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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

☆ Jim Cramer shares his thoughts on 5 stocks including Tesla, Hertz and Super Micro
▼ + stars: | 2024-03-18 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +2 min

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

☆ Musk said Tesla cars would rise in value, H but here’s what really happened
▼ + stars: | 2024-03-03 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

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

☆ Hertz halts plan to buy 65,000 electric cars amid EV slump
▼ + stars: | 2024-02-06 | by ( Tom Carter | ) www.businessinsider.com time to read: +2 min

The rental car giant is pausing plans to buy 65,000 electric cars from EV pioneer Polestar, according to comments made by Polestar CEO Thomas Ingenlath in an interview with The Financial Times . Hertz's estimated $3 billion agreement with up-and-coming EV maker Polestar in 2022 was seen as a major moment for electric vehicle adoption. AdvertisementIt came after Hertz struck a similar deal with Tesla and agreed to buy 100,000 of its EVs in 2021. However, since then the global EV market has stalled , with demand for electric cars slumping and major automakers rolling back some of their investments . AdvertisementThe company said in January it plans to sell 20,000 EVs from its fleet , including Teslas, Chevrolet Bolts, and Volvos.

Persons: Hertz, Thomas Ingenlath, Tesla, Elon, Ingenlath, Stephen Scherr, Polestar, Mary Barra Organizations: Financial Times, Polestar, Hertz, Teslas, Chevrolet Bolts, Volvo, Swedish, General Motors, Business

☆ Teslas crash more than gas-powered cars. Here’s why
▼ + stars: | 2024-01-18 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

Hertz CEO Stephen Scherr noted that the costs of repairs of an electric vehicle are also much higher. Scherr’s statements echoed findings by insurance analysts at LexisNexis who found that, when vehicle owners switch from gasoline-powered cars to electric cars, they tend to crash more. Drivers also tend to crash somewhat more when switching to gas-powered vehicles, too, but the increase is more pronounced with EVs. Mostly a Tesla thingIn both cases – with Hertz and with LexisNexis – “electric vehicles” largely means Teslas. That suggests there may be something about Teslas that’s causing people to crash more than other cars.

Persons: CNN — Hertz, Stephen Scherr, Teslas, Xiaohui Lu, Lu, Tesla, ” Organizations: CNN, Hertz, EV, LexisNexis, Drivers, Data, Tesla, BMW Locations: China, US

☆ Hertz makes 'agile' decision to shift strategy and sell EVs, Teslas
▼ + stars: | 2024-01-14 | by ( Ian Thomas | ) www.cnbc.com time to read: +4 min

A Hertz Tesla electric vehicle is displayed during the Hertz Corporation IPO at the Nasdaq Market site in Times Square in New York City, U.S., November 9, 2021. "The reality of EVs and Tesla's being the best-selling car will, at some point, render them the best rental car," Scherr said. Hertz said it would be selling about 20,000 electric vehicles. Tesla's recent decision to lower the price of its vehicles also weighed into Hertz's decision given the impact on deprecation, Scherr added. Hertz had previously set a goal to have a quarter of its fleet be EVs by the end of 2024.

Persons: Hertz, Tesla, Stephen Scherr, CNBC's Jim Cramer, GM EVs, Tesla's, Scherr, Tom Brady, Dan Ives Organizations: Hertz, Hertz Corporation, Nasdaq, General Motors, Honda Motor, EV, GM Locations: New York City, U.S, EVs

Shares of Tesla closed down more than 3% Friday as the stock faced pressure from supply chain delays due to a crisis in the Red Sea, and after offering more price cuts on its vehicles in China. The Iranian-backed Houthi militia group has been attacking cargo ships and merchant vessels in the Red Sea in response to the ongoing war in the Gaza Strip. The Baird analysts wrote that they are "wary" of further effects to Tesla's supply chain, and they are "closely monitoring" any effect on the company's shipping routes from China. "No delays have been cited, however, we speculate that disruptions in the Red Sea may lead to longer wait times as supply chains are rerouted," they wrote. Analysts were also focused on Tesla's continuing price cuts including new discounts in China.

