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Bankrupt Hertz Pops 51% In Pre-Market On $1 Billion Share Sale Plan

Car rental company Hertz Global Holdings (HTZ) is reportedly asking a bankruptcy judge for permission to raise as much as $1 billion from a stock sale, to benefit from its recent share rally.The stock surged 51% in pre-market trading after closing 18% lower at $2.06 on Thursday. Shares more than doubled this month as investors piled up on the stock amid some optimism that Hertz may be able to work its way through bankruptcy proceedings, while travel is poised to rebound following the coronavirus crisis.As part of the plan, Hertz is offering as many as 246.78 million common shares with …read more […]

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Business News

Exclusive: Netflix in talks to source Indian content from Reliance affiliate Viacom18 – sources

U.S. video streaming company Netflix is in talks with Viacom18, part of the Indian conglomerate Reliance Industries’ media unit Network18, about a multi-year partnership to source content, three sources told Reuters, in a move that would expand a relationship between the two sides.

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Business News

Exclusive: Netflix in talks to source local Indian content from Reliance affiliate Viacom18 – sources

U.S. video streaming company Netflix is in talks with Viacom18, part of the Indian conglomerate Reliance Industries’ media unit Network18, about a multi-year partnership to source content, three sources told Reuters, in a move that would expand a relationship between the two sides.

…read more […]

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S&P 500 Futures Rise After Worst U.S. Stock Selloff Since March

(Bloomberg) — U.S. stock index futures advanced in Asian trading, as investors returned after the worst selloff in the cash market in 12 weeks amid signs of overheating as well as a possible second wave of coronavirus infections.Contracts on the S&P 500 rose 1.3% as of 15:13 p.m. in Tokyo, after the underlying index fell 5.9%, the most since March 16. Futures gained 1.2% on the Nasdaq 100 Index and 1.7% on the Dow Jones Industrial Average.“It’s a habitual reaction in markets to find gains after a more than 5% correction in the S&P 500,” said Jingyi Pan, a market …read more […]