CarMax 's (NYSE: KMX) summer started off well, with impressive stock performance despite a quarterly earnings report that, at least initially, wasn't well received. After analysts piled in with a clutch of price target raises and even a recommendation upgrade, the vehicle retailer's stock started heading north again. A series of insider buys also lifted confidence in the stock, and it exited June ...
CarMax 's (NYSE: KMX) summer started off well, with impressive stock performance despite a quarterly earnings report that, at least initially, wasn't well received. After analysts piled in with a clutch of price target raises and even a recommendation upgrade, the vehicle retailer's stock started heading north again. A series of insider buys also lifted confidence in the stock, and it exited June up by almost 19%. That earnings release was published on June 17, and, at least outwardly, CarMax did well against expectations. Net revenue was just over $8 billion in its first quarter of fiscal 2027, for a year-over-year gain of 6%. Net income under generally accepted accounting principles (GAAP) fell by 12%, however, to $186 million, or $1.31 per share. Image source: Getty Images. Continue reading
Sean Gallup/Getty Images News Shares of Levi Strauss & Co. ( LEVI ) are under pressure in Wednesday’s after-hours trading as a top- and bottom-line beat in the second quarter was overshadowed by the company’s conservative outlook for the fiscal year that continued to reflect significant headwinds from import tariffs. “[Second quarter results] translated into higher profitability through gross marg...
Sean Gallup/Getty Images News Shares of Levi Strauss & Co. ( LEVI ) are under pressure in Wednesday’s after-hours trading as a top- and bottom-line beat in the second quarter was overshadowed by the company’s conservative outlook for the fiscal year that continued to reflect significant headwinds from import tariffs. “[Second quarter results] translated into higher profitability through gross margin expansion and disciplined SG&A leverage, demonstrating the strength and scalability of our operating model. Given our strong first-half results, we are passing through our full Q2 beat and raising our full-year guidance,” Levi CFO Harmit Singh said. As the company pivots to a direct-to-consumer-focused business model, an 11% increase in DTC sales and solid gains in U.S., Europe, and Asian sales contributed to $1.56B in total revenue, an increase of 7.6% year-over-year and $80M better than expected. Wholesale sales were up 5%. The company’s bottom-line improved as well, with adjusted net income increasing 24% to $110M, or $0.28 per share, 4 cents above expectations. Adjusted EBIT rose 18% to $141M (versus $135.7M). As tariffs and foreign exchange headwinds were more than offset by lower product costs and targeted price increases, Levi’s ( LEVI ) gross margin expanded by 10 basis points to a better-than-expected 62.7%. Looking ahead to the remainder of 2026, Levi’s ( LEVI ) outlook left investors disappointed that Q2 results did not lead to a larger upward revision. In addition, the company warned that 2026 guidance assumes U.S. tariffs on imports from China remain at 30% and 20% for rest-of-world. Under these assumptions, Levi’s ( LEVI ) now expects reported revenue to increase by 7.0% to 7.5% versus a prior outlook for revenue to increase by 5.5% to 6.5%. This new outlook translates into a range of $6.72B and $6.75B with a $6.735B midpoint that compares to $6.70B estimates. FY26 earnings are now expected to be within a range of $1.46 and $1.52 versus a prior range of $1....
Key PointsState Street SPDR Portfolio Long Term Corporate Bond ETF offers a significantly lower expense ratio and higher trailing dividend yield than iShares 20+ Year Treasury Bond ETF.
Key PointsState Street SPDR Portfolio Long Term Corporate Bond ETF offers a significantly lower expense ratio and higher trailing dividend yield than iShares 20+ Year Treasury Bond ETF.
MDA Space Ltd. ( MDA ) announced on Wednesday a firm offer to acquire a ~70% stake in Collecte Localisation Satellites (CLS), a provider of AI-driven Earth observation services and satellite IoT solutions. The transaction values MDA Space’s stake at €567M (C$920M) in cash, while CNES, the French space agency, will retain an approximately 30% interest in CLS. CLS serves more than 14K customers acro...
