Sonic Automotive News

A former North Carolina judge who gave up his seat on the bench in 2009 in the midst of an investigation over his continued membership on a corporate board and other issues is now facing a legal ethics case over accusations that he lied during the probe.

The Notes were issued at 100% of the principal amount thereof, resulting in a yield to maturity of 5.0%. A substantial portion of the net proceeds of this offering will be used to redeem all of Sonic's outstanding 9.0% Senior Subordinated Notes due 2018 pursuant to the optional redemption provisions of the indenture governing the 9.0% Notes.

Yes to the first two and nay to the last part. Today , the Barclays US High Yield Index dropped below 5% for the first time ever on top of record issuance year-to-date. As a whole, the credit situation of US companies hasn't changed much over the past five months.

Sonic Automotive today announced it intends to commence a private offering of up to $300.0 million in aggregate principal amount of senior subordinated notes to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933 and in offshore transactions pursuant to Regulation S under the Securities Act.

The firm currently has a "neutral" rating on the stock. Shares of Sonic Automotive traded down 1.69% during mid-day trading on Wednesday, hitting $21.57. Sonic Automotive has a 52 week low of $11.88 and a 52 week high of $25.51. The stock's 50-day moving average is currently $22.3. The company has a market cap of $1.143 billion and a P/E ratio of ... (more)

Good morning and welcome to the Sonic Automotive First Quarter Conference Call. All lines have been placed on mute to prevent any background noise.

Sonic Automotive posted its quarterly earnings results on Tuesday. The company reported $0.41 earnings per share for the quarter, missing the analysts' consensus estimate of $0.42 by $0.01, AnalystRatings.Net reports.

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