logo
  

Sonic Automotive Climbs Off Lows But Remains Firmly Negative

After gapping open sharply lower, shares of Sonic Automotive (SAH) have climbed well off their worst levels but continue to see significant weakness in afternoon trading on Wednesday. Sonic is currently down by 5.8 percent after hitting a three-month intraday low.

The initial sell-off by Sonic came after the automotive retailer warned its second quarter earnings were negatively impacted by lower than anticipated gross margins in certain key brands.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
HSBC Holdings Plc shares were gaining In London trading as well as in pre-market activity on the NYSE after the Asia-focused lender backed its positive outlook after reporting significantly higher third-quarter profit. Further, the company announced share buyback of $2 billion, which will be commenced shortly. Walmart is recalling certain Aromatherapy Room Spray due to the possible presence of a rare and dangerous bacteria that is suspected to be behind two deaths in the United States, the U.S. Consumer Product Safety Commission said. The recall involves about 3,900 bottles of Better Homes and Gardens-branded Essential Oil Infused Aromatherapy Room Spray with Gemstones in six different scents. Royal Caribbean Group's ultra-luxury brand Silversea Cruises is set to launch the world's first hybrid-powered cruise ship in the summer of 2023. This will also be the first ship with large-scale fuel cell technology to enable emission-free port operations. The fuel cells will provide 100% of power while at port.
Follow RTT