KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
Online used-car retailer Carvana (CVNA) is set to report its second-quarter earnings Wednesday, and analysts see plenty of momentum behind the company’s winning streak.
Analyst Expectations
Revenue: $4.58 billion (+34% YoY)
Earnings per share: $1.17 (vs. $0.37 a year ago)
Retail unit sales: Expected to jump 40% YoY after a 46% surge in Q1
Carvana’s stock has climbed 65% year-to-date and over 160% in the past year, closing at $337 on Wednesday.
Tariffs Could Play in Carvana’s Favor
With President Trump imposing 25% tariffs on imported cars and used car parts, analysts say the price gap between new and used vehicles may work to Carvana’s advantage. Used cars currently average $25,512, compared to $48,907 for new vehicles, according to Kelley Blue Book.
Analyst Views
J.P. Morgan: Rates Carvana Overweight, citing its transformation into a “more profitable and nimble operator” with unit economics outpacing peers after its 2023 debt restructuring.
Evercore ISI: Maintains a Hold rating, warning of headwinds such as subprime credit weakness and a potential affordability crunch if demand spikes from buyers priced out of the new car market.
What’s Next
Carvana reports Q2 earnings Wednesday after the market close, with investors watching closely to see if the company can sustain its rapid growth amid tariff pressures and broader economic uncertainty.
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