1:05 PM New York – U.S. auto sales increased 11% in May and Chrysler sales in the month surged 17%, Ford sales rose 3% and GM sales jumped 13%. Toyota sales soared 17%. KKR agreed to buy Internet Brands $1.1 billion.
American Woodmark Corporation
) rose 12 cents to $28.17 after the kitchen cabinets maker reported revenues in the fourth-quarter ending in April jumped 10% to $188.9 million.
Net income in the quarter climbed 7.7% to $5.6 million or 36 cents a diluted share compared to $5.2 million or 35 cents.
, the carmaker said its May sales surged 17.4% to 194,421 vehicles from a year earlier, making the best May sales since 2007. For the third month in a row, Jeep brand sales reached a new high and soared 58% to 70,000 vehicles.
Ford Motor Company
) rose 1.1% or 18 cents to $16.73 after the car-maker reported total U.S. sales in May rose 3% to 254,084 vehicles and retail sales climbed 6% to 174,889 vehicles.
Sales of Fusion model soared 14.6% to 33,881 units and sales for Explorer surged 21% to 20,346 units mark for the first time since July 2005.
General Motors Company
) climbed 3.9% or $1.37 to $36.63 after the automobile maker said sales in May jumped 13% to 284,694 vehicles compared to a year ago. For the month, Chevrolet sales climbed 14%.
The company said Buick sales in the month jumped 11% and May month sales were the best since 2005. GM expects to increase its total market share year-over-year.
KKR & Co. L.P
) rose 19 cents to $23.54 after the investment company agreed to acquire Internet Brands Inc from private equity firms Hellman & Friedman and JMI Equity valued $1.1 billion.
Toyota Motor Corp
slipped 76 cents to $114.16 after the automobile company surged 17% to 243,236 vehicles.
Volkswagen Group of America
, the automobile company reported sales in May declined 5% to 49,036 vehicles. Sales in brand name VW models plunged 15% to 32,163 vehicles.