Teeko Le, aged 17, was found guilty of murder and Darnell Donovan-Harris, 22, of manslaughter in relation to the death of Naasir Francis, 22.
Mr Francis was shot several times at close range on August 26 following a disorder between two rival groups in Lozells, Birmingham.
The shoot-out also involved Lawrence Morgan, 25, an associate of Naasir.
Teeko Le and Darnell Donovan-Harris were standing outside shops in Lozells Road when Lawrence Morgan and Naasir pulled up in their white Lexus.
As Morgan and Mr Francis got out of their Lexus and walked down Lozells Road, they spotted the pair and fled, jumping into a passing car of an associate.
They then drove to an address where it is believed they collected a gun and within minutes returned to Lozells Road. Morgan on a pedal bike, with Mr Francis following on foot.
Morgan fired the first shot at the group and Teeko Le subsequently fired back.
It was 12.30pm, in the middle of the day when both groups opened fire at each other putting themselves and the public at risk of serious injury or worse.
Morgan jumped back on his bike and Mr Francis got into the Lexus.
As Teeko Le and Donovan-Harris pursued Morgan, Donovan-Harris spotted Mr Francis sitting in the driver’s side of the car and started to punch him. Donovan-Harris then made way for Teeko Le who fired several shots into the car.
Mr Francis was shot several times, an execution in broad daylight.
Morgan, who was still nearby, started to shoot towards Teeko Le and Donavon-Harris before jumping into the car as the other two ran off.
Rather than taking Mr Francis to hospital, Morgan drove off before callously leaving his dying friend in a street nearby where members of the public tried to help him.
Mr Francis was taken to hospital and despite the best efforts of emergency services died in hospital.
An analysis of phone records and eye witness accounts as well as CCTV placed each one at the scene, and over the next few days all three were arrested.
Outlining their defence in court, Morgan Donovan-Harris confirmed it was them in the CCTV, but Teeko Le continued to deny he was there.
However, on Tuesday at Birmingham Crown Court, a jury took just six hours to find Le guilty of murder and Darnell Donovan-Harris guilty of manslaughter.
Le, of Liberty Rise, Surrey, was also found guilty of attempted murder and possession of a firearm with intent to endanger life.
Morgan, of Crompton Close, Nechells, Birmingham, had pleaded guilty to possession of a firearm at the beginning of the trial.
Detective chief inspector Jim Munro, from West Midlands Police's homicide team, said: "Sadly this is the tragic reality of what carrying a gun can lead to.
"Teeko Le and Morgan chose to carry a gun and open fire in broad daylight knowing any one of them could be instantly killed. And sadly that’s what happened to Naasir.
"Naasir’s death is such a waste of life, not only Naasir’s life but also the lives of two young men and a teenager.
"My thoughts remain with Naasir’s family at this difficult time."