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Hertz Falls on Restatement, Weak Rentals Crimping Results

Hertz Global Holdings Inc., the car-and equipment-rental company that’s splitting in two, tumbled the most in seven months after saying it needs to fix three years of accounting and that quarterly results won’t meet consensus estimates on weak car-rental revenue.

The shares slumped 9.1 percent to $27.73 at the close in New York for the biggest one-day drop since Nov. 5. The stock has dropped 3.1 percent this year.