2.31%C 7.40 5.37%QQQQ 27.81 2.83%
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TULSA, Okla. - Car rental company Dollar Thrifty Automotive Group Inc. said Tuesday it expects to miss its previously issued full-year earnings prediction, citing lower-than-expected second-quarter sales and overall economic weakness.
| DTG | 1.17 |  0.02 |
The company had issued an adjusted profit prediction, excluding certain one-time items, of $1 to $1.50 per share.
Dollar Thrifty releases second-quarter results on Aug. 5.
"We believe overall fleet capacity has come down in the industry going into the summer travel season, reacting to the anticipated decline in industry wide demand," President and Chief Executive Gary L. Paxton said in a statement. "We believe this may help support pricing in the third quarter, but it is extremely difficult in the current environment to accurately forecast any more than the shortest term outlook."
For the rest of the year, the company said it is widening its product mix, cutting costs and working to improve productivity in an effort to counter sluggish sales.
U.S. stocks were mixed on Thursday after retailers reported mostly disappointing sales while other big-name companies announced layoffs and Europ...
China markets opened lower on Tuesday morning as the investors' confidence hit by the signals that global recession are deepening.
The markets have spoken: risk aversion is still the name of the game and that was obvious since the beginning of the week.
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