Hertz Global Holdings, Inc.NYSE
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  • Wed, Nov. 16, 4:18 PM
    • Hertz Global (NYSE:HTZ) CFO Thomas Kennedy picked up 10K shares at $28.053 per share this week. Kennedy now holds 31.2K shares.
    • SEC Form 4
    • HTZ +0.04% AH to $26.45. Shares are down about 21% over the last week.
    | Wed, Nov. 16, 4:18 PM | 18 Comments
  • Mon, Nov. 14, 4:42 PM
    • New positions for Greenlight Capital as of Sept. 30: U.S. Steel (NYSE:X), and GEO Group (NYSE:GEO).
    • Major exits: Twenty-First Century Fox (NASDAQ:FOXA), Humana (NYSE:HUM), Perrigo (NASDAQ:PRGO), AmerisourceBergen (NYSE:ABC), Hertz (NYSE:HTZ), Community Health (NYSE:CYH), Lamar Advertising (NASDAQ:LAMR), Vodafone (NASDAQ:VOD).
    • 13F
    | Mon, Nov. 14, 4:42 PM | 23 Comments
  • Tue, Nov. 8, 7:03 PM
    | Tue, Nov. 8, 7:03 PM | 16 Comments
  • Tue, Nov. 8, 12:40 PM
    | Tue, Nov. 8, 12:40 PM
  • Tue, Nov. 8, 9:58 AM
    • It's not a 2-for-split  for Hertz Global (NYSE:HTZ), but a complete collapse in investor confidence after the company reported weak earnings and issued soft guidance. Shares are currently down 49.5% from yesterday's close.
    • CEO John Tague explained the misery best: "A customary vehicle depreciation rate review near the close of the third quarter resulted in a substantial depreciation adjustment, particularly on compact and mid-sized vehicles, that together with rental volume at the low end of our expectations as well as higher net operating and administrative expenses impacted our performance."
    • Deutsche Bank was caught in the line of fire with a Buy rating into the earnings report (reset to Neutral today), while Carl Icahn may be scratching his head after boosting his Hertz stake five months ago.
    • Previously: Hertz Global Holdings misses by $1.17, misses on revenue (Nov. 7)
    • Previously: Hertz nosedives 25% after Q3 miss, poor guidance (Nov. 7)
    | Tue, Nov. 8, 9:58 AM | 11 Comments
  • Tue, Nov. 8, 9:17 AM
    | Tue, Nov. 8, 9:17 AM
  • Mon, Nov. 7, 5:51 PM
    • Hertz Global Holdings (HTZ +7.3%) has slid 25.7% after hours after turning in a bad miss in Q3 earnings and updated guidance that expects more of the same.
    • "We are making progress in foundational aspects of our long-term business improvement plan, implementing new systems, improving customer service levels and launching new products," says CEO John Tague; "However, our near-term financial performance continues to be uneven." The company took a big depreciation adjustment to go along with low rental volume and higher expenses.
    • In the U.S., transaction days were up 1% to 38.28M, while revenue available per car day fell 4% to $36.27. Vehicle utilization fell to 82% from 83%, and net depreciation (per unit per month) rose 14% to $304.
    • Internationally, transaction days rose 2% to 15.13M; revenue available per car day fell 2% to $36.11. Utilization was near flat at 81%, and net depreciation rose 1% to $188.
    • The company's now guiding to a revenue decline of 2-3% and EPS of $0.51-$0.88 (below consensus for $2.92). It sees EBITDA of $575M-$625M, well below consensus for $873M.
    • Press Release
    | Mon, Nov. 7, 5:51 PM | 25 Comments
  • Mon, Nov. 7, 5:37 PM
    • Hertz Global Holdings (NYSE:HTZ): Q3 EPS of $1.58 misses by $1.17.
    • Revenue of $2.54B (-1.6% Y/Y) misses by $60M.
    • Shares -18.3% AH.
    • Press Release
    | Mon, Nov. 7, 5:37 PM
  • Sun, Nov. 6, 5:35 PM
  • Sat, Oct. 22, 10:42 AM
    • While Tesla Motors (NASDAQ:TSLA) may have grabbed some headlines this week for its ambitious goals with autonomous driving (SAE level 5), the technology is being widely discussed across industries as a potential future reality.
    • At a real estate conference in New York this week, a panel member called autonomous vehicles the biggest tech news concerning real estate in the last ten years. Some see a future reversal of urbanization trends in a development that could have significant investment implications.
    • City planners and architects are already thinking of next-gen design. A paper titled "Beyond Google's Cute Car" (.pdf version) is a good example of how cities are being reimagined.
    • Then there's this from the man who designed the 2015 Ford Mustang. "The next 10 years in this business is going to be the biggest change and challenge since the turn of the last century when cars took over for horses," said Ford design chief Moray Callum. Ford (NYSE:F) aims to have a high-volume, fully autonomous SAE level 4-capable vehicle in commercial operation in 2021.
