Wells Fargo & Co (NYSE:WFC) up by 1.32%, Hertz Global Holdings Inc (NYSE:HTZ)

Posted by Lynn Eisler May 8, 2013 0 Comment 1329 views


Wells Fargo & Co (NYSE:WFC): In Tuesday’s trading session, shares of Wells Fargo & Co (NYSE:WFC) went up by 1.32%. The opening price of the shares was $38.02 which touched an intraday high of $38.56 before dropping to $37.91 per share. Over 23.27M shares were traded in Tuesday’s trading session which was above the average volume of 19.99M that was measured over a period of 30 days.

Wells Fargo & Co (NYSE:WFC) is a countrywide, community-based, diversified financial services company with assets of $1.4 trillion. The 182- founded, San Francisco-headquartered Company provides banking, investments, insurance, commercial and consumer finance and, mortgage via over 9,000 stores, its official website, wellsfargo.com and 12,000 ATM’s. To support its customers who have global businesses, it has offices in more than 35 countries. The company announced that New York-New Jersey CityLIFT(SM) program will be launched in Jersey City, Bronx, Newark, and Brooklyn.

Via this program, opportunities will be created for citizens to have access to affordable homes and upgrade their standard of living. With a workforce of over 265,000, Wells Fargo & Co serves one out of every three households in America.

Hertz Global Holdings, Inc (NYSE:HTZ); In Tuesday’s trading session, shares of Hertz Global Holdings, Inc (NYSE:HTZ) dropped by 0.60%. The opening price of the shares was $24.65 which touched an intraday high of $24.86 before dropping to $24.55 per share. Over 22.68M shares were traded in Tuesday’s trading session which was higher than the average volume of 7.34M that was measured over a period of 30 days.

Hertz headquarters will be moving to Florida from New Jersey.  This move will place the company in the epicenter of one of the countries key travel markets. It will also be axing its corporate expenses post its $2.3 billion worth acquisition of Dollar Thrifty who was at one point of time, a staunch rival.  In next two years close to 700 jobs will be moved to Florida. Over 2000, Dollar Thrifty and Hertz employees will continue in working at their current location, New Jersey.

This number will be inclusive of the around 150 employees who work at Park Ridge where the current headquarters are. Hertz Global Holdings, Inc (NYSE:HTZ) sealed its Tulsa, Okla-based Dollar Thrifty Automotive Group deal in November.


About Lynn Eisler

Lynn Eisler is a national news reporter focusing on economic issues, data analysis and the financial health of state and local governments. Lynn has been honored with the H.L. Mencken Award for Investigative Reporting, the Champion of Justice Award for reporting on the drug war, and the John Hancock Award for business reporting. Lynn was also a Knight Medical School Fellow at the University of Michigan.

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