Hertz Global Holdings Inc.’s stock dropped by more than half Tuesday after the company cut its earnings guidance and posted disappointing results Monday, as its fleet of compact and midsize rental cars fell markedly in value. With the roughly 51% drop to $17.44, Hertz’s shares have now lost about 70% of their value so far this year as the company has continued to struggle with weakness in its car-rental business. Hertz, in...

Source: Wall Street Journal November 08, 2016 15:58 UTC