Hertz Tumbles on Q2 Miss; FedEx Falls on Profit Margin Decline | Stock Movers
Bloomberg 2026-06-24 14:42:51
Context: Shares of several major companies, including Hertz, FedEx, and Cerebras, experienced significant movements after releasing their quarterly reports and forecasts. Hertz's stock tumbled after the company reported a preliminary second-quarter adjusted corporate Ebitda that missed analyst estimates, while FedEx saw its shares decline due to a profit margin decline. Cerebras also saw its shares lower after providing an annual sales forecast that disappointed investors.
Key Facts
- Cerebras shares are lower after the company gave an annual sales forecast of $855 million to $865 million for 2026, which disappointed investors who had projected $824.8 million in revenue.
- FedEx reported profit that beat Wall Street’s expectations, but its profit margin for the past quarter declined to 8.4%, below analysts’ expectations, due to "significant headwinds" from tumultuous trade policies and rising costs.
- Hertz shares are tumbling after the rental car company reported preliminary second-quarter adjusted corporate Ebitda that missed the average analyst estimate, and the company filed to offer $100 million of stock through a share lending agreement with JPMorgan.
- The profit margin decline at FedEx was attributed to the company navigating "significant headwinds" from tumultuous trade policies and rising costs, despite beating Wall Street’s expectations for profit.
- Hertz won't receive any proceeds from the sale of borrowed shares as part of its share lending agreement with JPMorgan.