MDA Space Ltd. ( MDA ) announced on Wednesday a firm offer to acquire a ~70% stake in Collecte Localisation Satellites (CLS), a provider of AI-driven Earth observation services and satellite IoT solutions. The transaction values MDA Space’s stake at €567M (C$920M) in cash, while CNES, the French space agency, will retain an approximately 30% interest in CLS. CLS serves more than 14K customers across approximately 150 countries and is expected to generate approximately €286M (C$465M) in revenue in 2026. The company said this acquisition will create a vertically integrated geospatial services business by combining its satellite and observation capabilities with CLS’s AI-driven analytics, connectivity solutions, and data services. The company expects the deal to be accretive to adjusted EBITDA and adjusted EPS within the first year of ownership and double its recurring revenue stream. CLS’s expected 2026 adjusted EBITDA margins are in line with MDA Space’s 2026 outlook of 18% to 20%. To support the acquisition, the company also announced a bought deal offering of 20M common shares at $35.60 per share, generating gross proceeds of approximately $712M. The underwriters have an option to purchase up to an additional 15% of common shares issued in the offering within 30 days after closing. Moreover, the net proceeds from the offering will be used to fund a portion of the purchase price for the CLS acquisition, potential repayment of CLS debt, and related transaction expenses. The share offering is expected to close on or about July 14, 2026, while the CLS acquisition is expected to close by the end of 2026 or early 2027, subject to required approvals and procedures. More on MDA Space Ltd. MDA Space: No FOMO But Also Not A Buy Yet MDA Space Ltd. (MDA:CA) MDA Space Ltd. - M&A Call - Slideshow MDA Space Ltd. (MDA:CA) M&A Call Transcript MDA Space bags $688M Canadian Space Agency satellite contract MDA unit secures U.S. Air Force contract renewal worth up to $43M
August WTI crude oil (CLQ26 ) on Wednesday closed up +3.08 (+4.37%), and August RBOB gasoline (RBQ26 ) closed up +0.1495 (+5.06%). Crude oil and gasoline prices settled sharply higher on Wednesday, with crude rising to a 2-week high and gasoline climbing to a 1-month high. Crude prices are soaring...
August WTI crude oil (CLQ26 ) on Wednesday closed up +3.08 (+4.37%), and August RBOB gasoline (RBQ26 ) closed up +0.1495 (+5.06%). Crude oil and gasoline prices settled sharply higher on Wednesday, with crude rising to a 2-week high and gasoline climbing to a 1-month high. Crude prices are soaring...
August Nymex natural gas (NGQ26 ) on Wednesday closed down -0.053 (-1.62%). Nat-gas prices on Wednesday fell from a 1.5-week high and settled lower on the outlook for a larger-than-normal increase in weekly US domestic stockpiles, which are already above the five-year average. The consensus is that Thursday’s weekly EIA...
August Nymex natural gas (NGQ26 ) on Wednesday closed down -0.053 (-1.62%). Nat-gas prices on Wednesday fell from a 1.5-week high and settled lower on the outlook for a larger-than-normal increase in weekly US domestic stockpiles, which are already above the five-year average. The consensus is that Thursday’s weekly EIA...
Win McNamee/Getty Images News U.S. forces launched another round of military strikes against Iran Wednesday afternoon in retaliation for Tehran's attacks on commercial ships around the Strait of Hormuz, according to U.S. Central Command. CENTCOM announced the strikes in a social media post, stating that "the United States is holding Iran accountable for recent unjustified aggression against commer...
