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Shares of


(KMX) - Get CarMax Inc Report

were among the


winners Monday, rising 8% after the operator of used-car dealerships posted first-quarter results that topped Wall Street's forecast.

The company earned $56.8 million, or 53 cents a share, on revenue of $1.89 billion. The earnings per share included a 3-cent benefit related to the company's auto finance unit. Analysts polled by Thomson First Call expected earnings of 38 cents a share and revenue of $1.82 billion. During the year-earlier period, CarMax earned $37 million, or 35 cents a share, on revenue of $1.58 billion. "We benefited from stronger traffic and continued excellent execution by our store teams. Also, we did not see a repeat of the unusually volatile sales patterns that we experienced in the first quarter of the two previous fiscal years," the company said.

CarMax continues to see fiscal 2007 earnings of $1.25 to $1.47 a share, though the company said that earnings could be near the high end of the range if sales trends seen during the first quarter continue. Analysts project full-year earnings of $1.36 a share. CarMax shares were trading up $2.64 to $34.14.


(ACV) - Get Virtus AllianzGI Diversified Income & Convertible Fund of Beneficial Interest Report

rose 3% after the maker of hair care products said that it plans to spin off its beauty-supplies distribution business. Under the plan, Sally Beauty will become an independent, publicly traded company with 2,465 Sally Beauty stores, and 825 Beauty Systems Group outlets. For the 12 months ended March 31, Sally Beauty generated revenue of $2.3 billion and pretax operating earnings of $244 million. As part of the spinoff, shareholders will receive a $25 a share special cash dividend as well as receive one share of Alberto-Culver and one share of Sally Beauty for each share of Alberto-Culver they own. Alberto-Culver shareholders will own about 52.5% of Sally Beauty once the company goes public. Shares recently were up $1.30 to $47.98.

Shares of


(ASH) - Get Ashland Global Holdings Inc. Report

rose 6% after the chemical and transportation construction firm said that it is exploring the possible sale or spinoff of its paving and construction unit. To that end, Ashland has entered into an exclusive negotiating period with Ireland-based Oldcastle Materials, which might be interested in buying the unit. Ashland said it doesn't expect to disclose developments until a definitive transaction or decision to not proceed with a deal is reached. Shares traded up $3.44 to $65.20.


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TheStreet Recommends

(NKE) - Get Nike Inc. Report

rose modestly after the apparel and athletic footwear maker announced a $3 billion share repurchase program. The new four-year buyback plan will replace the company's previous $1.5 billion share repurchase plan, which is expected to be completed within the next few weeks. "The completion of our previous $1.5 billion program two years ahead of schedule is a testament to our confidence in the long-term growth prospects for our company," Nike said. "By doubling the size of the new authorization to $3 billion, we are confident in the strength of our cash flow." Shares were trading up 38 cents to $83.53.

Shares of



rose 1% after the Internet marketing firm increased its stock buyback plan by $50 million. Since announcing a $100 million increase in its stock repurchase plan on May 8, the company has bought some 5.7 million shares worth about $85.6 million. Shares were trading up 12 cents to $14.53.

NYSE volume leaders included

Hewlett Packard

(HPQ) - Get HP Inc. Report

, up 94 cents to $33.98;

Nortel Networks

( NT), down 14 cents to $2.13;



, down 33 cents to $11.68;

Time Warner


, up 8 cents to $17.04;

Lucent Technologies

( LU), down 1 cent to $2.43;


(PFE) - Get Pfizer Inc. Report

, down 22 cents to $23.21; and


(F) - Get Ford Motor Company Report

, up 9 cents to $6.78.


volume leaders included


(MSFT) - Get Microsoft Corporation Report

, up 17 cents to $22.27;


(INTC) - Get Intel Corporation Report

, up 29 cents to $18.59;

Sirius Satellite Radio

(SIRI) - Get Sirius XM Holdings Inc. Report

, down 5 cents to $4.02;



, up 5 cents to $2.47;


(ORCL) - Get Oracle Corporation Report

, up 33 cents to $14.52;

Cisco Systems

(CSCO) - Get Cisco Systems Inc. Report

, up 6 cents to $20.04; and

Apple Computer

(AAPL) - Get Apple Inc. Report

, up 8 cents to $57.64.