Hertz shares slump after loss outstrips estimates in CEO's debut quarter
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Southfield
HERTZ Global Holdings Inc lost almost twice as much as expected in chief executive officer Kathryn Marinello's first quarter at the helm, sending the shares tumbling in extended trading.
The stock dropped as much as 18 per cent after Monday's close in New York. The Estero, Florida-based rental car company reported an adjusted loss of US$1.61 per share, far exceeding the average estimate for a loss of 84 cents.
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