Stock Futures Tick Higher After Indexes Rebound From Tech Rout

CarMax Stock Sinks as CEO Steps Down, Soft Q3 Projections

10 minutes ago

CarMax’s chief executive is out, its current-quarter projections are weak, and its stock is dropping.

The used-car giant announced before the bell that CEO Bill Nash, a company veteran of more than 30 years, is stepping down, effective Dec. 1, and would be replaced on an interim basis by board member David McCreight.

CarMax (KMX) also provided preliminary fiscal 2026 third-quarter guidance. It sees comparable store used unit sales decreasing 8% to 12% and earnings per share of $0.18 to $0.36, “including $0.09 of non-recurring expenses related primarily to the leadership change announced today and Customer Experience Center workforce reductions.” Visible Alpha consensus is calling for a 2.94% comparable store used unit sales decrease and EPS of $0.70.

The company said the outlook reflects “a decline in retail unit sales; sharp depreciation in the wholesale business; and marketing spend, as noted in the second quarter earnings call, is expected to increase materially year-over-year in the third quarter as CarMax supports its new brand positioning launch.”

CarMax shares, which entered Thursday down 50% this year, are down a further 10% in premarket trading.

Duolingo Stock Crates on Soft Outlook

43 minutes ago

Duolingo (DUOL) shares lost roughly a quarter of their value in premarket trading Thursday, a day after the maker of a popular app to learn foreign languages reported weaker-than-expected current-quarter guidance.

The Pittsburgh-based company sees fourth-quarter bookings of $329.5 million to $335.5 million and adjusted EBITDA of $75.4 million to $78.8 million. Analysts surveyed by Visible Alpha had expected $343.6 million and $80.5 million, respectively.

Duolingo’s Q3 earnings of $5.95 per share and revenue that increased 41% year-over-year to $271.7 million topped estimates. It also reported more than 50 million daily active users for the first time.

Shares of Duolingo entered Thursday down about 20% this year.

Stock Futures Little Changed After Indexes Rebound From Tech Rout

1 hr 43 min ago

Futures contracts connected to the Dow Jones Industrial Average were down less than 0.1%.

S&P 500 futures were up less than 0.1%.

Nasdaq 100 futures also were less than 0.1% higher.