Core Insights - Hertz Global reported a third-quarter profit for the first time in nearly two years, indicating a significant turnaround for the company [1] - The profit was driven by strong demand for used vehicle sales and a newer fleet of rental cars, which contributed to a 27% increase in the company's shares [1] Financial Performance - Hertz Global achieved profitability in the third quarter after a prolonged period of losses, marking a pivotal moment in its financial recovery [1] - The company's reliance on used vehicle sales played a crucial role in boosting its revenue and overall financial performance [1] Market Reaction - Following the announcement of the profit, Hertz Global's shares surged by 27%, reflecting positive investor sentiment and confidence in the company's recovery strategy [1]

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[Music] Hello and welcome to Morning Brief Market Sunrise. I'm Raman Karamali live from Yahoo Finance Studios in London. It's Thursday 25th September.Coming up on the show, struggling Intel seeks an investment from Apple. President Trump is expected to sign a deal for Tik Tok today. and we'll look at the stock that's up nearly 1,400% in the past 3 months.So, grab your coffee and let's own the morning. Well, the first thing you need to know is that Intel has approached Apple about securing investment in the ...

Core Viewpoint - Hertz Global's shares experienced a significant decline following the release of disappointing first-quarter earnings and the announcement of a $250 million stock offering aimed at deleveraging the company [1][2]. Financial Performance - Hertz reported a loss per share of $1.12 adjusted, which was worse than the expected loss of 97 cents [7]. - The company's automotive revenue was $1.81 billion, falling short of the expected $2 billion [7]. - Revenue decreased by 13% year-over-year, primarily due to a reduced fleet capacity, which was down 8% compared to the first quarter of 2024 [5]. Strategic Initiatives - Hertz's CFO indicated that the combination of an improved earnings profile, refinancing options, and the stock offering provides multiple alternatives for addressing upcoming maturities [3]. - The company is implementing a "Back-to-Basics Roadmap" plan to optimize vehicle utilization and create more demand than it can satisfy, aiming to improve profitability [6]. Market Conditions - Investors are concerned about Hertz's strategy to reduce the number of cars available for rent due to lower bookings and the impact of auto tariffs on vehicle prices [4]. - The company is also facing challenges from lower consumer sentiment and decreased U.S. tourism [4].