1. Hertz Global Holdings, Inc. (NYSE:HTZ) rental car jumps 10% after “poison pill”
Hertz Global Holdings, Inc. (NYSE:HTZ) is unleashing the poison pill, making it difficult for a single shareholder to amass a large chunk of ownership. The gold car rental company announced a one-year “rights” plan whereby if any single shareholder buys more than 10% of the shares out there, the number of shares can double, diluting the menace shareholder’s value.
Things seem quiet in rental-land, but beneath the surface there’s frothy activity. Trading activity of Hertz Global Holdings, Inc. (NYSE:HTZ) stock is spiking, and it’s suspicious. Some investors may be accumulating stock on the open market, which could quickly give that shareholder massive decision-making power in the company. It’s making Hertz Global Holdings, Inc. (NYSE:HTZ) queasy.
Hertz Global Holdings, Inc. (NYSE:HTZ) shareholders were impressed. Remember when LinkedIn Corp (NYSE:LNKD) said people viewing your profile is spiking? Hertz loves the attention, too. After already climbing 59% on increased business and personal traveling in 2013, the stock drove 10% higher Tuesday on the news.
2. Consumer confidence rockets into 2014
Why all the smiles? Good econ data in the final quarter of 2013. Home prices have risen and sales have increased. Manufacturing activity, which makes up 12% of the U.S. economy, has grown for cars and construction materials. And most of all, the 203,000 new jobs added in November slammed economists’ expectations, and the unemployment rate dropped to a five-year low of 7%. That’s why consumers are popping bottles into 2014.3. Home prices hit seven-year high (again)
The article Hertz Is Star Stock As Dow Hits Final Record High of 2013 originally appeared on Fool.com.
Fool contributors Jack Kramer and Nick Martell have no position in any stocks mentioned. The Motley Fool recommends LinkedIn and owns shares of Hertz Global Holdings and LinkedIn.
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