Markets
markets
Max Knoblauch

Hertz surges after its loss isn’t as bad as feared

Hertz on Thursday reported a better-than-expected adjusted loss, sending shares higher. (It’s unclear how much its rapidly expanding network of money-sucking AI damage scanners helped or hurt results.)

Despite signs to the positive, Hertz also posted its seventh consecutive quarterly loss. Some of the highlights:

  • An adjusted loss per share of $0.34, better than the $0.39 loss per share expected by Wall Street.

  • Hertz vehicles depreciated $251 per month in the quarter, improving 58% from the same period last year.

  • Global fleet size shrank 6% year over year to 542,532 vehicles. In the same period last year, Hertz reported 3% growth in its fleet, up to 577,224.

  • Hertz posted revenue of $2.19 billion, down 7% from last year but slightly better than expected.

  • The company lowered its expenses by more than 11%.

Shares of Hertz and rental rival Avis have seen significant growth this year, as investors expect their fleets of used vehicles to grow in value as tariffs boost new vehicle prices (and therefore boost used car demand).

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General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

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markets
J. Edward Moreno

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.

Luke Kawa
7/2/26
US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

Floridians Seek Employment Opportunities At Job Fair In Sunrise
Luke Kawa
7/1/26
Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

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