Hertz agreed to buy Dollar Thrifty for $87.50 a share in cash, a premium of 8% over Dollar Thrifty's closing price of $81 on Friday. Hertz shares were surging more than 11% while shares of Dollar Thrifty were gaining more than 7%.
Tiffany (TIF), the upscale jewelry retailer, reported second-quarter earnings of 72 cents a share on sales of $887 million, up from earnings of 69 cents a share on revenue of $873 million a year ago. Analysts expected the company to post earnings of 73 cents a share on revenue of $890.85 million. Revenue at stores open at least a year fell 1%.
Tiffany slashed its full-year outlook for the second quarter in a row amid difficult global economic and market conditions. Shares were gaining more than 7%.
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