CNBC.com's MacKenzie Sigalos brings you the day's top business news headlines. On today's show, the latest development in Hertz's bankruptcy rally saga — the rental car company calls off a planned $500 million stock sale. Plus, CNBC's Courtney Reagan dives into the sales numbers of one under the radar company that is crushing the competition in the new stay-at-home economy.
Hertz has decided to terminate a controversial stock sale of up to $500 million following the Securities and Exchange Commission criticizing the bankrupt company's plans.
The move immediately sent shares of Hertz falling about 10%. The stock briefly recovered before ending down 10% to $1.80 — its lowest closing price since June 4. Trading in the shares was halted for hours ahead of the announcement. Only 33.8 million shares changed hands during trading Thursday. The stock continue to slide during extended-hours trading.
Spotify's podcast deal spree continues.
The company said Thursday it has a new partnership with DC and Warner Bros. to exclusively produce and distribute a new slate of narrative scripted podcasts featuring popular comic book characters.
Spotify shares touched a new 52-week high Thursday, ending the day up more than 12%.
The Dow Jones Industrial Average fell for a second straight day on Thursday as investors weighed the rising number of coronavirus cases in the U.S. and around the world along with disappointing unemployment data.
The 30-stock Dow closed 39.51 points lower, or 0.2%, at 26,080.10. The Nasdaq Composite, meanwhile, climbed 0.3% to 9,943.05 for its fifth consecutive gain. The S&P 500 ended the session up 0.1% at 3,115.34.