Win McNamee/Getty Images News U.S. forces launched another round of military strikes against Iran Wednesday afternoon in retaliation for Tehran's attacks on commercial ships around the Strait of Hormuz, according to U.S. Central Command. CENTCOM announced the strikes in a social media post, stating that "the United States is holding Iran accountable for recent unjustified aggression against commercial shipping and civilian crews freely navigating a vital international waterway." The military action came just hours after President Donald Trump declared the U.S. ceasefire agreement with Iran "over" in response to renewed hostilities in the strategic strait. Trump also indicated he may no longer be interested in pursuing negotiations with Tehran. Earlier, the president warned of further escalation , saying he may order additional military attacks and could potentially reinstate a naval blockade on Iran's ports. Dear readers : We recognize that politics often intersects with the financial news of the day, so we invite you to click here to join the separate political discussion. More on United States Oil Fund LP ETF, United States Brent Oil Fund LP ETF, etc. Markets Trade Lower And Crude Oil Spikes Time-To-Stress In Oil Inventories Still In Weeks, If Hormuz Closes Again U.S. April Oil Production: Another Record High Trump says he's not sure he still wants a deal with Iran U.S.-Iran escalation puts defense stocks in focus as ATI leads Quant rankings
baranozdemir/iStock via Getty Images Agnico Eagle Mines Limited ( AEM ) stock continues sliding and is on track to erase all of the gains made since mid-last year. For the past 12-month period, the stock is still up by 28%, but that's now very close to the return of the SPDR Gold Shares ETF ( GLD ), which tracks the price of gold ( XAUUSD:CUR ). AEM is without a doubt one of the highest quality la...
baranozdemir/iStock via Getty Images Agnico Eagle Mines Limited ( AEM ) stock continues sliding and is on track to erase all of the gains made since mid-last year. For the past 12-month period, the stock is still up by 28%, but that's now very close to the return of the SPDR Gold Shares ETF ( GLD ), which tracks the price of gold ( XAUUSD:CUR ). AEM is without a doubt one of the highest quality large cap gold mining stocks, if not the highest, but over the past year it has significantly underperformed its two major peers - Newmont ( NEM ) and Barrick ( B ). I warned investors about the risks of investing in AEM in August of last year when the stock was trading at exceptionally high multiples. As investors continued buying without paying much attention to the valuation, AEM's sales multiple peaked earlier this year at levels above 10. In a matter of months, this prohibitively high multiple has now compressed to below 6, which is still nearly twice that of both NEM and B , but it makes it worth revisiting the AEM thesis in light of the somewhat more sensible pricing. How Far Is Too Far? With AEM's share price falling sharply in recent months and its valuation multiples quickly returning to more normal levels, the key question for investors is whether the market has become irrational due to short-term events or if this is just the beginning of a more sustained movement. Based on trading volumes, AEM's recent peak at around $250 was unsustainable. As we could see on the graph below, the sharp share price movement in early 2026 was accompanied by relatively low trading volumes, which indicated low investors' confidence in that movement. Actual business fundamentals, however, tell a different story. Operating margins and price/sales multiples usually exhibit strong relationships over the long run as long as there are no other major factors at play. Thus, as AEM's margins are now at record highs, the sharp multiple contraction seems illogical. This could be explained by in...
SpaceXAI on Wednesday launched the Grok 4.5 AI model, calling it the company's most intelligent offering to date designed for coding and agentic tasks. Here are some details: • SpaceXAI said Grok 4.5 was trained across tens of thousands of Nvidia GB300 graphics processing units, with a focus on meticulous data filtering, deduplication and quality scoring. "We've partnered with SpaceXAI to train...
SpaceXAI on Wednesday launched the Grok 4.5 AI model, calling it the company's most intelligent offering to date designed for coding and agentic tasks. Here are some details: • SpaceXAI said Grok 4.5 was trained across tens of thousands of Nvidia GB300 graphics processing units, with a focus on meticulous data filtering, deduplication and quality scoring. "We've partnered with SpaceXAI to train Grok 4.5," popular AI coding agent Cursor said.
alexsl Wall Street closed mixed on Wednesday after President Donald declared the fragile U.S.-Iran ceasefire deal “over.” The benchmark S&P 500 ( SP500 ) finished -0.28%, while the heavy-tech Nasdaq Composite ( COMP:IND ) closed 0.2%, and the blue-chip Dow ( DJI ) ended -1.1%. Now, here are the three stocks to watch on Wednesday after hours: Costco Wholesale Corp. ( COST ) closed +0.6% on Wednesda...
