Immersion Corporation (NASDAQ: IMMR) is a small-cap stock most investors have never heard of. With over 3,500 patents and a presence in more than 3 billion devices, chances are investors have experienced the company's leading haptic technology. The company is in the spotlight in 2020 as it's a component maker for the upcoming Playstation 5.What To Know: Sony Corp (NYSE: SNE) signed a licensing deal for Immersion's haptic technology to use in gaming and VR controllers. The Playstation 5 controller will feature Immersion's haptic technology.Gaming companies have already cited how the haptic technology, which allows gamers to feel weapons and terrain, expands the gaming experience.During its first-quarter earnings call, Immersion talked growth with the "anticipated launch later this year of the Playstation 5 console leveraging Sony's license of Immersion's haptic technology.""We believe Sony's new controller will catalyze increased market demand for advanced interactive haptic experiences and this may lead to additional...
Debt-strapped Hertz Global Holdings (HTZ) announced on Friday that it has reached an interim $650 million settlement agreement with debtors to suspend litigation related to the car rental company’s plan to reduce its leased fleet of rental cars.The stock fell 5.4% to $1.58 at the close on Friday. Under the terms of the agreement, Hertz will pay a total of $650 million in cash of rent in equal monthly instalments from July to December this year. In addition, the car rental company will dispose of at least 182,521 leased vehicles between June and December.The vehicles are owned by a separate asset-backed finance facility (ABS), which Hertz leases back under a contract that gives lenders collateral rights. The $3.9 billion in proceeds from the car sales will be used to repay debt incurred under the ABS, Hertz said in a U.S. Securities and Exchange Commission (SEC) filing. As a result of the...
