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Stock Market & Financial Investment News

News Breaks
March 18, 2014
10:43 EDTHTZHertz sees FY14 gross fleet investment $600M-$675M
Says went into October significantly over-fleeted. Says excess fleet made it more difficult to optimize pricing. Says aggressively selling fleet. Says rolling out price optimization system. Says Q4 challenges were unusual and temporary. Says excess fleet situation is "nearly behind us." Expects to see similar trends and expenses associated with excess fleet in Q1 as Q4 , "but after that those costs will be behind us." The company said its priority for FY14 is double digit revenue growth. Says expects to be able to tighten guidance range as the company has more flexibility throughout the year. Expects more growth in Europe as market stabilizes. Expects international revenue fleet costs to be down low single digits in FY14. Says fleet utilization should progressively improve starting in the second quarter but expects to get back to the 2012 to 80% plus rate this year. Expects rental car performance to gain viability and recognition among shareholders. Says sees being active in returning shareholder value. Comments made during the company's Q4 earnings conference call
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August 25, 2014
12:02 EDTHTZHertz names Louis R. Franzese as Chief Human Resources Officer
Hertz announced that it has appointed Louis R. Franzese as Chief Human Resources Officer, effective September 8. Franzese succeeds LeighAnne Baker, who left Hertz earlier this year to become Chief Human Resources Officer at Cargill. Franzese joined Hertz in 1999 as Senior Staff Counsel specializing in Labor Relations. Between 2005 and 2012 he was the company's senior labor lawyer and spokesperson, having been promoted to Vice President, Labor Relations and HR Practices in 2005. In 2012, Franzese was promoted to Senior Vice President with responsibility for the company's Human Resources function in the Americas.
August 22, 2014
16:42 EDTHTZMarket finishes week higher on economic data, earnings
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August 21, 2014
10:17 EDTHTZStocks with call strike movement; MU HTZ
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10:03 EDTHTZActive puts at CBOE
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August 20, 2014
19:13 EDTHTZHertz remains focused on executing its operating initiatives
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17:12 EDTHTZOn The Fly: Closing Wrap
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16:01 EDTHTZOptions Update; August 20, 2014
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15:43 EDTHTZIcahn reports 8.48% stake in Hertz, plans talks with management
Icahn acquired his positions in the shares in the belief that they were undervalued. Icahn intends to have discussions with representatives of the company's management and board of directors relating to shareholder value, accounting issues, operational failures, underperformance relative to its peers and Icahn's lack of confidence in management. Icahn may also seek shareholder board representation if appropriate. Icahn may, from time to time and at any time: (i) acquire additional Shares and/or other equity, debt, notes, instruments or other securities of the company in the open market or otherwise; (ii) dispose of any or all of their securities in the open market or otherwise; or (iii) engage in any hedging or similar transactions with respect to the securities.
15:40 EDTHTZIcahn reports 8.48% stake in Hertz
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15:25 EDTHTZHertz holder Fir Tree urges board to change CEO, Bloomberg says
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14:56 EDTHTZHertz holder Fir Tree petitions board to change CEO, Bloomberg says
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12:37 EDTHTZOn The Fly: Midday Wrap
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12:02 EDTHTZHertz drops after withdrawing full year guidance, analyst downgrades
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10:20 EDTHTZHertz falls sharply, levels to watch
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10:04 EDTHTZOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: BHP Billiton (BHP) downgraded to Underperform from Neutral at Credit Suisse... GT Advanced (GTAT) downgraded to Underperform from Outperform at CLSA... Hertz (HTZ) downgraded to Hold from Buy at Deutsche Bank... IDEXX (IDXX) downgraded to Sell from Neutral at Northcoast... Prestige Brands (PBH) downgraded to Neutral from Buy at Sidoti... Real Goods Solar (RGSE) downgraded to Neutral from Buy at Roth Capital... Regal-Beloit (RBC) downgraded to Neutral from Buy at Longbow... SunCoke Energy (SXC) downgraded to Neutral from Outperform at Credit Suisse... Tidewater (TDW) downgraded to Market Perform from Outperform at Clarkson Capital.
09:07 EDTHTZOn The Fly: Pre-market Movers
UP AFTER EARNINGS: PetSmart (PETM), up 2,1%... Staples (SPLS), up 2%... E-House (EJ), up 2.5%. HIGHER: Fairchild (FCS), up 4% after Bloomberg says Infineon (IFNNY) is near a deal to buy a U.S. semiconductor company for $2B... Amicus Therapeutics (FOLD), up 18.4% after reporting positive Phase 3 data from the Fabry study. DOWN AFTER EARNINGS: Lowe's (LOW), down 3%... Tarena (TEDU), down 9%... Leju (LEJU), down 4.2%... JA Solar (JASO), down 5%. LOWER: Hertz (HTZ), down 12.7% after downgraded at JPMorgan and Deutsche Bank following the company's decision to withdraw its FY14 guidance... NovaBay (NBY), down 35.2% after primary, secondary endpoints were not met in its NVC-422 study... RGS Energy (RGSE), down 14.9% after downgraded at Roth Capital following Q2 earnings results.
08:01 EDTHTZHertz renews agreement with Paragon Car Rental in Thailand
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06:09 EDTHTZHertz volatility expected to move on withdraw of FY14 financial guidance
Hertz Global volatility may move on withdraw FY14 financial guidance. Overall option implied volatility of 37 is its 26-week average according to Track Data, suggesting non-directional price movement.
05:53 EDTHTZHertz downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank downgraded Hertz to Hold after the company withdrew is forecast for the year. Shares were also downgraded this morning at JPMorgan.
05:52 EDTHTZHertz downgraded to Neutral from Overweight at JPMorgan
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