By Connor Hart
Hertz stands to benefit from tariffs that will likely cause used car prices to rise, hedge-fund manager Bill Ackman said in an X post. The rental-car company owns a fleet of over 500,000 vehicles valued at approximately $12 billion, meaning a 10% increase in used car prices would equate to a $1.2 billion gain on its auto assets. Ackman-led Pershing Square Capital Management has amassed a nearly 20% stake in Hertz as a result of its CEO's bullish stance. Shares fall 5.7%, to $7.77, in after-hours trading.
Netflix logged a record profit in the first quarter and beat its forecasts for core metrics including revenue and operating margin. The streamer said it has been largely unscathed by recent economic concerns stemming from President Trump's trade policies. "Historically, in tougher economies, home entertainment value is really important to consumer households," co-CEO Ted Sarandos said on a call with analysts. Shares rise 3.1%, to $1,003, in postmarket trading.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
April 17, 2025 19:29 ET (23:29 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。