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Here are Friday's biggest calls on Wall Street: Bank of America reiterates Alphabet as buy Bank of America said it is sticking with its buy rating on Alphabet following earnings Thursday. Deutsche Bank reiterates Snap as buy Deutsche Bank said it is sticking with its buy rating on the stock following earnings on Thursday. " Goldman Sachs reiterates Intel as sell Goldman Sachs said it is standing by its sell rating on Intel shares following earnings Thursday. Benchmark upgrades Western Digital to buy from hold Benchmark upgrades Western Digital following the company's "major upside" earnings report. Bank of America reiterates Nvidia as buy Bank of America said Nvidia remains a top idea at the firm.
Persons: Goldman Sachs, prioritization, Maxim, Bank of America downgrades Hertz, Raymond James, Knight, Morgan Stanley downgrades Mobileye, Morgan Stanley, Piper Sandler, Wells, Dow Organizations: Bank of America, Deutsche, Deutsche Bank, Microsoft, Intel, TAM, Apple, Barclays, Enphase Energy, Digital, " Bank of America, Sonic Automotive, underperform Bank of America, Underperform, of America, Nvidia, AMD, MU, Caterpillar, Air Defense, Swift Transportation, EPAM, IT Services, Materials, Compass Minerals, JPMorgan, Dow, Teledyne, HSBC Locations: China, underperform, Israel
Screenshot of used Tesla listing from Hertz Car Sales website. Hertz Car SalesIt's a screaming deal for shoppers in the market for a used Tesla or any budget-minded EV shopper, a demographic slowly making up most of the electric car market. AdvertisementMileage and battery usageA used Tesla that has been in a rental fleet is likely to used much more frequently than one that's been personally owned. You can see that in the difference in mileage when you look on Kelley Blue Book for a used Model 3. Screenshot of a used Tesla Model 3 listing on KBB Business InsiderAnother $20,125 Model 3 we found on the Hertz website in January, a 2021 model, was listed with 92,789 miles.
Persons: , Hertz, Kelley, Tesla, iSeeCars Organizations: Service, Hertz, Business, Tesla, KBB, EV, quicken Locations: Southeast Michigan
Frank A. Olson, who as a top executive of Hertz cast the running back O.J. Simpson as the star of the company’s commercials — a corporate marriage that shined up both parties and that lasted two decades, until Mr. Simpson was charged in a double homicide in 1994 — died at his home in Palm Beach, Fla., on Wednesday, the same day Mr. Simpson died. Mr. Olson was 91. More than business partners, Mr. Olson and Mr. Simpson, both San Francisco natives, forged an alliance, beginning in the 1970s, that spoke of that mutually beneficial zone where corporate and social life intertwine. Mr. Olson, an avid golfer, sponsored Mr. Simpson for membership in the private Arcola Country Club in Paramus, N.J., where in 1992 Mr. Simpson, a former Heisman Trophy winner and Pro Football Hall of Famer, became the first Black member.
Persons: Frank A, Olson, Simpson, , Covid, Christopher, Blake, . Olson, Hertz, pitchman, intertwine, Nicole Brown Simpson, Ronald L, Goldman, ” Mr Organizations: Hertz, Arcola Country Club, Heisman, Pro Football Hall of Famer Locations: Palm Beach, Fla, Francisco, Arcola, Paramus, N.J, Los Angeles
Executives at the rental car company Hertz knew what they wanted to project to potential business travelers in the 1970s: speed, reliability and efficiency. They quickly realized that one man radiated all of those qualities. So they made the football player O.J. Simpson, who died on Wednesday at the age of 76, the first Black star of a national television advertising campaign. “They had a slogan — the Superstar in Rent‐a‐Car — and I was the current reigning superstar as far as the competition was concerned,” Simpson told The New York Times in 1976.
Persons: Hertz, O.J, Simpson, , ” Simpson Organizations: New York Times
A vast swath of North America will soon be plunged into darkness. Though momentary, the total solar eclipse on Monday has already proved lucrative. Across the United States, Mexico and Canada, towns and villages have been planning what could be the biggest tourist attraction for many small cities. “We don’t usually have this kind of tourism — it’s not common,” said Edgar Augusto González-Zatarain, the mayor of Mazatlán, Mexico. In Oklahoma, the Choctaw Nation had seen a 200 percent increase as of mid-March in reservations at its resorts and casinos.
