Featured Post

Latest Gold News

Fed doves supporting gold Stronger rand crushing South African miners Economic power could shift further East with Hong Kong gold exch...

Tuesday, March 29, 2011

Hertz (HTZ) Drops on Outlook, Shareholder Sales

Even though Hertz (HTZ) guided a little better than analysts' estimates, it's still a dismal outlook, as the company expects a net loss of $17.3 million to $22.2 million.

Combined with news on Monday Bank of America (NYSE:BAC), Clayton, Dubilier & Rice LLC and The Carlyle Group sold an approximate combined total of 50 million Hertz Global shares, has the stock reeling.

The guidance from the company was the result of global sales falling because of winter storms they said, although the higher price of gas may be part of the story as well, and will most likely be going forward as companies and consumers again get more tight with their money.

Hertz was trading at $15.45, falling $0.82, or 5.04 percent, as of 2:07 PM EDT.

No comments: