Cendant Descending

First, an accounting mess, now, maybe a management rift

Cendant Corp.'s stock market comeback has suffered a comedown of late. In mid-April, the company--a darling of the bull market--startled Wall Street by announcing accounting irregularities that would force it to restate earnings. The stock plummeted 46%, to 19 1/16, in one day. But then Cendant seemed to be recovering as the stock rose to 25 by late April.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.