Diamonds and Dogs
Paychex (PAYX) acting strong into year end. The Rochester based payroll firm is up 5% to new highs following strong earnings. Management says a trend that emerged during the pandemic continues unabated as firms look for third part payroll, human resource advice and for benefit packages.
Profit-taking in CarMax (KMX). Good news, bad news with CarMax as the stock is down 6% even though earnings and sales are through the roof. CarMax easily beat as sales rose 65% to $8.53 billion. But general and administrative expenses in the quarter rose 33.7% to $575.9 million due in part to increases in technology spending and staffing increases.
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