Today's Research Reports on Stocks to Watch: Avis Budget Group and Hertz Global Holdings
NEW YORK, NY / ACCESSWIRE / June 27, 2017 / Shares of Avis Budget Group and Hertz Global Holdings were both on fire in Monday trading after both companies announced big partnerships. Avis has teamed up with tech giant Google's self-driving unit Waymo, while Hertz Global has teamed up with tech giant Apple. It was a great day for traders of both rental car companies as well as investing legend Carl Icahn who owns about 35% of Hertz's outstanding shares according to FactSet.
RDI Initiates Coverage on:
Avis Budget Group, Inc.
https://ub.rdinvesting.com/news/?ticker=CAR
Hertz Global Holdings, Inc.
https://ub.rdinvesting.com/news/?ticker=HTZ
Avis Budget Group, Inc.'s shares closed up a whopping 14.15% on Monday on volume more than five times higher than usual. Investors and traders were thrilled to learn that Avis has partnered with Google parent Alphabet's self-driving unit Waymo. The two companies signed a multi-year agreement on Monday where the rental car firm will manage Waymo's growing fleet of autonomous vehicles. The companies said they would launch their partnership in Phoenix, Arizona. Waymo head John Krafcik stated, "With thousands of locations around the world, Avis Budget Group can help us bring our technology to more people, in more places." Shares of Avis gained as much as 21% yesterday after the news was released. It was the biggest intra-day gain that the company has seen in over five years.
Access RDI's Avis Budget Group Research Report at:
https://ub.rdinvesting.com/news/?ticker=CAR
Hertz Global Holdings, Inc.'s shares closed up 13.52% on Monday on colossal trading volume compared to usual. Nearly 33 million shares were traded compared to the stock's average of around 7.4 million. Traders went wild after they find out that Apple has teamed up with Hertz to test its self-driving unit. Bloomberg reported that Apple is leasing a small fleet of cars from Hertz in order to test its self-driving technology. According to the Bloomberg report that cited documents from California's DMV, the tech king will be renting six Lexus RX450h SUVs from Hertz's Donlen fleet management unit. In an interview with Bloomberg not long ago, Apple's CEO Tim Cook has said that self-driving cars are the "mother of all AI projects." He also confirmed that Apple is "focusing on autonomous systems."
Access RDI's Hertz Global Holdings Research Report at:
https://ub.rdinvesting.com/news/?ticker=HTZ
Our Actionable Research on Avis Budget Group, Inc. (NASDAQ: CAR) and Hertz Global Holdings, Inc. (NYSE: HTZ) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
