - WiseTech Global (ASX:WTC) has warned ASIC about a significant stock sale by its founder [4] - Carma Ltd (ASX:CMA) experienced a -7.4% drop on its first trading day, closing at $2.50 per share [5] - NAB (ASX:NAB) is set to release its full-year results, while Amcor Plc (ASX:AMC) and Light and Wonder (ASX:LNW) are among the companies reporting quarterly results [5] Commodity Prices - The Australian dollar is trading at 65 U.S. cents [6] - Iron Ore prices remain stable at $103.55 per tonne [6] - Brent Crude oil has decreased by -1.4% to $63.54 per barrel [6] - Gold is priced at $3,986 per ounce [6] - U.S. natural gas futures have dropped -2.5% to $4.23 per gigajoule [6]

Core Viewpoint - A class action lawsuit has been filed against CarMax, Inc. for allegedly misleading investors about its growth prospects during the fiscal year 2026, following disappointing financial results that led to a significant drop in stock price [1][2][3]. Group 1: Allegations and Financial Impact - CarMax's stock price fell by $11.5 per share, or 20.07%, closing at $45.60 on September 25, 2025, after the company reported disappointing second-quarter results for fiscal year 2026 [2]. - The following day, the stock experienced an additional decline of 1.62%, closing at $44.86 [2]. - Plaintiffs claim that CarMax overstated its growth prospects, attributing earlier growth to temporary factors such as customer speculation regarding tariffs [3]. Group 2: Class Action Participation - Shareholders interested in serving as lead plaintiffs must submit their papers to the court by January 2, 2026 [4]. - Participation in the class action is not required to be eligible for recovery; shareholders can remain absent class members if they choose [4]. Group 3: Legal Representation - Robbins LLP operates on a contingency fee basis, meaning shareholders incur no fees or expenses unless the case is won [5].

Core Viewpoint - The Law Offices of Frank R. Cruz is encouraging shareholders of CarMax, Inc. (KMX) to inquire about a potential securities fraud class action lawsuit [1] Group 1 - The law firm is actively seeking shareholders who may have been affected by the alleged securities fraud [1] - The announcement indicates a growing concern regarding the company's financial practices and transparency [1] - Shareholders are urged to gather information and consider their legal options in light of the potential class action [1]