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AutoNation Acquires 6.1% Ownership Stake In TrueCar
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(RTTNews) - Automotive retailer AutoNation, Inc. (AN) announced Tuesday its acquisition of an approximately 6.1% minority ownership stake in TrueCar, Inc. (TRUE), a leading automotive digital marketplace that lets auto buyers and sellers connect to its nationwide network of Certified Dealers.
AutoNation's decision to invest in TrueCar signals the company's continued commitment to emerging technologies and its constant focus on providing peerless Customer experiences.
TrueCar provides an end-to-end, transparent and efficient way for consumers to navigate the car-buying journey.
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AutoNation Q4 Results Top Estimates
Automotive retailer AutoNation, Inc. reported on Friday that profit for the fourth quarter declined 26 percent from last year, hurt by higher costs and expenses, despite 2 percent revenue growth. However, adjusted earnings per share and quarterly revenues topped analysts' expectations.
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Asian Markets Trade Mostly Higher
Asian stock markets are trading mostly higher on Monday, following the mixed cues from Wall Street on Friday, amid optimism about a potential U.S.-China trade deal after U.S. Treasury Secretary Scott Bessent confirmed that a trade deal has been struck with China following the weekend talks in Switzerland, with no more details offered. Asian markets closed mostly higher on Friday.
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Sensex, Nifty Set To Rally As Trade, Geopolitical Tensions Ease
Indian shares look set to open sharply higher on Monday as investors react to easing Indo-Pak tensions and positive indications coming from China-U.S. trade talks.
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Japanese Market Modestly Higher
The Japanese stock market is trading modestly higher on Monday, extending the gains in the previous two sessions, following the mixed cues from Wall Street on Friday, with the Nikkei 225 moving above the 37,600 level, with gains in index heavyweights, technology and financial stocks.
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Australian Market Notably Higher
The Australian stock market is notably higher on Monday, extending the gains in the previous three sessions, following the mixed cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is moving up to near the 8,300.00 level, with gains across most sectors led by iron ore miners and energy stocks.
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Hong Kong Shares Due For Consolidation
The Hong Kong stock market has tracked higher in seven straight sessions, soaring more than 900 points or 4.1 percent along the way. The Hang Seng Index now sits just above the 22,865-point plateau although investors figure to lock in gains on Monday.
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Lower Open Likely For China Stock Market
The China stock market on Friday wrote a finish to the three-day winning streak in which it had gathered more than 70 points or 2.2 percent. The Shanghai Composite Index now rests just above the 3,340-point plateau and it's expected to open to the downside again on Monday.
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Japan Posts Y3.678 Trillion Current Account Surplus
Japan saw a current account surplus of 3.678 trillion yen in March, the Ministry of Finance said on Monday - up 6.7 percent on year.
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