CarMax Higher After Q1 Beat

CarMax, Inc KMX shares are trading higher by $3.70 (5 percent) at $62.96 in Wednesday's session.

Before the open, the company announced a Q1 EPS beat of 15 cents along with a sales beat of $80 million. Used car comps were up 8.2 percent.

After a higher open, CarMax immediately peaked at $63.95 and reversed course. That high coincides with the trio of highs at the $64.00 area from early June. Within minutes it fell under $62.00, but found support just above the upper-end of Tuesday's range ($61.58) at $61.70 and resumed its move higher.

At this time (9:50 a.m. EST) it's battling to remain in the $63.00 handle.