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Ford Motor Company Sells Hertz Car Rental Group
(Karl Stolleis/Getty Images)
Rent to Own

The big winners of Trump’s autos tariffs? Rental cars.

Hertz and Avis are rallying as auto tariffs are set to take effect in April.

J. Edward Moreno

The big winners of President Trump’s auto tariff announcement aren’t Tesla or Rivian, two American-made electric car firms. It’s rental car companies.

Hertz and Avis are each up roughly 20% on Thursday, the first trading day after Trump declared that his administration would slap a 25% import tax on vehicles and auto parts coming from outside the US. If the stocks stay at this level, it would be the best single day for Hertz stock and the best day for Avis since 2021.

As new cars are expected to get pricier, these companies’ fleets will suddenly become more valuable. Rental car companies often sell their used cars, which may be in higher demand while the tariffs are in place.

Retailers that sell auto parts may also get more traffic as consumers keep their cars longer. Advanced Auto Parts, O’Reilly, and Autozone all rose on Thursday as well.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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