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Stock Market & Financial Investment News

News Breaks
February 19, 2014
07:54 EDTKMXConcerns about CarMax largely overblown, says Oppenheimer
Oppenheimer believes that concerns about CarMax's sub-prime credit offering and its more challenging comp comparisons are largely overblown. The firm reports that on February 18, it observed a marked decline in CarMax's inventory levels. It thinks the change may indicate that the company had stronger used car sales over the Presidents' Day weekend. The firm keeps a $61 price target and Outperform rating on the stock.
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February 1, 2016
06:51 EDTKMXCarMax promotes Bill Nash to President, Cliff Wood to COO
CarMax announced that, as the culmination of a multi-year management succession plan, Bill Nash has been promoted to President and Cliff Wood has been promoted to COO, effective February 1, 2016. Tom Folliard plans to retire as CEO prior to the end of 2016, at which time it is anticipated that Nash will assume the role of CEO. Upon Folliard's retirement, the board expects that he will serve as the non-executive Chairman of the Board.

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