Why Are Cars.com Shares Trading Higher Today?

  • Cars.com Inc CARS will replace DSP Group Inc DSPG in the S&P SmallCap 600 before the opening of trading on December 2.
  • S&P MidCap 400 constituent Synaptics Inc SYNA is acquiring DSP Group in a deal likely to be completed by December 2.
  • Cars.com is an online destination for buying and selling new and used vehicles.
  • Recently, Cars.com reported third-quarter FY21 revenue of $156.55 million, up 8% year-on-year, above the consensus of $156.28 million. EPS was $0.03 versus $(0.18) last year.
  • Cars.com sees Q4 revenue of $157.5 million - $159.5 million versus the consensus of $159.15 million.
  • Price Action: CARS shares traded higher by 7.44% at $14.30 in the premarket session on the last check Friday.
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