Private on-demand car service Uber says it will cut fares in 16 markets across the country.
The price drops vary widely from 2% to 34%.
The upstart company is more of a thorn in the sides of taxi companies than the car rental giants Avis Budget (CAR -0.5%) and Hertz (HTZ -0.4%), but its recent round of $258M in financing from Google Ventures keeps it a concept to watch.
CNBC reports that Carl Icahn has purchased 30M-40M shares (good for a 6.7%-8.9% stake) in Hertz, and is the activist to which Hertz responded with a poison pill. Previous reports had mentioned both Third Point and Corvex.
It's not just Dan Loeb, but Keith Meister's Corvex may also be involved with Hertz (HTZ +8.1%), and is said to be seeking an activist role, reports CNBC. Meister reportedly recently met with Hertz (HTZ +8.1%) management and those meetings were described as "constructive."