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Avis Budget Group Inc

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  • Avis Budget beats 3Q profit forecasts Thursday, 30 Oct 2014 | 5:03 AM ET

    PARSIPPANY, United States _ Avis Budget Group Inc. on Thursday reported profit of $192 million in its third quarter. On a per-share basis, the Parsippany, United States- based company said it had net income of $1.74. Avis Budget expects full-year earnings in the range of $2.82 to $3 per share, with revenue expected to be $8.5 billion.

  • Avis Budget buying licensee for $210M Friday, 24 Oct 2014 | 11:49 AM ET

    PASIPPANY, N.J.— The Avis Budget Group is acquiring a Budget Car Rental licensee for southern California and Las Vegas for approximately $210 million, plus the cost of its vehicle fleet. The acquisition of the licensee, which Avis Budget said Friday is Budget Car Rental's largest in North America, is expected to increase earnings and add $100 million in revenue.

  • Hertz's shares rose as much as 5 percent after the No. 2 U.S. car rental company said it had begun the search for a replacement. Brian MacDonald, CEO of Hertz's equipment rental business, which will soon be spun off, was named interim chief executive.

  • Qantas stays loyal to its frequent flyer "cash cow" Sunday, 31 Aug 2014 | 5:00 PM ET

    SYDNEY, Sept 1- Australia's flagship airline, Qantas Airways Ltd, is making a mint helping other companies keep their customers- even as it struggles to retain the loyalty of its own. Rival carrier Virgin Australia Holdings announced on Friday it was offloading a stake in its loyalty plan.

  • Hertz, Avis Budget Group Inc and market leader Enterprise Rent-A-Car control about 90 percent of the U.S. car rental market. And more so Hertz, than Avis, since cars are made by General Motors Co account for a bigger portion of its fleet.

  • Hertz's stock falls after car rental firm pulls forecast Wednesday, 20 Aug 2014 | 8:54 AM ET

    Hertz expects 2014 results to be "well below" its previous guidance due to business challenges and costs related to a review of the past three years' results, it said in a regulatory filing on Tuesday.

  • After-hours buzz: La-Z-Boy, Hertz, Apple & more Tuesday, 19 Aug 2014 | 5:23 PM ET

    Check out which companies are making headlines after the bell Tuesday: Elizabeth Arden, La-Z-Boy & more.

  • Retail giant way off-Target, may signal trouble Tuesday, 5 Aug 2014 | 9:48 AM ET

    Are Target's troubles merely anomalies, or symptomatic of the economy's problems, despite strong earnings reports?

  • Early movers: COH, CVS, ADM, AIG, TM, SHLD & more Tuesday, 5 Aug 2014 | 7:35 AM ET
    A live market monitor is viewed on the floor of the New York Stock Exchange (NYSE).

    Some of the names on the move ahead of the open.

  • July 31- Car rental company Avis Budget Group raised its full-year revenue and profit forecast as demand rose in North America and the company raised prices. The company raised its full-year profit forecast to $2.75- $3.05 per share from $2.50- $2.95 earlier and revenue expectation to $8.6- $8.7 billion from $8.4- $8.6 billion earlier.

  • A live market monitor is viewed on the floor of the New York Stock Exchange (NYSE).

    Check out which companies are making headlines after the bell Monday: AIG, Avis, Tenet Healthcare & more.

  • Uber moves into business travel, expensing Tuesday, 29 Jul 2014 | 8:41 AM ET

    Ridesharing app Uber announces a service aimed at making the company more valuable for business travelers.

  • After fixes, flat stock no longer broken: Cramer Monday, 28 Jul 2014 | 6:24 PM ET

    "At at this point, I think the company has gotten past many of the problems that have kept it down,” Jim Cramer said.

  • COLUMN-U.S. transportation stocks for the long haul Monday, 7 Jul 2014 | 1:42 PM ET

    CHICAGO, July 7- As North Americans hit the highways, airports and rails for vacations this summer, it's not hard to believe that some of the most robust stocks are in the transportation industry- particularly in an improving economy.

  • Want to profit from Uber? Do this, pro says Wednesday, 25 Jun 2014 | 4:17 PM ET

    Investors may not be able to directly cash in on Uber's success, but can instead look at car rental companies it will be disrupting—Hertz and Avis.

  • LONDON, June 18- Hertz, the second biggest U.S. car rental firm, is looking to broaden its business and could allow its cars to be rented via Uber and its controversial smartphone app, Group President Michel Taride told Reuters on Wednesday.

  • All hail, the king of the cab ride, a $17B fare Tuesday, 17 Jun 2014 | 6:00 AM ET
    Travis Kalanick, co-founder and CEO of Uber Technologies

    If there's a poster child for the sharing economy—both in popularity and controversy—taxi app Uber, valued at $17 billion, is hard to beat.

  • Hertz, along with Avis Budget Group Inc and privately held Enterprise Rent-A-Car, the market leader, together control about 90 percent of the U.S. car rental market. Friday's trading erased all of the gains so far this year for shares of Hertz, whose shareholders include Larry Robbins' Glenview Capital Management LLC and Daniel Loeb's Third Point Capital.

  • Oops! Hertz to restate 3 years of financial results Friday, 6 Jun 2014 | 12:02 PM ET

    Hertz Global Holdings said it would restate financial results for the past three years to correct accounting errors from 2011.

  • Hertz, which replaced its chief financial officer in December, was scheduled to report results on May 7, but delayed the announcement saying more work was required. Third Point had a stake of about 1.3 percent in Hertz as of March 31, while Glenview had about 3 percent.