alexsl Wall Street closed mixed on Wednesday after President Donald declared the fragile U.S.-Iran ceasefire deal “over.” The benchmark S&P 500 ( SP500 ) finished -0.28%, while the heavy-tech Nasdaq Composite ( COMP:IND ) closed 0.2%, and the blue-chip Dow ( DJI ) ended -1.1%. Now, here are the three stocks to watch on Wednesday after hours: Costco Wholesale Corp. ( COST ) closed +0.6% on Wednesday but declined by about 1.5% after hours even after it reported more than a 10% increase in June sales—a net of $29.24B in sales. Also, online sales were up 20.9% in June. NovoCure ( NVCR ) ended Wednesday’s session almost down 2% and proceeded to continue to fall about 4.2% after the close. The healthcare equipment company is seeing downward pressure after it published disappointing results of its late-stage Phase 3 TRIDENT trial in brain cancer. Pinnacle West Capital Corporation ( PNW ) ended -0.7% but surged to almost 6.7% after hours as the electric utilities company is experiencing strong investor confidence due to Arizona data center growth, large capital investment plans, and a rotation away from technology stocks into utilities. More on the markets I Have Been Waiting Patiently For This Q3 Selloff Markets Trade Lower And Crude Oil Spikes Energy Supercycle, Gold Arbitrage, Small-Cap Debt Issue, And Dollar Smile 3 things to look out for on Thursday SA analyst warns Iran conflict raises risk of a stagflationary recession
Meta said Wednesday it plans to build a $9 billion data center in western Canada's Alberta province, in what local officials called one of the largest private-sector investments ever in Canada."This is one of the largest private-sector investments in Canadian history," she told reporters, sporting a cowboy hat to mark the ongoing annual rodeo, the Calgary Stampede.
Meta said Wednesday it plans to build a $9 billion data center in western Canada's Alberta province, in what local officials called one of the largest private-sector investments ever in Canada."This is one of the largest private-sector investments in Canadian history," she told reporters, sporting a cowboy hat to mark the ongoing annual rodeo, the Calgary Stampede.
Joe Raedle/Getty Images News Abu Dhabi's Etihad Airways is nearing a deal to order 10 Boeing ( BA ) 787 widebody jets, with an announcement expected as early as this month's Farnborough Airshow, Reuters reported Wednesday, citing industry. Etihad CEO Antonoaldo Neves told Reuters last month that the airline was considering ordering a double-digit number of widebody planes. Separately, some wreck...
Joe Raedle/Getty Images News Abu Dhabi's Etihad Airways is nearing a deal to order 10 Boeing ( BA ) 787 widebody jets, with an announcement expected as early as this month's Farnborough Airshow, Reuters reported Wednesday, citing industry. Etihad CEO Antonoaldo Neves told Reuters last month that the airline was considering ordering a double-digit number of widebody planes. Separately, some wreckage was located Wednesday from a Boeing 737 ( BA ) cargo plane that plummeted from 35K ft into the Arabian Sea off the coast of Pakistan, but no survivors were found. The flight, K2 Airways Flight 1732, had departed from Sharjah in the United Arab Emirates on Tuesday. More on Boeing Boeing 737 MAX: Fourth Line Accelerates $53 Billion Growth Opportunity Unlocking The Factory Floor: The Math Behind Boeing's Recovery Boeing And Airbus: $80 Billion In Orders, Deliveries Near Pre-Crisis Levels
In June alone, retail sales of passenger cars fell 23.2% year-on-year to 1.6 million units. Photo: VCG Retail sales of passenger vehicles on the Chinese mainland fell 20.2% year-on-year in the first half of 2026 to 8.7 million units, as domestic demand weakened across all powertrains. The sharp contraction underscores the mounting pressure on Chinese automakers at home and is accelerating their pu...
In June alone, retail sales of passenger cars fell 23.2% year-on-year to 1.6 million units. Photo: VCG Retail sales of passenger vehicles on the Chinese mainland fell 20.2% year-on-year in the first half of 2026 to 8.7 million units, as domestic demand weakened across all powertrains. The sharp contraction underscores the mounting pressure on Chinese automakers at home and is accelerating their push overseas, where surging exports are reshaping the global auto industry.