Persons: , Edgar Augusto González, Hertz, Airbnb Organizations: Choctaw Nation Locations: North America, United States, Mexico, Canada, Mazatlán, Montreal, Oklahoma
Over the past few years, as electric vehicle sales increased substantially and car companies announced an onslaught of new battery-powered models, it seemed that electric cars were a near-term inevitability. Hertz is selling off about a third of its electric cars and Audi is slowing its transition to E.V.s. But there’s also a more subtle issue at play, one that won’t be easily resolved: Electric cars are too boring. On the list of things wrong with the world, “electric cars are dull” isn’t in the Top 5. Driving, as we all knew it before the arrival of mass-market electric cars a little more than a decade ago, involved familiar rituals that carved out a place in our collective psyche.
Persons: Tesla, Hertz, there’s, revel Organizations: Ford, Audi, Chrysler Pacifica Locations: upshifts
Mizuho reiterates Nvidia as a top pick Mizuho says Nvidia is still a top idea at the firm. Morgan Stanley initiates Mural Oncology at overweight Morgan said in its initiation of the biotech company that it sees a long "cash runway" lasting through 2025. Morgan Stanley downgrades Block to underweight from equal weight Morgan Stanley sees growth headwinds for the payment tech company. Morgan Stanley upgrades Zeta to overweight from equal weight Morgan Stanley said the marketing technology company has an underappreciated valuation. " Morgan Stanley reiterates Tesla at overweight Morgan Stanley lowered its price target to $310 per share from $320. "
Persons: Bernstein, Reddit, underperform Bernstein, Raymond James, Raymond James downgrades Bumble, Barclays downgrades Ferrari, it's, Mizuho, Goldman Sachs, Goldman, Morgan Stanley, Morgan, Wolfe, underperform Wolfe, Piper Sandler, Piper, Synopsys, Morgan Stanley downgrades Block, Dave, Buster's, Jefferies, Zeta, Oppenheimer, Ball, Wayfair, Wynn, bullish, Tesla, Goldman Sachs downgrades Hertz Organizations: Citi, Barclays, Ferrari, Nvidia, JPMorgan, Avis, UBS downgrades Bank of America, UBS, Apple, AstraZeneca JPMorgan, AstraZeneca, Amazon, AWS, Meta, General Motors, GMC, Chevrolet, Buick, GM, DFS, Mizuho, Eversource Energy Locations: Avis, MURA, Charlotte, Wayfair, Capital, Macau
Hertz Global — The car rental stock slid nearly 5% following a downgrade to sell from neutral at Goldman Sachs. Wayfair — The home-focused e-commerce retailer rose nearly 5% following an Evercore ISI upgrade to outperform from in line. For the period, the retailer posted adjusted earnings of 26 cents per share on $1.56 billion in revenue. Conagra reported earnings of 69 cents per share on revenue of $3.03 billion, exceeding FactSet's estimates of 65 cents per share on revenue of $3.01 billion. Intuitive Machines — The space stock soared nearly 11% after Intuitive won a NASA contract for $30 million to build a lunar terrain vehicle.
Persons: Goldman Sachs, Lizzie Dove, Morgan Stanley, Wayfair, Levi Strauss —, Conagra, Lamb Weston, FactSet, — CNBC's Alex Haring, Sarah Min, Samantha Subin Organizations: Hertz, Goldman, Zeta Global, Zeta's, LSEG, NASA
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThursday’s rapid fire: SharkNinja, Hertz Global, Levi Strauss, Conagra Brands and BlockCNBC’s Jim Cramer on Thursday discussed the stocks of SharkNinja, Hertz Global, Levi Strauss, Conagra Brands and Block
Persons: Levi Strauss, Jim Cramer Organizations: Hertz, Conagra Brands
Zeta Global — The software stock added 13% after Morgan Stanley upgraded the software firm to an overweight rating from equal weight. Conagra Brands — The consumer packaged goods food company climbed 5% after exceeding analysts' estimates for its fiscal third-quarter earnings and revenue. Lamb Weston — Shares plunged 19% after the fries producer missed its third-quarter earnings and revenue. Lamb Weston posted third-quarter adjusted earnings of $1.20 per share, less than the $1.45 analysts polled by FactSet had expected. Solar stocks — Solar stocks rose higher during Thursday's session as the yield on the benchmark 10-year Treasury moved lower.
