Hertz, GE HealthCare, Cisco: Trending tickers
Hertz (HTZ) shares are trending on Yahoo Finance after reporting a wider-than-expected loss for the fourth quarter. The rental car company's results were hit by its decision to sell off part of its fleet of Tesla (TSLA) vehicles. Hertz is now looking at ways it can cut costs in the coming months.
Shares of GE HealthCare (GEHC) are moving higher after posting better-than-expected fourth quarter results and despite guidance that was a little softer than expected.
Cisco (CSCO) shares are on the move after it was announced that its teaming up with Nvidia (NVDA) to launch enterprise network and infrastructure solutions that will help entities bolster their AI initiatives.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Stephanie Mikulich
Video Transcript
BRAD SMITH: It's been mixed for much of the morning stocks. They are on the move, though, as we're taking a look at the S&P 500. That is flat, just barely to the upside here. The Dow also trying to hold onto gains. The NASDAQ, though, in the red. Investors await more Fed speak from officials like Loretta Mester and Neel Kashkari. That's set to come later today.
SEANA SMITH: All right, let's get to some of those individual names. First up, it's Hertz. Shares now up about 3.5%, reversing some of the earlier declines that we saw in the stock. Now there was initial concern about the company's warning about higher repair costs and also the drop in residual value that was related to its Tesla fleet.
Now we know that Hertz offloaded about 20,000 EVs in the quarter. And that contributed to a wider than expected loss. The CEO there saying though that cost cuts is going to help a better position. Hertz looking ahead to 2025. Again, you're looking at gains of about 3.5%.
BRAD SMITH: We're also watching GE Healthcare this morning, out with results. The company reporting better than expected profit and revenue for the fourth quarter, offsetting a soft growth forecast and sending shares higher here right now. They're up by about 8%. The CEO saying he is confident in an improved landscape.
SEANA SMITH: And Cisco shares popping on news that it's teaming up with NVIDIA. We're looking at gains of nearly 1%. We can call it a pop, I guess. OK, NVIDIA on a cloud-based AI initiative for enterprise. Now the two tech giants are going to help companies build in-house AI computing as part of the effort to spread AI computing to a wider market increase, that wider market adoption there. But again, you're looking at Cisco shares up about 1%.
