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U.S. Morning Call: Hertz forecasts strong 2013

Monday, 25 Feb, 2013 - 03:13

Feb 25 - Car rental company Hertz projects strong results for 2013 on higher pricing, and its adjusted profit beat analysts' expectations.

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Morning call for Monday let's start with earnings -- reporting results just minutes ago. Quarterly profit beat analysts' estimates a jump in sales following hurricane sandy and an improved products election helping the retailer. Wanna know the company has seen a significant benefit from the revived housing market. As the housing starts and existing home sales have improved over the past year. The company still a distant second to rival Home Depot which is expected to beat when it reports results tomorrow. Her talk to a fashion here in the words of its CEO. The car and the company's adjusted profit beat estimates Hertz also forecast results for 2013 on higher pricing. -- earnings call investors will want to know how its acquisition of dollar thrifty is coming along -- bought the smaller rival for two point six billion in late 2012. The acquisition is expected to save the company is at least 160 million bucks annually and hurts right behind enterprise in global rental rankings. Not the US stock futures are pointing to weighs slightly higher open this morning. Investors feeling cautious of lawmakers return to Washington today after a weeklong recess. What's at stake 85 billion dollars in spending will be cut from the budget come march 1. And -- both parties reach a deal to postpone the already postponed deadline. The impact may be quite steep on average government programs subject to the cuts provides six point 6% of states revenues. In Virginia about 90000 civilians who work for the Defense Department will face temporary furloughs and several major navy projects canceled or delayed. The two main sources of federal money for states Medicaid highway funding are exempt from sequestration. -- -- stocks to watch Barnes & Noble chairman Leonardo Riggio says he plans to biter retail business of the company. That would include the book selling unit and Barnes & Noble dot com but exclude -- media. The price is currently under negotiation. Which you already owns just under 30% of bars. Also on our radar black rock the world's largest money manager has won approval from the SEC to list it copper backed ETF. The move potentially places black rock headed JPMorgan. Who is listing of a similar product has been delayed by industry objections. The NYSE will listen trade shares of the iShares copper trust on its electronic platform. And -- wrapped up the show keep an eye on tech today heads of Cisco discovery Netflix and Zynga is scheduled to hit the podium. At Morgan Stanley's annual conference in San Francisco. Speakers from FaceBook Google Microsoft and eBay will also be around the 48 tech's best. The likely face questions on strategy and how technology is changing media. That's appear Monday morning call remembered follow us on Twitter at Reuters Insider and get more like videos at Reuters dot com slash Reuters TV. I'm Lisa Bernhard this is right here.

U.S. Morning Call: Hertz forecasts strong 2013

Monday, 25 Feb, 2013 - 03:13

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