Persons: Goldman Sachs, Morgan Stanley, Wayfair, foresees, Levi Strauss, Conagra, FactSet . Lamb Weston —, Lamb Weston, FactSet, Grindr, Raymond James, Solventum, , Alex Harring, Hakyung Kim Organizations: Hertz, Goldman, Investors, Zeta, Conagra, Alaska Air Group —, Boeing, Reuters, 3M, Treasury, Energy, SolarEdge Technologies Locations: Alaska
The company works on the business-to-business side of the industry, designing and creating scents for various companies worldwide. Givaudan launched Myrissi, its AI tool, last year to demystify fragrance development. A new kind of signature scentSome fragrance brands use tech to decipher scent preferences and create personalized scents. Chaille de Nere told BI he didn't want that to happen in the fragrance industry. While AI's role in the beauty industry has yet to take shape, the fragrance industry is betting on the technology.
Persons: Rachel Herz, Herz, Frederik Duerinck, Hertz, Johan Chaille de, Givaudan, Sandra Kinnmark, Angelica Lonnberg, Caroline Borg, Kinnmark, Duerinck, EveryHuman, TJ, Chaille de Nere, perfumers, Chaille de Organizations: Brown University, NOS, Emotiontech, Hallwyl, NOS Emotiontech, Union Locations: Swedish, Highland, Stockholm, London
Tokyo’s Nikkei 225 index rose 0.7% to 40,003.60, while the dollar rose to 150.35 Japanese yen from 149.14 yen. Australia's S&P/ASX 200 added 0.4% to 7,703.20 after Australia’s central bank kept its benchmark interest rate steady at 4.35% for a third consecutive meeting. This week's highlight for Wall Street will likely be the Federal Reserve’s meeting on interest rates, which ends on Wednesday. The widespread expectation is for the central bank to hold its main interest rate steady at its highest level since 2001. But Fed officials will also give updated forecasts for where they see interest rates heading this year and in the long run.
Persons: Australia's, Tesla, Stephen Scherr, Wayne “ Gil ”, He’s, It's Organizations: Bank of Japan, Nikkei, Reserve Bank, Bank of England, Dow Jones, Nasdaq, Nvidia, Big Tech, Hertz Global Holdings, Cruise, Delta Air Lines, Boeing, Workers, New York Mercantile Exchange, Brent Locations: BANGKOK, Asia, Shanghai, Seoul, U.S, Oregon, San Francisco
Tesla : Shares rose 5% after the electric vehicle maker announced plans to increase prices of its Model Y cars in April. Super Micro Computer : Shares fell more than 2% Monday, coinciding with the buzzy maker of artificial intelligence servers officially joining the S & P 500. Vertiv Holdings : Bank of America boosted its price target on Vertiv shares to $90 each from $80, citing more sustained revenue and earnings growth projections due to AI-related expansion in data centers overall. Vertiv makes electrical products used in data centers, among other areas. He noted the Club owns electrical equipment maker Eaton Corp. as a way to play the growth of data centers due to AI's power-intensive needs.
Persons: Jim Cramer's, It's, Jim Cramer, Stephen Scherr, Hertz, Morgan Stanley, Cramer, Eli Lilly, Vertiv Organizations: CNBC, Club, Hertz, PepsiCo, Pepsi, Novo Nordisk, Super, Vertiv Holdings, Bank of America, Eaton Corp
Hertz CEO out following electric car ‘horror show’
  + stars: | 2024-03-18 | by ( Chris Isidore | ) edition.cnn.com   time to read: +5 min
New York CNN —Trouble and turmoil continue at rental car company Hertz. But the problem for Hertz wasn’t necessarily that the cars were electric, and customers simply do not want to drive electric cars. There might not be a charging station, or enough time, for a rental car customer to charge an EV, Ives said. These cases sometimes resulted in Hertz customers being arrested and even imprisoned. Scherr wasn’t the one who decided to make the big bet on EV demand by rental car customers.
Persons: Stephen Scherr, Goldman Sachs, He’ll, Gil West, Hertz, EVs, Tesla, , Daniel Ives, Ives, ” Ives, Scherr, Mark Fields, Ford, Paul Stone, Stone Organizations: New, New York CNN, Hertz, Delta Air Lines, General Motors, American, Wedbush Securities, EV, Volvo, Avis Budget Group, Tesla, Avis Budget, Enterprise Locations: New York, EVs, Tesla, Polestar
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMonday’s rapid fire: Tesla, Hertz Global, PepsiCo, Super Micro Computer and VertivCNBC’s Jim Cramer on Monday weighed in on market-moving headlines involving Tesla, PepsiCo, Super Micro Computer and more.