    • Self-driving car development is a topic of discussion on FedEx (NYSE:FDX), UPS (NYSE:UPS), Lyft (Private:LYFT), Uber (Private:UBER), Hertz Global (NYSE:HTZ), Google (GOOGL, GOOG), Avis Budget (NASDAQ:CAR), Domino's Pizza (NYSE:DPZ) and Nvidia (NASDAQ:NVDA). Earnings season is just heating up, but a host of companies -- including OTCPK:TMOAF, OTCPK:DDAIF, OTCPK:VOLVY, MXIM, CPRT,  WBC, GNTX  and XLNX -- have already talked up the trend on their conference calls. GM reports earnings this week and will update on any self-driving Chevy Bolt plans.
    • Looking ahead, insurance companies, chipmakers, truckers and cybersecurity firms (NYSEARCA:HACK) will be firmly in the self-driving conversation.
    • So who has a profitable trade idea off of the evolution of cars?
    | Sat, Oct. 22, 10:42 AM | 229 Comments
  • Tue, Sep. 27, 2:46 PM
    • Avis Budget (CAR -7.1%) is sharply lower after some unsettling comments from execs today at the Deutsche Bank's Leveraged Finance Conference.
    • Demand in Europe fell off for Avis due to the combined impact of security concerns, Brexit, the Olympics, and economic factors.
    • Avis conference presentation (webcast)
    • Shares of Hertz Global Holdings (HTZ -8.8%) are faring even worse on the day.
    | Tue, Sep. 27, 2:46 PM
  • Tue, Sep. 20, 2:30 AM
    • In its most comprehensive statement yet on autonomous vehicles, the Obama administration said it would consider seeking the power to approve technology for self-driving cars and said U.S. states should not issue separate rules.
    • The U.S. Transportation Department also included a 15-point set of "safety assessment" guidelines, covering issues like cybersecurity, black box recordings and how a vehicle would deal with potential ethical conundrums.
    • Related tickers: F, GM, TM, GOOG, GOOGL, TSLA, MBLY, DLPH, TM, HTZ, CAR, HMC, UBER, LYFT
    | Tue, Sep. 20, 2:30 AM | 57 Comments
  • Thu, Sep. 8, 9:19 AM
    • Hertz Global Holdings (NYSE:HTZ) announces that it intends to offer $500M of senior notes through a subsidiary.
    • The company says the notes are expected to be guaranteed on a senior unsecured basis by the domestic subsidiaries of Hertz that guarantee its senior credit facilities from time to time.
    • In connection with the new offering, Hertz intends to redeem a principal amount of 6.75% Senior Notes due 2019 equal to the gross proceeds of the new issue.
    • Source: Press Release
    | Thu, Sep. 8, 9:19 AM | 1 Comment
  • Tue, Sep. 6, 1:28 PM
    • Morgan Stanley sees significant upside for Hertz Global (HTZ -0.3%) as it resumes coverage on the car rental stock.
    • The investment firm thinks Hertz will see its first earnings upgrade in years.
    • Shares are rated at Overweight by MS and assigned a price target of $57.
    | Tue, Sep. 6, 1:28 PM
  • Fri, Aug. 26, 1:06 PM
    • Macquarie weighs in on the major car rental stocks in a fresh note to clients.
    • The investment firm thinks Avis Budget Group (CAR +0.7%) will benefit from higher rental prices and see margins improve in Europe, while execution issues are seen continuing to plague Hertz Global (HTZ +0.3%).
    • Coverage on Avis is started off at Outperform, while Hertz is set at Neutral with a $56 price target.
    | Fri, Aug. 26, 1:06 PM | 3 Comments
  • Thu, Aug. 25, 8:28 AM
    • Singapore became the first country in the world to offer a self-driving taxi service with the targeted launch of nuTonomy. A full roll-out of an autonomous taxi service across the nation is expected as early as 2018.
    • While self-driving cars from Google (GOOG, GOOGL), Baidu (NASDAQ:BIDU), and others have been out testing on the roads for the last few years, nuTonomy's service is the first commercial application of the nascent technology open to public use. Uber (Private:UBER) plans to test self-driving cars in Pittsburgh next month.
    • NuTonomy will use human drivers as backups in the initial roll-out of the Renault (OTC:RNSDF, OTCPK:RNLSY) Zoe and Mitusubishi (OTCPK:MMTOF) i-MiEV taxis before moving to full autonomy.
    • Other companies with autonomous vehicles on their radar include Mobileye (NYSE:MBLY), Delphi Automotive (NYSE:DLPH), Volvo (OTCPK:GELYF), Ford (NYSE:F), Tesla Motors (NASDAQ:TSLA), Toyota (NYSE:TM), Hertz Global (NYSE:HTZ), Avis Budget (NASDAQ:CAR), Nissan (OTCPK:NSANY), BMW (BAMXY), Intel (NASDAQ:INTC), Honda (NYSE:HMC), FedEx (NYSE:FDX), Lyft (Private:LYFT), and General Motors (NYSE:GM) to name just a partial list -- although analyzing which stocks may benefit from a future of a mix of self-driving cars on the road is a tricky business.
    • Previously: Scientists warn on self-driving car rush (July 8)
    • Previously: Self-driving car push adds a little buzz for restaurants (Aug. 6)
    | Thu, Aug. 25, 8:28 AM | 107 Comments