Check out the companies making the biggest moves in midday trading on Friday.
— The volatile stock of the bankrupt rental car company spiked 37% on Friday after the Wall Street Journal reported that the company had asked its bankruptcy judge to allow a secondary stock offering. The company is looking to offer just under 250 million additional shares, according to the report.— Shares of the apparel company fell more than 4% after it reported a weaker-than-expected fiscal first quarter.
Lululemon reported earnings of 22 cents per share, one cent below Wall Street estimates, and $652 million of revenue, $36 million below expectations, according to Refinitiv. Sales declined year-over-year despite 68% growth in direct-to-consumer channels.— American Airlines stock rallied 14.
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Stocks making the biggest moves after hours: PVH, Adobe, Lululemon and moreCheck out the companies making headlines after the bell.
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How Hertz Went Bankrupt - The Journal. - WSJ Podcasts🎧 Listen: In today's episode of The Journal podcast, mattwirz explains why Hertz is a prime example of how the coronavirus has exposed the debt many companies racked up before the crisis
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Bankrupt Hertz Wants to Sell Up to $1 Billion in New SharesRental-car company Hertz Global Holdings wants to capitalize on the rally in its stock seen earlier this week by selling up to $1 billion in shares, despite a bankruptcy that threatens to wipe them out.
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Bankrupt car rental firm Hertz to offer up to $1 billion in sharesCar rental firm Hertz Global Holdings Inc said it would sell up to $1 billion in shares, cashing in on a huge speculative rise in its share price since filing for bankruptcy late last month.
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Bankrupt Hertz Seeks Permission To Raise $1 Billion In Preposterous New Stock SaleHertz Global Holdings asked the court overseeing its Chapter 11 bankruptcy reorganization to authorize a stunning plan to raise $1 billion by selling 246.8 million new share
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Stocks making the biggest moves after hours: GrubHub, Tailored Brands, Delta and moreCheck out the companies making headlines after the bell.
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