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Stock Market & Financial Investment News

News Breaks
June 20, 2014
06:57 EDTSAHSonic Automotive downgraded at Goldman
As previously reported, Goldman downgraded Sonic Automotive to Sell from Neutral. The firm downgraded shares due to limited M&A potential given high leverage and constrained operating margins from the One Sonic and pre-owned initiatives. Price target lowered to $22 from $23.
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August 18, 2014
07:01 EDTSAHSonic Automotive announces pre-owned automotive retail concept
Sonic Automotive announced that EchoPark is the name of its pre-owned vehicle retail store concept. Launching in Denver this fall, EchoPark will offer a revolutionary customer experience while providing guests with a whole new way to search, buy, service and sell their pre-owned vehicles.
06:03 EDTSAHCarMax to get new rival in used cars, WSJ reports
Sonic Automotive (SAH) is expected to today announce the creation of EchoPark stores, a chain of pre-owned vehicle stores that would compete with CarMax (KMX), the Wall Street Journal reports. Reference Link

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