00:00I'm looking at a stock that hasn't done much of anything for months now, Paul, but today it's
00:05having a great day. I'm talking about Lazy Boy, the furniture company. The stock is up 17% here
00:12pre-market. Year to date, it was down 6%. So this is after reporting better than expected Q4
00:19financial results. Also, the company authorized a $300 million share buyback. So that sort of
00:24always helps. Adjusted earnings of $1.26 a share, that beat expectations. And they're also saying
00:31that they reiterated guidance for the fiscal year. So earlier in the year, they had talked about bad
00:38weather, maybe hurting sales at the furniture stores. But apparently, according to these
00:42numbers, that really didn't come to fruition. They also said that they are growing their business by
00:47opening new stores, acquiring independent stores. So Lazy Boy now owns 230 stores across
00:54North America, which accounts for more than 60% of its total network.
00:58It's funny. I didn't even, you know, I didn't even know this was a publicly traded company.
01:02I saw some part of some conglomerate.
01:04You would think.
01:05Based in Monroe, Michigan, 10,200 employees got a market cap of $1.4 billion.
01:13I mean, that's a substantial company. Way to go, Lazy Boy.
01:16Yeah, good for them.
01:17All right. Stock not lazy today. Let's move on to CarMax, ticker symbol there, KMX.
01:21CarMax having a good morning as well, up right now about 1.8%. And it's been having a good year
01:27because CarMax is up 35%. Fiscal first quarter sales climbed. This is the used car retailer,
01:34sold more vehicles and said its turnaround strategy appears to be taking hold. So net sales,
01:40operating revenue at CarMax, climbing 6.2%. But the company posted a profit of $186 million,
01:48but that was actually down compared to a year ago. And they attributed that lower profit
01:53in part to lower prices. They basically said they had to cut prices to stay competitive and to move
01:58cars off lots. Comparable sales slipped eight tenths of a percent, not as steep as the 2% decline
02:03that analysts were looking at, but still a decline nonetheless. Moving forward though,
02:09CarMax CEO said the company is going to continue to implement its turnaround strategies
02:12and such as ensuring that its cars remain priced competitively. I think that's the trick.
02:18What I didn't know is I think the average age of a car in the U.S. on the, it's
02:22like 14 years,
02:2312 or 14 years. I mean, it's like, I didn't know that, but I mean, so if you're CarMax,
02:27that's your bread and butter right there. People are holding onto their cars much, much more. And I
02:31think cars are just holding up better in general too. Yeah, they're better made. And CarMax
02:35stocks up a little bit today. It's up 35% year to date. So I guess that turnaround is taking,
02:41taking hold there. What else? Yeah, for sure. And then want to move over to the manufacturing
02:45sector with Jabil out with earnings here before the, uh, before the open, the stock is up 2.6%.
02:50Jabil raised its full year outlook, uh, after logging higher profit and a jump in revenue
02:56last quarter, demand for artificial intelligence infrastructure remains robust. According to the
03:01company, Jabil's outlook for AI related revenue for the year is now meaningfully higher on what the
03:08company CEO called extremely strong demand. So the manufacturing company now expects adjusted
03:13earnings of 1270, a share on revenue of about 35 billion for the year. And that is up from its
03:18previous forecast. So wall street likes what it's hearing from Jabil. And again, the stock up
03:22better than two and a half percent here in the pre-market. I mean, here's just another company.
03:27I don't know anything about. I mean, and it's huge. It's a, you know, $40 billion market cap company
03:33based in St. Petersburg, Florida. Okay. 135,000 employees. Again, I've been on wall street for
03:3940 years. I've never heard it. I mean, well, maybe they weren't part of a big, a huge M&A
03:43deal.
03:44I don't know. This is why you don't know. Yes. Exactly. But I'm just taking a look at them. Jabil
03:47up
03:4865% year to date. So, uh, stock's been a nice performer for its shareholders. Yeah.
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