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Stock Market & Financial Investment News

News Breaks
January 2, 2013
10:34 EDTCAR, ZIP, HTZ, IDSYZipcar, Avis Budget both surge following agreement to merge
Shares of car sharing service operator Zipcar (ZIP) are soaring after it agreed to be acquired by car rental company Avis Budget (CAR) for $12.25 per share in cash, or approximately $500M. Avis Budget's shares also rose after it announced the deal, which it said would be accretive to EPS in the second year. On the companies' conference call related to the deal, Avis Budget said it now sees car sharing as complementary to its traditional business and Zipcar said it expects the deal will "dramatically" reduce its costs associated with buying cars. Avis said it expects the deal will help it reach its growth and profitability targets more quickly and confirmed its guidance for FY12 EPS of $2.35-$2.45 and FY12 revenue of $7.3B. In mid-morning trading, Zipcar surged 48.67% to $12.25, Avis Budget advanced 5.10% to $20.83, and shares of Hertz (HTZ), Avis' primary rival, rose 3.07% to $16.77. Meanwhile, shares of I.D. Systems (IDSY), which struck a partnership agreement with Avis Budget during early 2012 to deploy a new generation of wireless vehicle rental technology, slid 38c, or 6.44% to $5.45, though Avis did state during its conference call that its merger with Zipcar is not expected to impact its existing agreement with I.D. Systems.
News For CAR;ZIP;HTZ;IDSY From The Last 14 Days
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October 22, 2014
09:38 EDTCARActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL PBR AMZN C TWTR YHOO BAC GILD FB THRX DOW CAR
08:38 EDTCARAvis Budget price target lowreed to $56 from $62 at Barclays
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October 21, 2014
14:09 EDTHTZThird Point discloses new positions in eBay, Alibaba, exit from Sony
In its Q3 investor letter, Third Point says it established a "significant" position in eBay (EBAY). Dan Loeb's hedge fund also revealed it has established a significant direct investment in Alibaba (BABA) shares now that the company is public. Third Point also said it is now one of Amgen's (AMGN) largest shareholders. During the quarter, Third Point exited its position in Sony (SNE) and reduced or exited other positions, including AIG (AIG), Hertz (HTZ) and Softbank (SFTBF), the firm stated in its letter. PRICE ACTION: Following the disclosures in the Third Point letter, Amgen is up 4%, eBay is up 2.3% and Alibaba is up 3.8%, while Sony shares trading in New York are down nearly 1%.
11:02 EDTHTZHertz, United Airlines upgrade partnership
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08:12 EDTHTZNissan selects Hertz as exclusive mobility partner
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October 20, 2014
08:58 EDTHTZJana Partners reports 7% stake in Hertz, says may engage in talks
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October 15, 2014
10:39 EDTCARAvis Budget authorizes additional $200M of future share repurchases
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08:34 EDTHTZHertz subsidiary Hertz Equipment Rental launches In Panama
Hertz' wholly owned subsidiary Hertz Equipment Rental Corporation has announced its launch in Panama City, Panama to deliver specialty equipment rental solutions for the construction, industrial, and government sectors.
October 14, 2014
05:58 EDTHTZStocks with implied volatility above IV index mean; HTZ SD
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October 13, 2014
06:03 EDTHTZStocks with implied volatility above IV index mean; HTZ MU
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October 10, 2014
11:40 EDTHTZStocks with call strike movement; HTZ AAL
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October 9, 2014
08:42 EDTCARAvis Budget volatility increases on wide price movement
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