Markets

Hertz jumps 124% after it lines up $1.65 billion in potential financing

Hertz soared 124% on Friday after it lined up potential debtor-in-possession financing of $US1.65 billion, according to a regulatory filing. Hertz entered a commitment letter for the $US1.65 billion deal, which is not official until it is approved by the bankruptcy court. The court will hold a hearing to review […]
Hertz jumps 124% after it lines up $1.65 billion in potential financing
Markets

Hertz shares are likely going to $0, Morgan Stanley says

Morgan Stanley on Monday lowered its base case for Hertz to $US0 from $US2, citing risks of de-listing or a potential liquidity shortfall. The firm’s base case is now equal to its bear case. Morgan Stanley also lowered its bull case for Hertz to $US3 from $US8. The updated price […]
Hertz shares are likely going to $0, Morgan Stanley says
Markets

Dow dives 700 points on mounting fears of a 2nd virus wave

US equities sank on Monday as investors turned less optimistic towards a sharp economic recovery. Fears of a second wave of COVID-19 cases intensified, with Texas and North Carolina reporting record hospitalizations on Saturday. California, Alabama, and Florida notched sharp increases in daily cases. Airline stocks including Delta, United, and […]
Dow dives 700 points on mounting fears of a 2nd virus wave