Consumer Automotive Finance Inc (CAFI)

[arbpro]

Let KMX know how you do it......

KMX missed its earnings number for the second quarter and guided lower for the 3rd quarter. The CEO noted a softening used car market. KMX wants to know how NWAU can guide 18 months out, when KMX's visibility is limited to 3 months. BUT, KMX must report through audited returns. NWAU, well they said they would file audited returns in June. What happened to those returns? Did quarter 1 and 2 never happen for NWAU? What does an asset purchase, by a no revenue company, have to do with filing those financials for quarter 1 and 2? NWAU can prove all the critics wrong by just filing those financials they promised. But, of course, they won't, because then the numbers mean something. Funny the PR today had no SOX certification. And that is the DIFFERENCE between the playing field of KMX, and the play loose with the truth field of NWAU.
"Our sales pace began to lose some momentum in April and weakened further in May," Chief Executive Austin Ligon said in a written statement.

"We believe some of the same factors that affected the marketplace last spring and summer put pressure on the market this spring, including an atypical rise in wholesale auction prices and higher gas prices," he added.

Against this backdrop, CarMax forecast earnings of 29 to 34 cents a share for the second quarter, as opposed to Wall Street's average view calling for a profit of 34 cents.

At C.L. King & Associates, analyst William Armstrong followed up the report by lowering his price target on the stock to $24 from $25 and reiterating his sell rating.