Persons: CNBC’s Jim Cramer Organizations: Hertz Global, PepsiCo, Super Micro, Super Micro Computer
Tesla's market value has tumbled $234 billion this year, or more than McDonald's or Disney are worth. Elon Musk's EV maker is close to losing more value than Netflix or Coke's entire market caps. AdvertisementTesla's market value has plunged by an astounding $234 billion this year — that's considerably more than McDonald's ($212 billion), Disney ($202 billion), and Cisco ($199 billion) are worth. That decline is close to the entire market caps of Netflix ($259 billion) and Coca-Cola ($257 billion), and larger than the entire market value of American Express ($158 billion) and Nike ($148 billion). It's also worth noting that Tesla is still worth more than 10 times the value of either General Motors ($46 billion) or Ford ($49 billion).
Persons: , It's, He's, LVMH's Bernard Arnault, Jeff Bezos, Tesla, Musk, hasn't, Ross Gerber Organizations: Elon Musk's, Netflix, Service, Disney, Cisco, American Express, Nike, FedEx, Bloomberg, Motors, Ford Locations: China
Global mergers and acquisition activity will soar this year, and several names could benefit from the comeback, according to Morgan Stanley. The firm expects global M & A volume activity to rise by 50% this year compared to 2023. "We believe that a cyclical and structural rebound in M & A is coming," Morgan Stanley said in a note titled "Stocks with Elevated Likelihood of Receiving an Offer," which was released Monday. Morgan Stanley pointed out that 2021 to 2023 could have seen a drop of activity worth between $4 trillion and $11 trillion. Morgan Stanley said it has no information about M & A activity involving the companies.
Persons: Morgan Stanley, Morgan, Stephen Ju, Morgan Stanley's Organizations: Health, Sarepta Therapeutics, Tenet Healthcare, Analysts, BMO Capital Markets, UBS, Hertz Global Holdings Locations: Europe
CNN —Back in 2019, Elon Musk made an astonishing claim for Tesla vehicles. But four years after Musk’s 2019 prediction, the average used Tesla Model 3 is selling for $29,000. Sticker prices for new Teslas dropped about 21% over the past year, according to Cox Automotive. Logically, people expect to pay less for a used car than they would for a new one. Why buy a used car if you could get a brand new vehicle for only a little more or maybe even less, after all?
Persons: Elon Musk, Musk, , Tesla, , FSD, Ivan Drury, Wall, Teslas, Hertz, ” Hertz, Stephen Scherr, ” Drury, EVs, Drury Organizations: CNN, Cox Automotive, EV, Hyundai, Kia, Audi, Volkswagen, Edmunds.com, Tesla Locations: America, Ford, Edmunds.com, Colorado
To help solve this issue, Biome Renewables has crafted a quieter wind turbine modeled after owl wings. How owls can help make quieter wind turbinesOwls are master hunters in part because of how quietly they spring up on prey. The researchers found that the fringed wing was up to 6.5 dB quieter than the bare wing, depending on the angle of flight. At these frequencies, Church said the FeatherEdge is 3.9 dB quieter than a standard serrated edge blade, and over 5 dB quieter than a completely bare blade. Due to regulations around wind farm noise in the US, wind turbines often run in a noise-reduction mode, which costs a lot of energy.
Persons: , Ryan Church, Spikes, Anton Frunze, Church, Jonathan Alcorn, It's Organizations: Service, Business, Reinhardt, Getty, Reuters Locations: North America, Europe
Apple appears to be tapping out as car companies scramble to adjust EV plans. AdvertisementThe Apple car is dead (apparently). The scrapped plans would be a grim sign for the EV market in the US, which has suffered from flagging demand. As BI reported earlier this month, car companies are rethinking EV plans in response to softening demand for pure electric cars. Automakers shift EV plansLike Apple, US auto companies have been shifting plans to account for softer EV demand.
Persons: , Apple's, BYD, We're, Stella Li, Li, Mary Barra, Elon Musk's Tesla, Musk, Harald Wilhelm, Mercedes Organizations: Apple, Service, EV, Bloomberg, Yahoo Finance, General, Volvo, Polestar, Benz Locations: North America
Read previewThe Apple car is dead (apparently). The scrapped plans would be a grim sign for the EV market in the US, which has suffered from flagging demand. As BI reported earlier this month, car companies are rethinking EV plans in response to softening demand for pure electric cars. Apple's "Project Titan" car was also supposed to be an autonomous, expensive technology that most car companies have already put on the back burner. Automakers shift EV plansLike Apple, US auto companies have been shifting plans to account for softer EV demand.
