Stock Movers Carmax Beats Estimates; Circle to Extend Gains, Home Depot Seeks to Buy GMS
Jun 20, 2025
CarMax has surprised investors with better-than-expected earnings, showcasing the resilience of the auto retail sector. Meanwhile, Circle Internet Group's stock is surging after the Senate's approval of stablecoin legislation, igniting optimism in the crypto space. Home Depot is making waves by pursuing an acquisition of GMS Inc., potentially igniting a bidding war with QXO. Positive outlooks for Mondelez from Wells Fargo add further intrigue to the stock market dynamics this week.
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CarMax Earnings Beat Estimates
- CarMax's Q1 earnings beat analyst estimates, with sales slightly above $6 billion and EPS of $1.38 versus $1.17 consensus.
- This strong earnings report caused a 6.5% premarket stock jump, highlighting market optimism.
Stablecoin Bill Boosts Crypto Stocks
- Passage of US Senate stablecoin legislation sparked a 34% rally for Circle Internet Group, with premarket gains continuing.
- Crypto stocks like Coinbase and Bitcoin also climbed, reflecting renewed investor confidence from regulatory clarity.
Home Depot Enters GMS Bidding War
- Home Depot made an offer for GMS Inc., challenging a $5 billion bid by QXO Inc., triggering a potential bidding war.
- GMS shares rose 22% in premarket, while Home Depot shares were slightly down due to market reaction to the M&A news.