3 Stocks to Watch on Tuesday: Hertz Global Holdings, Inc (HTZ), Priceline Group Inc (PCLN) and Mylan NV (MYL)

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Monday saw the markets rally on the weekend’s news that the FBI won’t be charging Hillary Clinton over newly discovered emails, most of which turned out to be duplicates that the bureau had already reviewed. As Wall Street braced for Election Day, the S&P 500 Index enjoyed a 2.2% boost, the Dow Jones Industrial Average improved by 2.1% and the Nasdaq Composite was 2.4% higher by day’s end.

3 Stocks to Watch on Tuesday: Hertz Global Holdings, Inc (HTZ), Priceline Group Inc (PCLN) and Mylan NV (MYL)Earnings and a potential FTC probe were among Tuesday morning’s biggest stories as Hertz Global Holdings, Inc (NYSE:HTZ), Mylan NV (NASDAQ:MYL) and Priceline Group Inc (NASDAQ:PCLN) were all moving on recent news.

Here’s what to look for as we head into today’s trading:

Hertz Global Holdings, Inc (HTZ)

HTZ shares were slammed in Tuesday’s early trade in response with a poor full-year forecast.

The car rental service posted net income of 49 cents per share for its third quarter. On an adjusted basis, earnings came to $1.58 per share — down from the $2 that Hertz earned last year, and well under expectations for $2.75 per share. Meanwhile, revenues of $2.54 billion were down 1% year-over-year and below estimates for $2.6 billion.

Just as worrisome was the company’s full-year outlook, which reflected a weak market for car rentals.

Hertz now sees full-year earnings at 51 to 88 cents per share, well off its view of $2.75 to $3.50 per share from just a few months ago. Moreover, it downgraded cash flow estimates from a range of $500 million-$600 million to a range of $250 million-$300 million.

HTZ is set to open Tuesday’s trade down 37%.

Mylan NV (MYL)

MYL isn’t out of the woods yet concerning its EpiPen scandal.

Mylan, which recently settled with the Department of Justice over claims that it had overcharged Medicaid for its EpiPen for years thanks to a misclassification, now might be hit again for dealings with the military.

Members of a U.S. Senate Judiciary Committee are demanding reimbursement for what they say were similar overchargings for the Department of Defense. “We are alarmed that Mylan may have overcharged our military for this life-saving drug,” the letter read.

According to Reuters, “Pentagon spending on EpiPen jumped to $57 million over the past year from $9 million in 2008, an increase driven by volume and by hefty price hikes that had a bigger bite on prescriptions filled at retail pharmacies.”

MYL shares are trading flatly this morning, but are off 30% year-to-date. The company reports earnings on Wednesday before the bell.

Priceline Group Inc (PCLN)

Investors were happy with Priceline’s financial results, sending PCLN up strongly after the company topped projections.

The hotel and flight booking conglomerate — which owns the likes of Kayak and Rentalcars.com — earned $31.18 a share in its third quarter on an adjusted basis. PCLN topped earnings estimates of $29.91 per share. Revenues of $3.69 billion were also better than Thomson Reuters-polled analysts were expecting. They saw sales of $3.62 billion.

The period was not all positive, as Priceline had to write down $941 million connected to the acquisition of OpenTable. This was caused by a change in the site’s strategy, specifically regarding its international expansion.

Still, Priceline bookings were up 29% year-over-year, amounting to 150 million room nights over the period.

PCLN stock was up 5% in early Tuesday trade.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/11/3-stocks-to-watch-on-tuesday-hertz-global-holdings-inc-htz-priceline-group-inc-pcln-and-mylan-nv-myl/.

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