NEW YORK Cendant Corp. confirmed its confidence in its 2001 forecast during an interview on CNBCs Squawk Box. Henry Silverman, chairman/president/CEO of Cendant, responded to a question regarding Cendants stock price, which has increased by about 90% since January 2001, stating that the current price primarily reflects two factors: elimination of the uncertainty surrounding the principal class litigation settlement, and Cendants strong performance to date in 2001 and its continued positive outlook for the remainder of the year.
Silverman also said that this week, two Wall Street firms raised their forecasts for Cendant for the second quarter and for the year and that the company is confident that it can beat estimates. (5/31/01)