GameStop levels down, Hertz's new boss, Sotheby's chief off the auction block
Time for your daily dose of Trending Tickers, the stocks that you're tracking as measured by Yahoo Finance ticker searches:
Hertz (HTZ) shares are higher by more than 3% after hiring a new CEO John Tague. He comes to the rental car giant from United Airlines and is known for his no-nonsense management style. That is probably why Activist Investor Carl Icahn and the board unanimously selected Tague. Of course whatever his disposition may be Hertz' problems run deeper than attitude. The company has restated its past results and essentially announced that none of the numbers posted over the last few years are to be taken at face value.
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Sotheby's (BID) CEO, William Ruprecht is heading out the door. The 9% pop in the stock shows investors are happy to see him go. One of those is activist Investor Dan Loeb. Loeb was not a fan of Ruprecht to say the least, publicly criticizing Ruprecht in a letter earlier this year in which Loeb argued that the auction house had become bloated. That view likely contributing to the 18% drop in the stock this year.
GameStop (GME) shares getting killed, down 13% after revenues declined along with same-store sales which fell 2.3%. The largest game retailer blaming the delayed release of "Assassin’s Creed Unity". A drop in hardware and software sales for older Xbox 360 and PlayStation 3 models were also a factor. And by the way, management said the Holiday season may be tough too! Can't get any worse for GameStop.
Those are your Trending Tickers today. Tell us what stocks you're watching on Twitter using the hashtag #TrendingTickers
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