UPDATE: Avis Budget (CAR) Shares Pressured; Disappointed European Peak Demand for August (HTZ)

September 27, 2016 11:16 AM EDT

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(Updated - September 27, 2016 11:55 AM EDT)

Avis Budget Group (NASDAQ: CAR) and Hertz Global (NYSE: HTZ) shares both moving lower.

UPDATE - Avis Budget CFO David B. Wyshner is presenting at today's Deutsche Bank conference and was said to make cautious comments.

In part, Wyshner said:

  • Peak demand in August for Europe was disappointing.
  • Inbound demand was soft all along the Mediterranean, which negatively impacted pricing in France, Italy, and Spain.
  • Summer travel season in the U.S. "was pretty good"

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