Some of the names on the move ahead of the open.» Read More
PARSIPPANY, United States _ Avis Budget Group Inc. on Wednesday reported fourth-quarter net income of $23 million, after reporting a loss in the same period a year earlier. On a per-share basis, the Parsippany, United States- based company said it had net income of 21 cents. Avis Budget expects full-year earnings in the range of $3.15 to $3.75 per share, with revenue...
The rise of the likes of car hire app Zipcar and car-pooling rival BlaBlaCar are expected to present new challenges to mass-market carmakers such as Ford, GM, Volvo, Renault and Volkswagen while presenting fresh opportunities for existing rental networks. Online taxi business Uber is another seeking a slice of the market with its UberPop operation, which...
Hertz Global Holdings on Monday announced Chairman and CEO Mark Frissora is stepping down, citing personal reasons.
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.
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Some of the names on the move ahead of the open.
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Ridesharing app Uber announces a service aimed at making the company more valuable for business travelers.
"At at this point, I think the company has gotten past many of the problems that have kept it down,” Jim Cramer said.
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.
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 Global Holdings said it would restate financial results for the past three years to correct accounting errors from 2011.
General Motors has recalled more than 13 million cars so far this year, which means fewer cars available on the rental lots for travelers.
Year to date shares of Avis have rallied about 35%, yet Jim Cramer thinks the stock remains relatively cheap.
In the event that GM runs out of vehicles to loan owners of its recalled vehicles, the automaker has lined up rental firms, according to a report.
Take a look at some of Thursday's midday movers:
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