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Avis Budget Group, Inc. (CAR)

- NASDAQ
  • Sep. 26, 2013, 9:12 AM
    | Sep. 26, 2013, 9:12 AM | Comment!
  • Sep. 26, 2013, 7:57 AM
    • Shares of Avis Budget (CAR) fall 1.8% premarket after rival Hertz warns on rental volume.
    • The damage could be much worse if the company didn't have considerable pricing power with a car rental oligopoly firmly entrenched.
    | Sep. 26, 2013, 7:57 AM | Comment!
  • Aug. 26, 2013, 12:40 PM
    • Hertz Global (HTZ +1.2%) and Avis Budget (CAR +0.9%) hope their Labor Day weekend business is as strong as privately-held Enterprise Rent-A-Car forecasts it will see.
    • Enterprise says reservations are already up 25% Y/Y from the holiday weekend last year.
    • Last week, AAA forecast a 4.2% increase in Labor Day weekend travel.
    | Aug. 26, 2013, 12:40 PM | Comment!
  • Aug. 12, 2013, 9:53 AM
    • Avis Budget (CAR -0.4%) says it worked out a arrangement to acquire a 50% stake in in existing licensees in Brazil for $50M.
    • The company says the deal will allow it to significantly add to its footprint in Brazil.
    | Aug. 12, 2013, 9:53 AM | Comment!
  • Aug. 7, 2013, 3:01 PM
    • Avis Budget (CAR -5.4%) sputters after posting largely in line Q2 results.
    • Likely weighing on the shares is the company's FY13 EPS outlook which, at $2.05-2.35 doesn't look so hot compared to consensus of $2.36. Revenue guidance is $7.8-8B (consensus is $7.9B).
    • The company also announced a new $200M buyback program. (PR)
    | Aug. 7, 2013, 3:01 PM | Comment!
  • Aug. 6, 2013, 5:44 PM
    | Aug. 6, 2013, 5:44 PM | Comment!
  • Aug. 6, 2013, 4:46 PM
    • Avis Budget (CAR): Q2 EPS of $0.50 beats by $0.02.
    • Revenue of $2.00B (+7% Y/Y) misses by $0.01B. (PR)
    | Aug. 6, 2013, 4:46 PM | Comment!
  • Aug. 6, 2013, 12:10 AM
  • Aug. 5, 2013, 5:35 PM
  • Jul. 26, 2013, 5:30 PM
    After-hours top gainers, as of 5:15 p.m.: ERJ +3%. KNDI +2%. MTSN +2%. AMX +2%. RSH +1%.
    After-hours top losers: DLR -3%. CAR -3%. QCOR -2%. GLNG -2%. FLY -1%.
    | Jul. 26, 2013, 5:30 PM | Comment!
  • Jul. 15, 2013, 7:05 AM
    Avis Budget Group (CAR) acquires Payless Car Rental - the nation's 6th largest car rental company - for $50M in cash. Payless has about $80M in annual revenue. Avis had about $5B in revenue last year. (PR)
    | Jul. 15, 2013, 7:05 AM | Comment!
  • Jun. 27, 2013, 3:53 AM
    Hertz (HTZ) is working with retailers such as Lowe's (LOW) and Walgreen (WAG), as well as with parking lot operator Standard Parking (STAN), to expand its reach beyond airports so that customers can rent cars at any hour and for any length of time. Hertz aims expand its neighborhood locations to 12,000 over the next few years from 2,600 now as it looks to challenge the leadership of Avis (CAR) in the hourly rental category and of Enterprise in the non-airport segment.
    | Jun. 27, 2013, 3:53 AM | Comment!
  • Jun. 14, 2013, 3:12 PM
    "We feel the car-rental sector is Virgin territory," says Virgin Group spokesperson Nick Fox. Shares of Avis (CAR -2.4%) and Hertz Global (HTZ -2.6%) sink after Bloomberg reports Richard Branson is interested in acquiring Advantage, which the FTC forced HTZ to sell as part of its deal to buy Dollar Thrifty.
    | Jun. 14, 2013, 3:12 PM | Comment!
  • Jun. 5, 2013, 8:12 AM
    The automobile industry could face some damaging headwinds which will dent auto-related stocks, according to Morgan Stanley's Adam Jonas. He sees the decline in the yen and capacity growth which may be accelerating too fast as two significant risks. On the trickle-down theory,  the analyst thinks Goodyear Tire & Rubber (GT), Tenneco (TEN), Hertz (HTZ), and Avis Budget (CAR) should be avoided.
    | Jun. 5, 2013, 8:12 AM | Comment!
  • Jun. 3, 2013, 4:10 PM
    Avis Budget Group (CAR) refinances its existing $900M in term loan borrowings due 2019 with a $1B new loan due 2019, and lowered the interest rate on the refinanced term loans by 75 basis points. The company also announced that it has redeemed $124M of its 9.625% senior notes due 2018, representing the entire outstanding balance. The new term loan now bears interest at LIBOR plus 2.25% subject to a LIBOR floor of 0.75%, compared to an interest rate of LIBOR plus 2.75%, subject to a LIBOR floor of 1% previously.
    | Jun. 3, 2013, 4:10 PM | Comment!
  • May 1, 2013, 4:34 PM
    Avis Budget (CAR): Q1 EPS of $0.08 beats by $0.06. Revenue of $1.7B (+4% Y/Y) beats by $0.B. (PR)
    | May 1, 2013, 4:34 PM | Comment!
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Company Description
Avis Budget Group Inc provides car and truck rentals and ancillary services to businesses and consumers inNorth America, Europe, Australia, New Zealand and certain other regions.