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ABG-News
ABG-Events
Asbury Reports Q2 Revenue of $4.385B, Below Expectations
Reports Q2 revenue $4.385B, consensus $4.49B. "Our second quarter marked a significant milestone in our enterprise technology transformation, as we completed approximately 70% of our Tekion implementation. We remain on schedule to complete the rollout across our operations this fall," said Dan Clara, Asbury's President and Chief Executive Officer. "While a dealership management system (DMS) conversion requires substantial planning and resources, we believe this investment will deliver meaningful long-term value, enhance the guest experience through a more personalized retail journey and equip our teams with modern tools to better serve our customers. We are encouraged by the operating improvements in our converted stores, and we continue to execute against our balanced capital allocation approach, repurchasing $131 million in shares during the quarter."
Travel + Leisure Officially Launches Eddie Bauer Adventure Club
Travel + Leisure announced the official launch of Eddie Bauer Adventure Club, a new hospitality concept that brings the spirit of one of America's original outdoor brands to life in a fully immersive travel experience. Marking its debut, the brand's first destination is now open in Moab, Utah-setting the stage for a portfolio designed for exploration, connection, and the spirit of living your adventure. Created in partnership with Authentic Brands Group, owner of the Eddie Bauer brand, Eddie Bauer Adventure Club represents the brand's first venture into hospitality. Rooted in more than a century of outdoor heritage, the club transforms Eddie Bauer's 'Live Your Adventure' ethos into a stay experience that blends thoughtful design, curated programming, and access to the natural world.
Asbury Automotive Group Appoints David Hult as Executive Chairman
Asbury Automotive Group announced the formal transition of David Hult from CEO to Executive Chairman effective May 4th, 2026. "During his tenure, David Hult led Asbury through the largest period of growth in the company's history," said Tom Reddin, Asbury's Non-Executive Chairman. "Asbury's revenue more than doubled, share price tripled, and earnings per share nearly quadrupled. Aided by a bold acquisition strategy that generated an aggregate net return on investment in the mid-teens and ahead of our expectations, Asbury has been transformed from a smaller regional player to one with scale in highly attractive markets with the most desirable brands across 14 states and 158 dealerships."
OpenAI Financial Concerns Weigh on Tech Stocks
The major averages closed broadly lower following a report highlighting weakness in OpenAI. Multiple tech stocks were slipping after the OpenAI report, which said CFO Sarah Friar told leadership she was concerned the ChatGPT maker may not be able to pay computing contracts in the future if it doesn't hit expansion goals quickly enough. The news comes amid a big week for corporate earnings, particularly with tech titans Alphabet, Amazon, Meta, Microsoft, and Apple set to report this week.Meanwhile, tensions between Washington and Tehran remain high as President Trump reportedly is unhappy with Iran's proposal to end the war. Such tensions, combined with the UAE announcing it will leave OPEC, impacted oil prices, which are back to hovering around the $100 per barrel mark.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:OpenAI has missed its internal targets for users and revenue,Coca-Colareportedand reiterated its FY26 revenue growth outlookUPSreportedand provided guidance for FY26 adjusted earnings growthGeneral Motorsprovided areport for Q1IACplans to change name toand said it will implement a workforce reduction2. WALL STREET CALLS:TFI Internationalto Buy at BofAOld Dominionto Neutral from Underperform at BairdTronoxto Sell at TruistRambusto Neutral at BairdDA DavidsonMicronat Buy on "longer-than-usual" memory cycle3. AROUND THE WEB:Appleis working on a major overhaul of the built-in photo-editing features for its iPhone, iPad, and Mac products, leaning heavily on AI, Bloomberg reportsAmetekis near a deal for Indicor's testing and measurement businesses, which would value them at around $5B, WSJ reportsMetais preparing to undo its acquisition of AI startup Manus after China banned the transaction, WSJ saysThe Federal Communications Commission is moving toward a review of Disney'sbroadcast licenses amid the Trump administration's fight with Jimmy Kimmel, Semafor reportsParamount Skydancefiled a petition to the Federal Communications Commission seeking permission for significant ownership by Middle East sovereign wealth funds, WSJ says4. MOVERS:Sanminagained afterand announcing the authorization of a $600M share buybackSolaris Energyincreased after, raising its guidance for Q2 and signing a third long-term power contractBridgeBioslipped after Pfizerenteredfor VyndamaxErascawas lower after disclosing aafter withdrawing from its Phase 1 trial for ERAS-0015Celesticafell in New York afterand providing guidance for Q25. EARNINGS/GUIDANCE:Ecolab, with EPS in-line with consensusKiniksareported Q1 results and raised its guidance for FY26S&P Global, with CEO Martina Cheung commenting, "We are pleased with the results we achieved in the first quarter"Operaand provided guidance for Q2 and FY26Asbury Automotive, with EPS and revenue missing consensusINDEXES:The Dow fell 25.86, or 0.053%, to 49,141.93, the Nasdaq lost 223.30, or 0.90%, to 24,663.80, and the S&P 500 declined 35.11, or 0.49%, to 7,138.80.
