All the controversy surrounding Lumber Liquidators weighed on its sales. The hardwood flooring maker reported a big drop off in march sales, following media reports that accused the company of selling flooring with higher levels of a known carcinogen. The company denies the allegations and still managed to post better than expected results. Shares were up a fraction to $33.20.
CarMax posted a big jump in fourth-quarter profit as used car sales were strong. Specifically luxury vehicle sales helped bolster the car retailer’s results. Shares popped nine percent to $74.73.
AutoNation also benefited from a rise in new vehicle and luxury car sales. The CEO says one car in particular helped performance: the Ford F150. Shares were up one percent to $64.47.
IBM has reportedly hired banks to help it defend itself against activists. According to Reuters, Big Blue’s top shareholders are pressing activist hedge funds to take an interest in the stock. Shares were up a fraction to $160.45.
Simon Property announced a $2 billion share buyback program. This after Macerich, its rival mall operator, rejected its $17 billion takeover bid. Shares were up a fraction to $199.36.