Persons: Tesla, Baird, Morgan Stanley, Price, Hertz, Stephen Scherr, Scherr, unionize Organizations: Tesla, Hertz, Reuters, Baird, United Auto Workers, UAW, Toyota Locations: Red, China, U.S, Berlin, Grunheide, Germany, Jan, Gaza, Europe, Sweden, Scandinavia, Detroit

☆ Hertz is selling 1/3 of its electric cars to buy gas cars instead
▼ + stars: | 2024-01-11 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —Hertz, which has made a big push into electric vehicles in recent years, has decided it’s time to cut back. And EV price declines in the new car market have pushed down the resale value of Hertz’s used EV rental cars. Simply put, people are generally willing to pay a certain amount less for a used car than for a new one. Tesla makes up about 80% of Hertz’s EV fleet, and, altogether, EVs make up about 11% of Hertz’s total rental fleet. Again, Teslas, which make up 80% of Hertz’s EV rental fleet, are mostly the problem in both these areas, he has said.

Persons: CNN — Hertz, Hertz’s financials, ” Hertz, Stephen Scherr, Tesla, ” Scherr, Hertz, EVs, “, Scherr, ” Organizations: CNN, SEC, EV, Hertz, GM Locations: EVs

☆ Hertz's embrace of Teslas isn't going so well
▼ + stars: | 2023-10-28 | by ( Tim Levin | ) www.businessinsider.com time to read: +4 min

Hertz had initially aimed to make 25% of its fleet electric by the end of 2024. Today, 11% of Hertz's cars are electric, and 80% of those are Teslas. AdvertisementAdvertisementIn 2021, Hertz started going all-in on EVs, announcing a plan to buy 100,000 Teslas as part of an effort to give customers electric options. Add it all up, and Hertz's third-quarter profits would have been "several margin points higher" if its fleet was similarly sized but didn't include EVs, Scherr said. This year, electric cars have been languishing on dealer lots, forcing automakers to cut prices and lather on other incentives.

Persons: Hertz, EVs, —, Stephen Scherr, Scherr, it's, Elon Musk, Tesla, General Motors — Organizations: Service, General Motors, EV, Manufacturers, Ford, General, EVs Locations: EVs

☆ Hertz pulls back on EV plans citing Tesla price cuts, high repair costs
▼ + stars: | 2023-10-26 | by ( Lora Kolodny | ) www.cnbc.com time to read: +5 min

Hertz also disclosed on Thursday that about 80% of the battery electric cars in its fleet are Teslas today. About 11% of Hertz's entire fleet is comprised of electric cars now. With around 50,000 electric cars in its fleet currently, that means Hertz has around 35,000 Teslas in its fleet now. That number is far shy of the 100,000 Tesla electric cars Hertz originally said it was ordering from Tesla by the end of 2022. Musk frequently says that electric cars require less maintenance than counterparts with internal combustion engines (including plug-in hybrid electrics).

Persons: Hertz, Stephen Scherr, Scherr, Tesla, Tom Brady, Elon Musk, Nikhil Naikal Organizations: Hertz, Hertz Global, GM, Twitter, CNBC Locations: EVs

☆ Hertz CEO Stephen Scherr goes one-on-one with Jim Cramer
▼ + stars: | 2023-10-26 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHertz CEO Stephen Scherr goes one-on-one with Jim CramerHertz Chair and CEO Stephen Scherr joins 'Mad Money' host Jim Cramer to talk its EV fleet, quarterly earnings, its stock price and more.

Persons: Stephen Scherr, Jim Cramer Hertz, Jim Cramer

☆ Depreciation on EVs went up because of Tesla's price cuts, says Hertz CEO Stephen Scherr
▼ + stars: | 2023-10-26 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDepreciation on EVs went up because of Tesla's price cuts, says Hertz CEO Stephen ScherrHertz Chair and CEO Stephen Scherr joins 'Mad Money' host Jim Cramer to talk its EV fleet, quarterly earnings, its stock price and more.

