Cleveland research cut estimates. They see shipments of 5-7% for Sept after 15 in August. They still see the company hitting Q3 EPS. They have a neutral rating on the stock. Not sure if this is worthy of a 10% plunge.
the only news I see is that they are announced a dividend that was unchanged from previous quarter. Debt ceiling news sensitive??
Tepper is one of the most successful hedge fund managers in the business. He just added 74 million shares of htz to his portfolio this quarter....and no he's not selling today he's adding to his position. We are losing today, but those of us that have owned the stock for some time now know that this is a downtrend will be short lived. I've made a lot of $ following this guys stock picks, and this is the first setback I've had to endure. I'm quite certain that longs will be vindicated in the long run. How many car rental companies do you know of?? No competition folks...it's practically a monopoly.
Sentiment: Strong Buy