CAR - Why Avis Budget Is Stepping on the Gas Today
Shares of Avis Budget Group (NASDAQ: CAR) are jumping 8.8% at 11:41 a.m. ET on Thursday after rival Hertz Global (NASDAQ: HTZ) reported second-quarter results that beat Wall Street expectations as travel demand surged in the quarter.
Hertz stock, which was soaring over 16% higher on the news, showed a much bigger-than-expected profit, which is helping to lift Avis shares too. Yet it also marks the second straight day Avis shares are enjoying an increase, as the stock was 5.5% higher yesterday.
As that followed a 7% drop on Tuesday, Avis Budget is trading 8.8% higher for the week.
For further details see:
Why Avis Budget Is Stepping on the Gas Today