Persons: EVs, Hertz, Stephen Scherr Hertz, Stephen Scherr, Jim Cramer

☆ Hertz CEO says company will continue to add electric vehicles to its fleet, despite issues
▼ + stars: | 2023-10-26 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Hertz CEO Stephen Scherr told CNBC's Jim Cramer Thursday that his company will continue buying electric vehicles for its fleet, even though the cars caused some headaches during the last quarter. "I think there's no technology change, EVs included, that run a straight line without some hiccups and challenges, and that's this," Scherr said. Scherr said Hertz saw its EVs depreciate in value this year as Tesla made significant price cuts to its models. EVs make up about 11% of Hertz's fleet, with Teslas accounting for 80% of the group, Scherr said. He added that Hertz will buy more Teslas as well as General Motors -made EVs, aiming to have 10,000 in its fleet by year-end.

Persons: Hertz, Stephen Scherr, CNBC's Jim Cramer, Thursday's, Scherr, Tesla, EVs Organizations: Wall, Motors, GM

☆ Two auto industry CEOs on EV rentals, charging headwinds and EV demand
▼ + stars: | 2023-08-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTwo auto industry CEOs on EV rentals, charging headwinds and EV demandGeneral Motors CEO Mary Barra and Hertz CEO Stephen Scherr join 'Power Lunch' to discuss GM's investment in a battery materials company and the future of the EV market.

Persons: Mary Barra, Stephen Scherr Organizations: EV, General, Hertz

☆ Watch CNBC's full interview with General Motors CEO Mary Barra and Hertz CEO Stephen Scherr
▼ + stars: | 2023-08-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with General Motors CEO Mary Barra and Hertz CEO Stephen ScherrGeneral Motors CEO Mary Barra and Hertz CEO Stephen Scherr join 'Power Lunch' to discuss GM's investment in a battery materials company and the future of the EV market.

Persons: Mary Barra, Stephen Scherr Organizations: General Motors, Hertz

☆ Hertz CEO sees strong demand in the U.S. and abroad
▼ + stars: | 2023-07-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHertz CEO sees strong demand in the U.S. and abroadHertz CEO Stephen Scherr joins 'Squawk on the Street' to discuss Hertz's quarterly earnings results, what's giving Scherr a positive outlook for the year's second half, and more.

Persons: Hertz, Stephen Scherr Locations: U.S

☆ What the heck is going on at Goldman Sachs
▼ + stars: | 2023-06-23 | by ( Matt Turner | ) www.businessinsider.com time to read: +5 min

It's been non-stop negativity over at Goldman Sachs recently. The bad news just keeps rolling in over at Goldman Sachs. The Economist put a fine point on this earlier this year when it ran a cover story titled "The humbling of Goldman Sachs." But Goldman Sachs' historic partnership model has given it a distinct culture, where these kinds of things matter. Whatever the truth is, it's clear that Goldman Sachs and David Solomon are going to remain in the headlines for some time.

Persons: It's, Goldman Sachs, David Solomon's, Dakin Campbell, grumbling, Solomon, Goldman, David Solomon, it's, Dina Powell McCormick, Gregg Lemkau, Stephen Scherr, Eric Lane, Katie Koch, Fred Baba, he's, he'd, John Rogers, Tony Fratto Organizations: Goldman, Wall Street, The New York Times, Silicon Valley Bank, DJ, Discovery Land Company, New York Times, Air Mail Locations: California

David Solomon has been Goldman Sachs' CEO for over four years since succeeding Lloyd Blankfein. There's been a lot of talk about the morale at Goldman Sachs. Solomon said there were fewer "partner transitions at Goldman Sachs" in 2022 than any year "going back to 2014." Meanwhile, Solomon's expensive foray into consumer banking raised the ire of some longtime Goldman partners, as Insider has previously reported. The fresh faces among the Goldman Sachs executives who took the stage at the bank's investor day highlight the leadership changes under Solomon.