Persons: , Apple's, BYD, We're, Stella Li, Li, Mary Barra, Elon Musk's Tesla, Musk, Harald Wilhelm, Mercedes Organizations: Service, EV, Apple, Bloomberg, Business, Yahoo Finance, General, Volvo, Polestar, Benz Locations: North America
How baleen whales, which include humpback whales, are able to sing underwater has eluded scientists since whale songs were first discovered more than 50 years ago. A baleen whale’s larynx is shaped differently from other mammals. This structural adaptation allows the leviathan to breathe massive amounts of air in and out when they go to the surface, according to the study. Air sacs also evolved in a way that may allow a baleen whale to recycle air while creating vocal sounds, according to researchers. This means that most boating noises mask calls between baleen whales, reducing the distance over which they can communicate.
Persons: Olga Filatova, , , Coen Elemans, ” Elemans, Elemans, they’ve, Patricia Jaqueline, Karim Iliya, James Rule, Ellen Coombs, Peter Buck Organizations: CNN, University of Southern, London’s, Museum, Smithsonian National Museum of Locations: Bering, University of Southern Denmark
Renting a Car Abroad: Don’t Get Taken for a Ride
  + stars: | 2024-02-21 | by ( Eric A. Taub | ) www.nytimes.com   time to read: +1 min
“Throw the keys through the kiosk’s open window. We’ll get the car when we open later”: Those slightly unorthodox drop-off instructions I once received from a Hertz manager in Croatia illustrate some of the differences U.S. travelers might encounter when renting a car abroad. It pays to familiarize yourself with the local policies and protocols ahead of time. Here’s what you need to know before you accept the keys. You must apply for one in the country that issued your regular driver’s license.
Persons: We’ll, It’s Organizations: AAA, State Department Locations: Croatia, U.S, Australia, Austria, Bulgaria, Czech Republic, Estonia, Italy, Japan, Poland, Romania, Serbia, Slovenia, Slovakia, Spain, Thailand, United States
Jayla, 28, spent two years driving for Uber and Lyft and struggled to find stable housing and provide for herself and her son. But after switching jobs and becoming a bus driver in late 2023, she's now living in her own apartment. After landing a bus driver position and a W2, she secured an apartment in Akron despite no luck in Texas. AdvertisementBecoming a school bus driverShe decided to become a school bus driver as she could work morning and afternoon shifts while working around her son’s day care schedule. The same day she applied, she was hired as a bus driver for her local Akron school district.
Persons: Uber, Lyft, she's, that’s, ” Jayla, Jayla, , I’ve, she’s Organizations: Service, Business, Lyft, Hertz, Akron Metropolitan Housing Authority Locations: Akron , Ohio, Houston, Akron, Texas, Lyft
The East Coast Is Sinking
  + stars: | 2024-02-13 | by ( Mira Rojanasakul | Marco Hernandez | Christopher Flavelle | ) www.nytimes.com   time to read: +11 min
The East Coast Is Sinking New satellite-based research reveals how land along the coast is slumping into the ocean, compounding the danger from global sea level rise. SINKING BY 2050 RISING –5 +5 cm –20 –15 –10 0 Atlantic City is sinking up to 4 centimeters per decade. SINKING BY 2050 RISING –5 +5 cm –20 –15 –10 0 Several hotspots in Maryland are sinking over 10 centimeters per decade, while other areas are rising. SINKING BY 2050 RISING –5 +5 cm –20 –15 –10 0 Charleston, S.C., which is affected by groundwater pumping, is sinking up to 5.7 centimeters per decade. Portland, Maine 47.0 cm 45.8 cm +40 cm 40.6 cm Relative sea level rise 33.8cm +30 cm +20 cm SUBSIDENCE +10 cm Change since 1925 Global sea level rise 1925 2023 1925 2023 1925 2023 1925 2023 Sources: Dangendorf (2019) and the National Oceanography Centre.
Persons: , Leonard Ohenhen, Kenneth Miller, Inner Harbor BOSTON Charles, , Miller, “ We’ve, Sandy, we’ve, Sandy Hertz, Hertz Organizations: Virginia Tech, U.S . Geological Survey, NASA, Rutgers University ., Places New, National Oceanography, The New York Times, East Boston Charleston East Cambridge Airport, Inner, Pleasure, Roxbury, Boston City Archives, Boston Public Library, Boston Groundwater Trust, PNAS, Rutgers University, American Society of Civil Engineers, Army Corps of Engineers, Maryland Department of Transportation Locations: Boston, New York City, Long, Maryland, Hampton, Va, Charleston, S.C, Florida, Miami, Places New York City, N.Y, Atlantic City, N.J, Mass, Portland , Maine, York City, New Jersey, East, Inner Harbor BOSTON, Pleasure Bay, Savin, Roxbury Grove, Shirzaei, Cape Canaveral, exurbs, Delaware, Atlantic, East Coast
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