Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

How Is The Market Reacting To These Earnings Results Today?

Hertz Global Holdings Inc (NYSE:HTZ) is down by 5.64% in morning trading after reporting a year-over-year revenue decline of 5% to $2.98 billion, which missed estimates by $50 million. Revenue was hit hard for foreign exchange headwinds, which contributed to a 13.6% revenue decline in its international auto rental business. Car rental revenue did also fall in the U.S however, by 1.9%. Earnings were in-line at $0.52 per share, up by $0.20 year-over-year, though by just $0.05 when excluding non-recurring gains. Activist Carl Icahn is a long-term shareholder of Hertz Global Holdings Inc (NYSE:HTZ), which hurt him during the third quarter as shares fell by 7.67%. Barry Rosenstein, who got stung by QUALCOMM, Inc. (NASDAQ:QCOM)’s results last week also held a large position in Hertz, potentially setting him up for a very disappointing quarter.

Follow Herc Holdings Inc (NYSE:HRI)
Trade (NYSE:HRI) Now!

Like Qualcomm last week, Priceline Group Inc (NASDAQ:PCLN) issued weak guidance for its current financial quarter, which has its shares down by 5.68% today. EPS was projected to be $11.10-to-$11.90 for the fourth quarter, while analysts were predicting $12.38 according to Bloomberg data. The weak guidance has put a damper on what was a solid third quarter, with revenue of $3.10 billion and earnings per share of $25.35. Analysts had predicted EPS of $24.23 for the completed quarter. Priceline Group Inc (NASDAQ:PCLN) was losing some of the support it had from the investors that we track, as the number of them which held long positions in the stock fell to 71 from 82 during the second quarter. Jim Simons, Louis Bacon, and Paul Tudor Jones were among the investors to close out long positions in Priceline during the quarter.

Follow Booking Holdings Inc. (NASDAQ:BKNG)
Trade (NASDAQ:BKNG) Now!

Disclosure: None

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading...