Latest news with #AvisBudgetGroup
Associated Press
3 days ago
- Business
- Associated Press
CAR Investors Have Opportunity to Lead Avis Budget Group, Inc. Securities Fraud Lawsuit
NEW YORK, June 1, 2025 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Avis Budget Group, Inc. (NASDAQ: CAR) between February 16, 2024 and February 10, 2025, both dates inclusive (the 'Class Period'), of the important June 24, 2025 lead plaintiff deadline. So What: If you purchased Avis Budget securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. What to do next: To join the Avis Budget class action, go to or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 24, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. Details of the case: According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Avis Budget crafted and implemented a plan to significantly accelerate its fleet rotation in the fourth quarter of 2024; (2) the foregoing acceleration shortened the useful life of the majority of Avis Budget's vehicles in the Americas segment, thereby reducing their recoverable value; (3) as a result, Avis Budget would be forced to recognize billions of dollars in impairment charges and incur substantial losses; (4) all the foregoing was likely to, and did, have a significant negative impact on Avis Budget's financial results; (5) accordingly, Avis Budget's financial and/or business prospects were overstated; and (6) as a result, defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Avis Budget class action, go to call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: or on Twitter: or on Facebook: Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 [email protected] View original content to download multimedia: SOURCE THE ROSEN LAW FIRM, P. A.
Associated Press
5 days ago
- Business
- Associated Press
ROSEN, LEADING INVESTOR RIGHTS COUNSEL, Encourages Avis Budget Group, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action
New York, New York--(Newsfile Corp. - May 30, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Avis Budget Group, Inc. (NASDAQ: CAR) between February 16, 2024 and February 10, 2025, both dates inclusive (the 'Class Period'), of the important June 24, 2025 lead plaintiff deadline. SO WHAT: If you purchased Avis Budget securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join the Avis Budget class action, go to or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 24, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. DETAILS OF THE CASE: According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Avis Budget crafted and implemented a plan to significantly accelerate its fleet rotation in the fourth quarter of 2024; (2) the foregoing acceleration shortened the useful life of the majority of Avis Budget's vehicles in the Americas segment, thereby reducing their recoverable value; (3) as a result, Avis Budget would be forced to recognize billions of dollars in impairment charges and incur substantial losses; (4) all the foregoing was likely to, and did, have a significant negative impact on Avis Budget's financial results; (5) accordingly, Avis Budget's financial and/or business prospects were overstated; and (6) as a result, defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Avis Budget class action, go to call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: or on Twitter: or on Facebook: Attorney Advertising. Prior results do not guarantee a similar outcome. ------------------------------- Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 [email protected] To view the source version of this press release, please visit
Yahoo
5 days ago
- Automotive
- Yahoo
Trends & Strategies Shaping the Middle East's Car Rental Industry 2025-2030, Featuring Avis Budget Group, Hertz Corp., Enterprise Holdings, Fast Rent a Car, Sixt and More
Dublin, May 30, 2025 (GLOBE NEWSWIRE) -- The "Middle East Car Rental - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2025-2030)" report has been added to Middle East Car Rental Market is expected to register a CAGR of 10.42% during the forecast period. The Middle-East Car Rental Market is moderately consolidated with international and regional players such as Avis Budget Group Inc, SIXT, Hertz Corp, Theeb Rent A Car, Enterprise Holdings Inc, and others. The major rental companies are making joint ventures and partnerships to launch newer products and include an edge over their market for car rentals was severely impacted by the COVID-19 pandemic. The COVID-19 pandemic has caused the region's car rental market to slow down completely due to the sudden and complete suspension of transportation. The Middle Eastern countries' rental car demand continued to decline as a result of the region's declining preference for shared mobility. However, in the aftermath of the pandemic, as the number of tourists has significantly increased, the Middle East's demand for car rentals has significantly increased and is anticipated to continue throughout the forecast the long term, the car rental market's growth is favorable due to stringent government legislation on purchase and car driving in the country. Using public transportation can become time-consuming and unpredictable. Moreover, public transport doesn't give an end-to-end ride, which is especially unfavorable among every Middle Eastern nation, expanding economies like Oman and the United Arab Emirates have fueled the rental car market. Among the Middle Eastern countries, Saudi Arabia generates the most revenue from car rentals. Outstation, event, self-driving, employee transportation, airport transportation, and local use are just a few examples of the many uses for car rentals. In addition, they are providing insurance, entertainment systems, and additional services. The developed Middle Eastern nations are also starting to take notice of the rise of electric cars, which offer the same functionality with the added benefit of having fewer negative environmental every Middle Eastern nation, expanding economies like Oman and the United Arab Emirates have fueled the rental car market. Among the Middle Eastern countries, Saudi Arabia generates the most revenue from car rentals. Outstation, event, self-driving, employee transportation, airport transportation, and local use are just a few examples of the many uses for car rentals. In addition, they are providing insurance, entertainment systems, and additional services. The developed Middle Eastern nations are also starting to take notice of the rise of electric cars, which offer the same functionality with the added benefit of having fewer negative environmental East Car Rental Market Trends Online Rental Booking Continues to Witness Major Demand Rise in Tourism Activities Key Topics Covered1 INTRODUCTION1.1 Study Assumptions1.2 Scope of the Study2 RESEARCH METHODOLOGY3 EXECUTIVE SUMMARY4 MARKET DYNAMICS4.1 Market Drivers4.2 Market Restraints4.3 Porter's Five Forces Analysis4.3.1 Bargaining Power of Suppliers4.3.2 Bargaining Power of Buyers/Consumers4.3.3 Threat of New Entrants4.3.4 Threat of Substitute Products4.3.5 Intensity of Competitive Rivalry5 MARKET SEGMENTATION (Value in USD)5.1 Booking type5.1.1 Online booking5.1.2 Offline booking5.2 Application5.2.1 Leisure/Tourism5.2.2 Daily utility5.3 Vehicle Type5.3.1 Economy cars5.3.2 Luxury cars5.4 End-User Type5.4.1 Self-driven5.4.2 Chauffeur5.5 Country5.5.1 Saudi Arabia5.5.2 Kuwait5.5.3 United Arab Emirates5.5.4 Qatar5.5.5 Rest of Middle East6 COMPETITIVE LANDSCAPE6.1 Vendor Market Share6.2 Company Profiles6.2.1 Avis Budget Group Inc.6.2.2 Hertz Corp.6.2.3 Enterprise Holdings Inc.6.2.4 Fast Rent a Car6.2.5 Sixt SE6.2.6 Europcar6.2.7 Hanco6.2.8 Theeb Rent A Car6.2.9 National Rent A Car7 MARKET OPPORTUNITIES AND FUTURE TRENDSFor more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Yahoo
26-05-2025
- Automotive
- Yahoo
Ground Transportation Stocks Q1 In Review: Avis Budget Group (NASDAQ:CAR) Vs Peers
As the craze of earnings season draws to a close, here's a look back at some of the most exciting (and some less so) results from Q1. Today, we are looking at ground transportation stocks, starting with Avis Budget Group (NASDAQ:CAR). The growth of e-commerce and global trade continues to drive demand for shipping services, especially last-mile delivery, presenting opportunities for ground transportation companies. The industry continues to invest in data, analytics, and autonomous fleets to optimize efficiency and find the most cost-effective routes. Despite the essential services this industry provides, ground transportation companies are still at the whim of economic cycles. Consumer spending, for example, can greatly impact the demand for these companies' offerings while fuel costs can influence profit margins. The 15 ground transportation stocks we track reported a slower Q1. As a group, revenues missed analysts' consensus estimates by 2.8%. In light of this news, share prices of the companies have held steady as they are up 4.1% on average since the latest earnings results. The parent company of brands such as Zipcar and Budget Truck Rental, Avis (NASDAQ:CAR) is a provider of car rental and mobility solutions. Avis Budget Group reported revenues of $2.43 billion, down 4.7% year on year. This print fell short of analysts' expectations by 2.9%. Overall, it was a slower quarter for the company with a significant miss of analysts' adjusted operating income estimates. 'We made substantial progress on our fleet rotation strategy during the first quarter, disposing of a record number of vehicles,' said Joe Ferraro, Avis Budget Group Chief Executive Officer. The stock is up 18.6% since reporting and currently trades at $119.05. Read our full report on Avis Budget Group here, it's free. Employing thousands of drivers across the country to make deliveries, Schneider (NYSE:SNDR) makes full truckload and intermodal deliveries regionally and across borders. Schneider reported revenues of $1.40 billion, up 6.3% year on year, in line with analysts' expectations. The business had a very strong quarter with a solid beat of analysts' adjusted operating income estimates. The market seems happy with the results as the stock is up 8.1% since reporting. It currently trades at $23.21. Is now the time to buy Schneider? Access our full analysis of the earnings results here, it's free. Founded in 1932, Universal Logistics (NASDAQ:ULH) is a provider of customized transportation and logistics solutions operating throughout the United States and in Mexico, Canada, and Colombia. Universal Logistics reported revenues of $382.4 million, down 22.3% year on year, falling short of analysts' expectations by 4.5%. It was a disappointing quarter as it posted a significant miss of analysts' EBITDA and EPS estimates. Universal Logistics delivered the slowest revenue growth in the group. As expected, the stock is down 14.4% since the results and currently trades at $23.03. Read our full analysis of Universal Logistics's results here. Covering billions of miles throughout North America, Landstar (NASDAQ:LSTR) is a transportation company specializing in freight and last-mile delivery services. Landstar reported revenues of $1.16 billion, down 1.6% year on year. This result topped analysts' expectations by 1.4%. Zooming out, it was a mixed quarter as it also produced a decent beat of analysts' Van Equipment revenue estimates but a miss of analysts' EBITDA estimates. The stock is down 2.9% since reporting and currently trades at $139.60. Read our full, actionable report on Landstar here, it's free. Started with 25 trucks and 50 trailers, Covenant Logistics (NASDAQ:CVLG) is a provider of expedited long haul freight services, offering a range of logistics solutions. Covenant Logistics reported revenues of $269.4 million, down 3.4% year on year. This print lagged analysts' expectations by 4.5%. Overall, it was a disappointing quarter as it also recorded a miss of analysts' Freight revenue estimates and a significant miss of analysts' adjusted operating income estimates. The stock is up 17.1% since reporting and currently trades at $22. Read our full, actionable report on Covenant Logistics here, it's free. Thanks to the Fed's series of rate hikes in 2022 and 2023, inflation has cooled significantly from its post-pandemic highs, drawing closer to the 2% goal. This disinflation has occurred without severely impacting economic growth, suggesting the success of a soft landing. The stock market thrived in 2024, spurred by recent rate cuts (0.5% in September and 0.25% in November), and a notable surge followed Donald Trump's presidential election win in November, propelling indices to historic highs. Nonetheless, the outlook for 2025 remains clouded by potential trade policy changes and corporate tax discussions, which could impact business confidence and growth. The path forward holds both optimism and caution as new policies take shape. Want to invest in winners with rock-solid fundamentals? Check out our Hidden Gem Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate. Join Paid Stock Investor Research Help us make StockStory more helpful to investors like yourself. Join our paid user research session and receive a $50 Amazon gift card for your opinions. Sign up here. Sign in to access your portfolio
Yahoo
14-05-2025
- Business
- Yahoo
Avis Budget Group Announces Pricing Of $600 Million Of Senior Notes
PARSIPPANY, N.J., May 14, 2025 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) (the 'Company') announced today that its wholly-owned subsidiaries, Avis Budget Car Rental, LLC and Avis Budget Finance, Inc. (together, the 'Issuers'), priced a private offering of $600 million aggregate principal amount of 8.375% senior notes due 2032 (the 'Notes'), which represents a $100 million increase from the previously announced size of the offering. The Notes will have a maturity date of June 15, 2032. The closing of the offering of the Notes is expected to occur on May 19, 2025, subject to customary closing conditions. The Notes will be issued at par and guaranteed on a senior unsecured basis by the Company and certain of its U.S. subsidiaries. The Company intends to use the net proceeds from the offering of the Notes for general corporate purposes, which may include repayment of indebtedness, including, without limitation, repayment of the Company's floating rate term loan A maturing in December 2025 and a portion of its outstanding fleet debt, and to pay fees and expenses in connection with the foregoing. The Notes and related guarantees are being offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the 'Securities Act'), or, outside the United States, to persons other than 'U.S. persons' in compliance with Regulation S under the Securities Act. The Notes and related guarantees have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. This press release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any securities. Any offers of the Notes will be made only by means of a private offering memorandum. About Avis Budget GroupWe are a leading global provider of mobility solutions, both through our Avis and Budget brands, which have approximately 10,250 rental locations in approximately 180 countries around the world, and through our Zipcar brand, which is the world's leading car sharing network. We operate most of our car rental offices in North America, Europe and Australasia directly, and operate primarily through licensees in other parts of the world. We are headquartered in Parsippany, N.J. Forward-Looking StatementsStatements regarding the Notes offering and the expected use of proceeds therefrom are 'forward-looking statements' and are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed in such forward-looking statements. These risks and uncertainties include, but are not limited to, the ability to complete the offering on favorable terms, if at all, and general market conditions which might affect the offering. Additional information concerning these and other important risks and uncertainties can be found in the Company's filings with the SEC, including under the captions 'Forward-Looking Statements' and 'Risk Factors' in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025. The Company undertakes no obligation to update any forward-looking statements to reflect subsequent events or circumstances. Investor Relations Contact:David Calabria, IR@ Media Relations Contact:Media Relations Team, ABGPress@
