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Two Ways: Dollar Thrifty Spinning Its Tires?


Strengthen your portfolio in good times and bad.


Tough Times for Dollar Thrifty

Dollar Thrifty Automotive Group (DTG), the car rental company, had a better-than-expected first quarter, but warned of challenging fleet costs ahead. The company reported a loss of $0.55 per share - $0.11 better than consensus estimates. Revenues declined 8.6% year-over-year to $362.4 million, below estimates of $367.6 million. For 2009, Dollar Thrifty expects vehicle rental revenues to drop between 6% and 12% compared to 2008. Despite improvements in rental rates and the used vehicle market, it still remains cautious for 2009, and will continue to focus on areas of revenue enhancement and cost cutting to meet its goals.

From the Bull Pen: In the car rental space, look to Hertz Global Holdings (HTZ) closing above 6-month highs. On a technical basis, one option is to wait for a pullback toward $8 with sell stop below.

From the Bear Cave: Look to Toyota (TM) approaching significant resistance near $84. One can fade (read: sell) into that level with a buy stop above.

Quick Check Around the World

Asian trading closed with the Hang Seng 2.46%, India -1.47%, Shanghai 0.98% and Taiwan 2.93%.

Glancing towards Europe, we see the CAC 0.64%, DAX 0.02%

As of 8:15 AM EST, S&P Futures are trading -6 to 897.00, and Nasdaq futures are -8 to 1419.00.

A Look at Commodities

Over in commodities, crude oil is trading +0.40 to 54.24 while gold is +1.10 at 905.40 this morning. Silver is +0.110 to 13.53 and copper +1.85 to 210.30.

The dollar index is -0.0590 to 84.2450.

On the Radar


08:15 ADP Employment Change -643k
10:30 Crude Inventories

Click here for the full trading radar.

Hump Day! Good luck!

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No positions in stocks mentioned.

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