Key Developments: Hertz Global Holdings Inc (HTZ.N)

HTZ.N on New York Stock Exchange

28.70USD
11 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Ryan & Maniskas, LLP announces class action lawsuit against Hertz Global Holdings Inc
Wednesday, 4 Dec 2013 07:15pm EST 

Ryan & Maniskas, LLP:Says that a class action lawsuit has been filed in the US District Court for the District of New Jersey on behalf of purchasers of Hertz Global Holdings Inc common stock during the period between Feb. 25, 2013 and Nov. 4.Says the complaint charges Hertz and certain of its officers and directors with violations of the Securities Exchange Act of 1934.Says the complaint alleges that during the class period, defendants issued materially false and misleading statements regarding the company's financial performance and future prospects.  Full Article

Tom Kennedy appointed Hertz Global Holdings Inc CFO
Monday, 2 Dec 2013 05:16pm EST 

Hertz Global Holdings Inc:Says Thomas (Tom) C. Kennedy has been appointed Senior Executive Vice President and Chief Financial Officer, effective December 9, 2013.Says David J. Rosenberg, who has been serving as interim Chief Financial Officer since October 1, 2013, will assist Mr. Kennedy during a transition period, before taking on another senior role in the Company's Finance area.  Full Article

Glancy Binkow & Goldberg LLP announces class action lawsuit on behalf of investors of Hertz Global Holdings Inc
Friday, 22 Nov 2013 07:28pm EST 

Glancy Binkow & Goldberg LLP:Says filing of a class action lawsuit in the US District Court for the district of New Jersey on behalf of a class comprising all purchasers of the common stock of Hertz Global Holdings Inc.Says class period between Feb. 25 and Nov. 4, inclusive.Says Hertz Global Holdings and certain of its executive officers misrepresented or failed to disclose that Hertz was losing sales in the important airport market, which offers higher rental prices and margins than off-airport, longer-term replacement car locations.Says Hertz had significant undisclosed exposure to Advantage subsidiary Simply Wheelz’s insolvency resulting from its having transferred much of its older, less-valuable fleet to Advantage in the divestiture and valuing the transferred fleet at improperly high prices.Says Hertz and Advantage were engaged in a disagreement over the value of the Advantage fleet assets.Says Hertz was carrying the value of its fleet transferred to Advantage and its subsidiary Simply Wheelz on its books at an artificially inflated level.  Full Article

Robbins Geller Rudman & Dowd LLP Files Class Action Suit against Hertz Global Holdings, Inc
Wednesday, 20 Nov 2013 05:24pm EST 

Robbins Geller Rudman & Dowd LLP announced that a class action has been commenced in the United States District Court for the District of New Jersey on behalf of purchasers of Hertz Global Holdings, Inc. ("Hertz") common stock during the period between February 25, 2013 and November 4, 2013 (the "Class Period"). The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's financial performance and future prospects, failing to disclose that: (a) Hertz was losing sales in the all-important airport market, which offers higher rental prices and margins than off-airport, longer-term "replacement car" locations; (b) Hertz had undisclosed exposure to the insolvency of Advantage Rent A Car ("Advantage") subsidiary Simply Wheelz LLC ("Simply Wheelz"), a wholly-owned subsidiary of Hertz that operated its Advantage business; (c) Hertz and Advantage were engaged in a disagreement over the value of the Advantage fleet assets; (d) Hertz was carrying the value of its fleet transferred to Advantage and its subsidiary Simply Wheelz on its books at an artificially inflated level; and (e) as a result of the foregoing, Hertz lacked a reasonable basis for the positive statements about its business, earnings and prospects during the Class Period.  Full Article

Hertz Global Holdings Inc Reaffirms FY 2013 Guidance
Monday, 4 Nov 2013 10:20pm EST 

Hertz Global Holdings Inc announced that for fiscal 2013, it expects worldwide revenues in the range of $10.800 billion-$10.900 billion, Corporate EBITDA in the range of $2.120 billion-$2.190 billion, adjusted pre-tax income in the range of $1.200 billion-$1.270 billion, adjusted net income in the range of $780 million-$830 million and adjusted diluted earnings per share (EPS) in the range of $1.68-$1.78. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $10.8 billion, Pre-tax Profit of $1.22 billion, EBITDA of $2.156 billion, Net Income of $799 million EPS of $1.74 for fiscal 2013.  Full Article

Hertz Global Holdings Inc's Subsidiary Opens New Location In Paso Robles, CA
Monday, 28 Oct 2013 10:00am EDT 

Hertz Global Holdings Inc announced that its wholly owned subsidiary Hertz Equipment Rental Corporation (hertzequip.com) has opened a brand new 15,000 square foot location in Paso Robles, California to serve the growing non-residential construction, oil and gas, and agricultural markets. Featuring a retail showroom, the facility provides a wide range equipment for rent or sale including aerial, compaction, earth moving, power generators, pumps, and small tools.  Full Article

Hertz Global Holdings Inc Announces Resignation Of CFO-Form 8-K
Friday, 27 Sep 2013 04:06pm EDT 

Hertz Global Holdings Inc reported in its Form 8-K that on September 23, 2013, Hertz Global Holdings, Inc. (Hertz Holdings) and its wholly-owned subsidiary The Hertz Corporation announced that Elyse Douglas resigned from her position as Senior Executive Vice President and Chief Financial Officer (CFO) of the Companies, effective October 1, 2013. In connection with Ms. Douglas’s resignation, on September 23, 2013 the Companies announced that David J. Rosenberg, will succeed Ms. Douglas as Chief Financial Officer (CFO) of the Companies on an interim basis.  Full Article

Hertz Global Holdings Inc Revises FY 2013 Revenue Guidance
Thursday, 26 Sep 2013 05:45am EDT 

Hertz Global Holdings Inc revised fiscal 2013 Guidance, it now expects Revenues to be in the range of $10.8-$10.9 billion, Adjusted Pre-Tax Income in the range of $1.2-$1.27 billion, Corporate EBITDA in the range of $2.12-$2.19 billion, Adjusted Net Income in the range of $780-$830 million and Adjusted EPS in the range of $1.68-$1.78. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $10.9 billion, Pre-tax Profit of $1.33 billion, EBITDA of $2.25 billion, Net Income of $867.39 million EPS of $1.89 for fiscal 2013.  Full Article

Hertz Global Holdings Inc Announces New Global Partnership With Relais & Chateaux
Tuesday, 27 Aug 2013 08:00am EDT 

Hertz Global Holdings Inc announced that it has signed an exclusive global partnership with Relais & Chateaux, a world association of luxury hotels and restaurants. Through the high profile, three year agreement customers of both companies will benefit from exclusive offers and preferential rates. The partnership builds on the relationship between Hertz and Relais & Chateaux in France.  Full Article

Hertz Global Holdings Inc Reaffirms FY 2013 Revenue Guidance
Monday, 29 Jul 2013 06:00am EDT 

Hertz Global Holdings Inc has reaffirmed its guidance, provided on February 25, 2013, for fiscal 2013 consolidated revenues to be between $10.85 billion and $10.95 billion. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $10.9 billion for fiscal 2013.  Full Article

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