Stock Alert: CarMax Down 3% In Pre Market

Fact, or Corporate Fiction?

Companies still can’t resist April Fools’ Day.

By Andrew Ross Sorkin, Jason Karaian, Michael J. de la Merced, Lauren Hirsch, Ephrat Livni and Sarah Kessler

Facts and foolishness

Yiren Digital Slips To Loss In Q4 – Quick Facts

Yiren Digital Ltd. (YRD) reported that its net loss for the fourth quarter of 2020 was RMB 559.6 million or US$85.8 million, compared to net income of RMB 404.0 million in the same period last year.

Adjusted net income for the quarter was RMB 96.2 million or US$14.7 million, excluding the loss of disposal from Restructuring.

Total net revenue in the fourth quarter of 2020 was RMB 1.16 billion or US$177.9 million, compared to RMB 2.36 billion in the same period last year due to decreased loan volume.

In wealth management business, it is expected that total sales volume of current products to be between RMB 20 billion and RMB 30 billion for fiscal year 2021. For credit-tech business, annual total loan originations are expected to be between RMB 20 billion and RMB 25 billion.

Newsmax Anchor Greg Kelly’s Weird Weed Anecdote Gets Burned On Twitter

Newsmax anchor Greg Kelly told a bizarre cautionary tale on Twitter Wednesday about his experience with marijuana ― and many readers thought he was blowing smoke.

On the day New York Gov. Andrew Cuomo signed a law legalizing recreational marijuana in the state, the right-wing host wrote:

“SMOKING WEED (aka GRASS) is NOT a good idea. I’ve tried it (back in the day) and it was WORSE than anything that happened to HUNTER BIDEN. I ‘toked up’ with some buddies in Kentucky and woke up 4 days later in Nairobi, Kenya. With no idea what happened. DON’T DO DRUGS.”

Kelly, an ex-Marine who has raised eyebrows for his far-right and far-out opinions about the perpetrators in the Capitol riot and the McDonald’s Filet-O-Fish sandwich, lit up curiosity in the Twittersphere.

Did he smoke a more powerful drug? Was he lying? Joking?

We may never know. But we’re pretty sure some of these tweets may cause a contact humor high.

Kelly also discussed New York’s move to legalize recreational weed on his Newsmax show. Fast-forward to 16:20:

Eloxx Pharma Acquires Zikani Therapeutics

Eloxx Pharmaceuticals, Inc. (ELOX) has acquired Zikani Therapeutics, Inc. in an all-stock deal. Stockholders of Zikani received approximately 7.6 million Eloxx common shares and own approximately 16 percent of the combined company.

The deal maximizes potential for ELX-02 for Cystic Fibrosis which is in phase 2 trials in Cystic Fibrosis patients affected by nonsense mutations in the cystic fibrosis transmembrane conductance regulator gene.

In connection with the acquisition, Silvia Noiman, and Martijn Kleijwegt have stepped down from the Eloxx Board. Alan Walts, and Raj Parekh, both Zikani directors, were appointed to fulfill the vacancies.

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Princess Anne accused of being royal behind Harry and Meghan's racism claim

Frontier Airlines raises $570 million in IPO, starts trading today

  • Frontier Airlines' shares priced at $19 at the low end of the expected range.
  • The budget carrier is the latest U.S. carrier to go public.
  • Trading is expected to begin next week.

Frontier Airlines raised $570 million in an initial public offering, the latest U.S. carrier to take that route as the industry starts to see signs of a recovery, the company said late Wednesday.

The Denver-based budget carrier sold 30 million shares that priced at $19 apiece, the low end of the target range, which gave it a valuation of about $4 billion.

Frontier starts trading Thursday under the ticker ULCC, the initials of the ultra-low-cost carrier, on Nasdaq Global Select Market.

Stock Alert: CarMax Down 3% In Pre Market

Shares of used car retailer CarMax, Inc. (KMX) are down more than 3% in pre market trade on Thursday.

Today, the company reported that its fourth-quarter net earnings decreased 2.3% to $209.95 million or $1.27 per share from $214.93 million or $1.30 per share in the same quarter a year ago. On average, 12 analysts polled by Thomson Reuters expected the company to report earnings of $1.26 per share.

Revenues for the quarter, however, grew to $5.164 billion from $4.962 billion last year. The consensus estimate was for $5.17 billion.

Separately, CarMax said it has signed an agreement to acquire the remaining stake in Edmunds, resource for automotive information. In January 2020, CarMax had invested $50 million in Edmunds to acquire a minority stake.

Wednesday, KMX closed at $132.66, down 2.33%. The stock is currently at $128.50