Shareholders of Dollar Thrifty Automotive Group (DTG) formally rejected an offer from Hertz (NYSE:HTZ) to buy the company, with Avis Budget Group (NASDAQ:CAR) now being given an opening to make a bid for the rental car company.
Shares of Hertz are lower by over 9.5 percent.
TranSwitch Corporation (TXCC) is trading lower by nearly 13.8 percent after the company cut its third quarter outlook due to “a softening in demand.” The company forecast revenue of $12.8 million from the quarter, down from a range of $13.5 million to $14.5 million range, and expects non-GAAP operating income for the quarter to be break even.
LodgeNet Interactive (LNET) announced on Thursday that it has withdrawn a proposed senior secured note offering, “having determined the pricing and terms were not acceptable.” The company reiterated that it remains fully compliant on the convenants of its current credit facility, and expects to remain that way.
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