Despite its higher prices, National Car Rental tops this year's Rental Car Satisfaction survey by J.D. Power, in part due to its easy pick-up process.» Read More
While Avis Budget is paying nearly $500 million for the short-term car-rental company, Zipcar's founders are not among the largest shareholders.
Stocks kicked off the first trading day of 2013 with a sharp 2-percent rally across the board fueled by the last-minute budget deal by lawmakers to avert the "fiscal cliff" that would have pushed the economy into recession.
CNBC's Phil LeBeau has the details on Avis Budget Group acquiring car-sharing service Zipcar in a nearly $500 million deal.
The "Squawk on the Street" crew reports shares of Zipcar are soaring on news the car-sharing service agreed to be acquired by Avis Budget Group for $500 million or $12.25 a share in cash.
U.S. stock index futures indicated a sharply higher open for Wall Street’s first trading day of 2013, after the U.S. House of Representatives finally approved a bill to avert the "fiscal cliff."
Some of the names on the move ahead of the open.
Avis Budget Group said it will buy Zipcar for about $500 million in cash to enter the fast-growing U.S. car-sharing market.
Holiday travelers who waited to book a rental car in the Northeast for Thanksgiving may be out of luck as Super Storm Sandy has created a shortage.
Enterprise Holdings provides half of all car rentals in the $22 billion U.S. car rental market, and has a big lead over No. 2 Hertz Global Holdings Inc, even after that company buys Dollar Thrifty Automotive Group.
PARIS, Oct 11- Carrefour SA:.
EDF Chief Executive Henri Proglio is expected to step down from French utility Veolia's board, French daily Les Echos reported. Europe's car market will not really recover without EU-led coordination of capacity cuts, Fiat and Chrysler Chief Executive Sergio Marchionne said, in an apparent back-track on comments he made at the Paris auto show last month.
UK small caps close down 0.1 percent, outperforming a 0.5 percent decline on both the blue chip FTSE 100 index and the mid-caps. Shares in Carclo add 6.2 percent in four times their average daily volumes after the British specialty plastics company forecast a "much stronger second half" for operating profit.
Oct 5- Avis Budget Group Inc:. *On October 1, 2012, unit entered into an agreement for the purchase of. *Deal sets forth terms related to ABCR's purchase of vehicles from GM dealers.
Oct 4- CANADA REAL ESTATE COs:. *Raymond James Starts Allied Properties Real Estate Investment Trust. *Raymond James Starts Amica Mature Lifestyles Inc with outperform.