CAR News and Press, Avis Budget Group Inc. From 10/31/21

Avis Budget (NASDAQ:CAR) is scheduled to announce Q3 earnings results on Monday, November 1st, after market close. The consensus EPS Estimate is $6.68 vs. $1.13 year ago and the consensus Revenue Estimate is $2.78B (+81.7% Y/Y). BofA Securities' Aileen Smith states, "Following a nearly 40% re...

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The rideshare industry continues to make its slow crawl back to pre-pandemic levels with spending down 31.1% relative to 2019 levels for the week ending October 17th, according to data from research and analytics firm M Science. Uber held 71.8% of the total market for the week, while Lyft's (...

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Avis Budget Group (CAR +4.3%) is downgraded to Neutral from Buy at Bank of America based purely on valuation. The stock has risen 40% in the last month and 345% YTD. "We still remain constructive on both macro dynamics for the Rental car companies and on CAR’s competitive positioning, ...

Hertz has ordered 100,000 Model 3 sedans, worth about $4 billion. While no discount was received, the firm should receive significant tax credits. Those credits, plus lower depreciation, make the Model 3 purchase extremely economic for rental fleet use - especially given the curre...

Earnings from the financial sector provided a key theme in Thursday's midday trading. Stocks saw a mixed response to the latest releases. Bank of America (NYSE:BAC) and Morgan Stanley (NYSE:MS) rose following their respective reports. However, Wells Fargo (NYSE:WFC) slipped in intraday action...

Earnings show drove the top industrial gainer while concerns in the electric vehicle sector pulled down Lion Electric for the week ending Oct. 8 Industrial Select Sector SPDR (NYSEARCA:XLI) finished the week in the green +1.78% after being in the red for two weeks on the trot. It wa...