(Bloomberg) — Hertz Global Holdings Inc. has struck a deal that will cut the debt it owes lenders who financed its rental car fleet to less than $5 billion from $11 billion by Dec. 31, the company’s main bankruptcy lawyer said in court Friday.Under an agreement with the lenders, Hertz has agreed to sell 182,000 cars over the next few months, Tom Lauria told U.S. Bankruptcy Judge Mary Walrath. The deal requires Hertz to make $650 million in lease payments. The reduction in the $11 billion in vehicle debt is tied to the auto sales, Lauria said.The deal “took a little bit of good luck,” he said, referring to a boost in the used car market that began in the last few months.Hertz and its vehicle lenders had been fighting about how much the company owed under a lease contract that governs the fleet. Lawyer Marshall Huebner said the lenders he represents believe they were owed $1.8 billion in regular payments through Dec. 31 under that lease. Hertz and lower-ranking creditors have maintained the amount was far less.“I do like to see peace break out,” Walrath said in approving the settlement.The case is Hertz Corp. 20-11218, U.S. Bankruptcy Court, District of Delaware (Wilmington).To view the docket on Bloomberg Law, click here.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for…

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Teradyne, Inc. (NASDAQ:TER) defied analyst predictions to release its second-quarter results, which were ahead of…

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Las Vegas Strip casinos are preparing for furloughs and layoffs as Las Vegas Sands reports a 97% decline in revenue. Moody’s Vice President Adam McLaren joins Yahoo Finance’s Zack Guzman to discuss.

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Novavax, Inc. (NASDAQ: NVAX), which issued an update on its coronavirus vaccine program earlier this week, announced late Thursday a manufacturing agreement with a CDMO, while also flagging a slightly delay in the Phase 1 readout.Novavax' Deal With Fujifilm: Novavax, which is working on an investigational vaccine (codenamed NVX-CoV2373) against the SARS-CoV2, said it struck a manufacturing deal with Fujifim Diosynth Biotechnologies for manufacturing bulk drug substance for the vaccine candidate.The companies said Fujifilm's site in Morrisville, North Carolina has begun production of the first batch of NVX-CoV2373.The agreement draws upon the $1.6 billion funding award Novavax was granted under the federal's government's Operation Warp Speed project.Related Link: 5 Coronavirus Stock Valuations Surging During The PandemicThe companies said the batches produced at Fujifilm's site in North Carolina will be used in a future pivotal Phase 3 clinical trial of up to 30,000 subjects, which will determine the safety and efficacy of NVX-CoV2373. The trial is set to start in the fall."We are grateful to partner with the team at FUJIFILM Diosynth Biotechnologies to ensure the large-scale manufacture of our COVID-19 vaccine candidate," said Stanley Erck, CEO of Novavax.Novavax Flags Delay: Novavax said it plans to announce Phase 1 data, consisting of immunogenicity and safety results, in the first week of August. The company had earlier given a July timeframe for the release.The Phase 1 trial is part of the Phase 1/2 trial the company initiated in 130 healthy participants, ages 18 to 59 years, in Australia in May.Novavax said it now expects the Phase 2 portion to assess immunity, safety, and COVID-19 disease reduction to begin shortly thereafter.In pre-market trading, Novavax shares were down 3.28% to $135.01, having gained over 3,400% in the year-to-date period.See more from Benzinga * The Daily Biotech Pulse: Mixed Tidings From Novavax, Radius Health Out-licenses Breast Cancer Drug, 3 IPOs * Novavax Analyst 'Encouraged' By Preclinical Data For Coronavirus Vaccine Candidate(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Yahoo Finance’s Anjalee Khemlani breaks down where pharmaceutical companies stand in the fight against COVID-19.

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Brown Advisory recently released its Q2 2020 Investor Letter, a copy of which you can download here. The Mid-Cap Growth Fund posted a return of 31.64% for the quarter, outperforming its benchmark, the Russell Midcap Growth Index which returned 30.26% in the same quarter. You should check out Brown Advisory’s top 5 stock picks for […]

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Brown Advisory recently released its Q2 2020 Investor Letter, a copy of which you can download here. The Mid-Cap Growth Fund posted a return of 31.64% for the quarter, outperforming its benchmark, the Russell Midcap Growth Index which returned 30.26% in the same quarter. You should check out Brown Advisory’s top 5 stock picks for […]

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The tech bubble is very much in effect, but it's not in the big names, according to Andrew Slimmon, a managing director and senior portfolio manager at Morgan Stanley.

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