CarMax Climbs, Adtran Sinks as Investors Watch Earnings
Investors have paid a lot of attention to macroeconomic data lately, and Wednesday morning's release of March inflation data has become the focal point in the future direction of the stock market. That largely had investors in wait-and-see mode Tuesday morning, with stock index futures little changed in the run-up to the beginning of trading at 9:30 a.m. ET.
Beyond economic data, though, the imminent beginning of first-quarter earnings season is also vying for its place in the spotlight. CarMax (NYSE: KMX) and Adtran (NASDAQ: ADTN) gave investors some information about how their respective quarters went, and the two stocks moved in opposite directions as shareholders reacted. Below, you'll see how the two companies are faring and what it might mean for earnings releases later this week.
Shares of CarMax rose 6% in premarket trading on Tuesday morning. The retailer of mostly used vehicles reported fiscal fourth-quarter financial results for the period ended Feb. 28, and while they weren't exactly strong, they held up somewhat better than many had feared.
Source Fool.com
