Some of the names on the move ahead of the open.» Read More
When an executive really drops the ball, Cramer puts them on the Wall of Shame. Someone new has just made the dubious list!
BOSTON, Aug 20- Billionaire investor Carl Icahn said on Wednesday that he owns an 8.5 percent stake in Hertz Global Holdings Inc and plans to pressure the rental car company's management over accounting issues and operational failures.
Companies making headlines after the bell Wednesday:
*Lowe's, Target shares rebound; American Eagle rallies. *Hertz tumbles after withdrawing forecast. "I don't think there were really any surprises in the minutes, or that the markets are reacting meaningfully to them," said Carin Pai, executive vice president and director of equity management at Fiduciary Trust in New York.
Hertz, Avis Budget Group Inc and market leader Enterprise Rent-A-Car control about 90 percent of the U.S. car rental market. And more so Hertz, than Avis, since cars are made by General Motors Co account for a bigger portion of its fleet.
*Lowe's pares losses, Target rebounds, after dim forecasts. NEW YORK, Aug 20- U.S. stocks inched higher Wednesday after two days of gains, ahead of the release of minutes from the most recent Federal Reserve meeting, as investors brushed off bleak earnings forecasts from some retailers like Lowe's and Target.
*Lowe's pares losses, Target rebounds, after dim forecasts. NEW YORK, Aug 20- U.S. stocks were little changed Wednesday after two days of gains, ahead of the release of minutes from the most recent Federal Reserve meeting, as investors shrugged off bleak earnings forecasts from some retailers like Lowe's and Target.
*Lowe's, Target fall in premarket after results, forecasts. *Hertz tumbles after withdrawing forecast. NEW YORK, Aug 20- U.S. stocks were set for a slight dip at the open on Wednesday after weak earnings forecasts from retailers Lowe's and Target, ahead of the release of minutes from the most recent meeting of the Federal Reserve.
Hertz expects 2014 results to be "well below" its previous guidance due to business challenges and costs related to a review of the past three years' results, it said in a regulatory filing on Tuesday.
Some of the names on the move ahead of the open.
*Lowe's Cos falls in premarket after cutting outlook. *Hertz tumbles after withdrawing forecast. *Lowe's Companies lost 3.1 percent to $49.91 before the opening bell after the world's No. 2 home improvement products retailer posted better-than-expected second quarter results but cut its full-year sales forecast.
The company previously forecast full-year 2014 adjusted profit of $1.70 to $2 per share on revenue of $11.4 billion to $11.7 billion. Hertz said in June that it would restate or correct financial results for the past three years to fix accounting errors originating in 2011..
Aug 19- Hertz Global Holdings Inc said it is withdrawing its full-year forecast and expects earnings to be well below its previous guidance due to challenges in the rental car and equipment businesses and costs related to its review of the past three years' financial results.
Check out which companies are making headlines after the bell Tuesday: Elizabeth Arden, La-Z-Boy & more.
Despite overseas unrest, Cramer thinks the backdrop for stocks is relatively bullish. Here's what's on his calendar.
Ridesharing app Uber announces a service aimed at making the company more valuable for business travelers.
"At at this point, I think the company has gotten past many of the problems that have kept it down,” Jim Cramer said.
Larry Robbins' big idea for companies is debt—loads of debt at a time when rates are still low but ready to rise.
Companies making headlines after the bell Wednesday: Bed Bath & Beyond, Cinedigm & more
Investors may not be able to directly cash in on Uber's success, but can instead look at car rental companies it will be disrupting—Hertz and Avis.