☆ Post-Covid, post-bankruptcy Hertz is all-in on electric, with big implications for the EV, auto and rideshare market
▼ + stars: | 2023-05-14 | by ( Tim Mullaney | ) www.cnbc.com time to read: +5 min

In this article HTZ Follow your favorite stocks CREATE FREE ACCOUNTTesla Model 3 electric vehicles at a Hertz neighborhood location. These deals began to roll out last year, after Hertz's first Teslas hit the road in 2021 and experiments with rental EVs extended back over the past decade. "At the end of [March], we had about 50,000 electric vehicles in our fleet, comprising approximately 10% of total cars," Scherr said. Hertz has also told analysts that the growing EV rideshare market can be a buffer against traditional quarterly peak to trough experienced in the leisure business. The benefits of using an EV begin with a $1 per ride credit to the driver for using an EV, Uber spokeswoman Alix Anfang said.

☆ Hertz CEO Stephen Scherr discusses summer rebound travel and EV strategy
▼ + stars: | 2023-04-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHertz CEO Stephen Scherr discusses summer rebound travel and EV strategyStephen Scherr, Hertz CEO joins 'Squawk on the Street' to discuss his thoughts on the future of the company, the EV space and more.

☆ Since David Solomon became Goldman Sachs CEO, more than 80 partners have left. See the running list here.
▼ + stars: | 2023-03-03 | by ( Carter Johnson | Dakin Campbell | ) www.businessinsider.com time to read: +6 min

David Solomon has been Goldman Sachs' CEO for more than four years since succeeding Lloyd Blankfein. There's been a lot of talk about the morale at Goldman Sachs. In reality, Solomon said, there were fewer "partner transitions at Goldman Sachs" in 2022 than any year "going back to 2014." "At the moment, year-to-date, our turnover is at a 5-year low, not just for partners, in the whole firm," Solomon added. Here is a running list of Goldman's partners that have retired from the firm — or moved on to roles at other companies — since Solomon became CEO.

☆ Analysis: Goldman Sachs CEO, after missteps, to take center stage at investor day
▼ + stars: | 2023-02-24 | by ( Saeed Azhar | ) www.reuters.com time to read: +6 min

"It's a pretty important investor day," said Mike Cronin, investor director at fund manager abrdn, which owns a stake in the bank. In 2020, Solomon kicked off Goldman's inaugural investor day by telling participants they should feel free to "break into open applause." A deal could broaden Goldman's revenue beyond trading and investment banking, which can be buffeted by economic cycles. The investor day is also an opportunity for the company to address questions around Solomon's leadership after bad press, Mayo said. But several presenters from the 2020 investor day have since left.

☆ Hertz forecasts upbeat revenue after profit tops on strong rental car demand
▼ + stars: | 2023-02-07 | by ( Priyamvada C | ) www.reuters.com time to read: +2 min

Feb 7 (Reuters) - Hertz Global Holdings Inc (HTZ.O) said on Tuesday it expects revenue to rise sequentially in the second and third quarters of this year on the back of strong demand for rental cars in the face of economic worries. "I think they were more upbeat about the revenue trajectory than I expected," Northcoast Research Partners analyst John Healy said. Rising costs and supply shortages faced by automakers have made it more expensive for car buyers in an uncertain economy. Hertz, which operates the Hertz, Dollar and Thrifty vehicle rental brands, posted an adjusted profit of 50 cents per share, beating average analyst estimate of 46 cents, as per Refinitiv data. Hertz's fourth-quarter revenue rose 4% to $2.04 billion.

☆ Hertz fourth-quarter profit beats as costs come down and travel rebounds
▼ + stars: | 2023-02-07 | by ( John Rosevear | ) www.cnbc.com time to read: +2 min

Rental car giant Hertz reported fourth-quarter earnings that were better than Wall Street expected, on renewed demand for travel as the Covid-19 pandemic eased in many parts of the world. That profit also beat estimates, as analysts polled by Refinitiv had expected earnings of $3.67 on revenue of $8.7 billion, on average. As of the end of 2022, Hertz had $2.5 billion of total liquidity available, including $943 million in cash. The key story is that Hertz is making these incremental operating improvements as demand for travel recovers, Scherr said. Those trends continued in January, Scherr said, with corporate travel business up 28% from the same month in 2022 and inbound travel up 56%.

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