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Autonation Shares Jump 6% On Strong Earnings

SAN FRANCISCO -- Shares of Autonation Inc. jumped as much as 6% at the open Thursday after the car retailer reported record-high fourth-quarter earnings. For the last three months of 2010, Autonation posted net income of $67.3 million, or 45 cents a share, up from $61.7 million, or 35 cents, a year earlier. Revenue for the quarter rose 16% to $3.25 billion. Analysts surveyed by FactSet had predicted the Fort Lauderdale, Fla., company would earn 35 cents a share on $3.1 billion in sales. Autonation shares were last up 5.9% at $29.20. The stock is up nearly 62% from where it traded a year ago.
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