Tuesday was an interesting day on Wall Street, as market participants had to wrestle with many different issues that vied for their attention. Between U.S.-China trade negotiations, readings on the U.S. economy, and the ongoing earnings season, investors found themselves on their toes throughout most of the session, and the major benchmarks closed in mixed territory. Some companies had good news that produced sizable gains. Hertz Global Holdings (NYSE: HTZ), EverQuote (NASDAQ: EVER) and NIO (NYSE: NIO) were among the top performers. Here's why they did so well.
Shares of Hertz Global Holdings moved higher by 14%, recovering from some after-hours losses Monday immediately following its release of third-quarter financial results. Hertz said that global revenue rose 3%, powered in part by record third-quarter sales in the U.S. rental car segment. Conditions domestically were strong, with total transaction days up 5% year over year and revenue per day rising incrementally. Net income jumped 20% from the year-earlier period. The move higher continued the momentum for Hertz's stock from last quarter, and investors hope that the rental car giant will be able to keep its longer-term turnaround intact for the rest of the year and beyond.
Image source: Hertz.