In This Article:
As part of today's Market Minute, Brad Smith examines the trending stories on Wall Street.
CarMax (KMX) stock plunges after the company's fourth quarter results fell short of analyst expectations.
Retail stocks like Nike (NKE) and Lululemon (LULU) fall on tariff risks.
Prada (1913.HK) is set to buy Versace from Capri Holdings (CPRI) for nearly $1.4 billion.
Stay up to date on the latest market action, minute-by-minute, with Yahoo Finance's Market Minute.
It's time for Yahoo Finance's Market Minute. The stock sell-off intensifies amid uncertainty around the US-China trade war. Shares of used car dealer CarMax sinking on disappointing fourth-quarter earnings as cash-strapped consumers pull back on big ticket purchases. Some analysts forecast used car sellers, like CarMax, could benefit from higher sales as tariffs on autos and auto parts could lead to price hikes on new cars.
Nike and Lululemon shares falling, retreating from Wednesday's highs as investors assess the impact of increased tariffs on imports from China on retailers.
And in luxury retail news, Prada is buying Versace from Capri Holdings for $1.4 billion. That's well below the $2.1 billion that Capri paid the Versace family and Blackstone back in 2018.
Versace has struggled to keep up with rivals operating at a loss for the last few quarters.
That's your Yahoo Finance Market Minute. For more on what's trending on Yahoo Finance, scan the QR code below to track the best and worst performing stocks of the session.
