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Hertz announced it reached an agreement-in-principle with activist investor Carl Icahn to install three new directors.
Sept 11- Car rental company Hertz Global Holdings Inc said it would add three directors nominated by billionaire investor Carl Icahn to its board.
When the person in the corner office steps down, Cramer often looks for a stock to move.
Hertz Global Holdings on Monday announced Chairman and CEO Mark Frissora is stepping down, citing personal reasons.
Some of Monday's midday movers:
Hertz's shares rose as much as 5 percent after the No. 2 U.S. car rental company said it had begun the search for a replacement. Brian MacDonald, CEO of Hertz's equipment rental business, which will soon be spun off, was named interim chief executive.
NEW YORK, Sept 8- U.S. stock index futures are indicating slight losses at the open on Monday, though major indexes remain near record levels and the equity market's recent momentum appears intact. Among the biggest movers on Monday is Hertz Global Holdings Inc, up 5.2 percent to $29.95 after it said its chief executive had stepped down for personal reasons.
Hertz shares rose as much as 6 percent in trading before the bell on Monday following the announcement. Icahn, disclosing an 8.5 percent stake in Hertz on Aug. 20, said he planned to pressure the company over its underperformance, after Hertz withdrew its full-year financial forecast.
Sept 8- Hertz Global Holdings Inc said Chief Executive Mark Frissora has stepped down for personal reasons. The car rental company's board appointed Hertz Equipment Rental Corp's head, Brian MacDonald, as interim CEO. Hertz also appointed independent lead director Linda Fayne Levinson as independent non-executive chair of the board.
The "Fast Money" traders share their final trades of the day.
"It's clearly time to move past denial and swiftly to install great leadership for a great company like Hertz," Fir Tree said in a statement. Fir Tree has so far been alone in going public with complaints about Hertz' leadership, voicing the increasing frustration with Frissora that other investors privately say they share.
Some of the names on the move ahead of the open.
Billionaire investor Carl Icahn revealed he owns an 8.5 percent stake in Hertz and plans to pressure the rental car company's management.
Last year Hertz adopted a so-called poison pill to prevent any one shareholder from gaining control of the company as activist investors began circling.
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.