OpenAI Financial Concerns Weigh on Tech Stocks
The major averages were mostly lower near noon, with the Dow marginally higher but the S&P 500 and Nasdaq slipping amid a report highlighting weakness in OpenAI as well as an increase in oil prices. Multiple tech stocks were slipping after the OpenAI report, which said CFO Sarah Friar told leadership she was concerned the ChatGPT maker may not be able to pay computing contracts in the future if it doesn't hit expansion goals quickly enough. The news comes amid a big week for corporate earnings, particularly with tech titans Alphabet, Amazon, Meta, Microsoft, and Apple set to report this week.Meanwhile, tensions between Washington and Tehran remain high as President Trump reportedly is unhappy with Iran's proposal to end the war. Such tensions combined with the UAE announcing it will leave OPEC and OPEC+ have impacted oil prices, which are back to hovering around the $100 per barrel mark.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:OpenAI has missed its internal targets for users and revenue,Coca-Colareportedand reiterated its FY26 revenue growth outlookUPSreportedand provided guidance for FY26 adjusted earnings growthGeneral Motorsprovided areport for Q1IACplans to change name toand said it will implement a workforce reduction2. WALL STREET CALLS:TFI Internationalto Buy at BofAOld Dominionto Neutral from Underperform at BairdTronoxto Sell at TruistRambusto Neutral at BairdDA DavidsonMicronat Buy on "longer-than-usual" memory cycle3. AROUND THE WEB:Metais preparing to undo its acquisition of AI startup Manus after China banned the transaction, WSJ saysThe Federal Communications Commission is moving toward a review of Disney'sbroadcast licenses amid the Trump administration's fight with Jimmy Kimmel, Semafor reportsFedExplans to return its MD-11 cargo jets to service next month, a move which will allow the company to cut back on expensive leased planes it has enlisted since regulators grounded all MD-11s following another carrier's crash in November, WSJ saysSalesforceand Slack are suing Microsoftat London's High Court over alleged anticompetitive practices utilized by the Teams app, Reuters reportsParamount Skydancefiled a petition to the Federal Communications Commission seeking permission for significant ownership by Middle East sovereign wealth funds, WSJ says4. MOVERS:Sanminagains afterand announcing the authorization of a $600M share buybackSolaris Energyincreases after, raising its guidance for Q2 and signing a third long-term power contractBridgeBioslips after Pfizerenteredfor VyndamaxErascalower after disclosing aafter withdrawing from its Phase 1 trial for ERAS-0015Celesticafalls in New York afterand providing guidance for Q25. EARNINGS/GUIDANCE:Ecolab, with EPS in-line with consensusKiniksaand raised its guidance for FY26S&P Globalwith CEO Martina Cheung commenting, "We are pleased with the results we achieved in the first quarter"Operaand provided guidance for Q2 and FY26Asbury Automotive, with EPS and revenue missing consensusINDEXES:Near midday, the Dow was up 0.13%, or 64.54, to 49,232.33, the Nasdaq was down 1.43%, or 356.21, to 24,530.90, and the S&P 500 was down 0.78%, or 56.00, to 7,117.91.
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