LOS ANGELES, April 28, 2025 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Avis Budget Group, Inc. ("Avis Budget" or "the Company") (NASDAQ: CAR) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.Investors who purchased the Company's securities between February 16, 2024 and February 10, 2025, inclusive (the "Cla ...

ATLANTA, April 28, 2025 (GLOBE NEWSWIRE) -- A shareholder class action lawsuit has been filed against Avis Budget Group, Inc. (“Avis Budget” or “the Company”) (NASDAQ: CAR). The lawsuit alleges that Defendants made materially false and misleading statements and/or failed to disclose material adverse information regarding the Company’s business, operations, and prospects, including allegations that: (i) Avis Budget crafted and implemented a plan to significantly accelerate its fleet rotation in the fourth qu ...

Investment Rating - The report assigns an "Overweight" (OW) rating to General Motors (GM) and Ford, while Tesla and Rivian are rated "Underweight" (UW) [6][7]. Core Insights - The automotive industry is experiencing varied performance metrics across different companies, with GM and Ford showing potential upside in their stock prices, while Tesla and Rivian face significant downside risks [6][7]. - The report highlights the importance of valuation metrics such as EV/EBITDA, P/E ratios, and sales growth projections for assessing investment opportunities within the automotive sector [6][22]. Global Auto OEMs Investment Comparables - General Motors (GM) has a current price of $44.57 with a market cap of $43.067 billion and a target price of $53.00, indicating a 19% upside potential [6]. - Ford (F) is priced at $9.63 with a market cap of $38.294 billion and a target price of $11.00, representing a 14% upside [6]. - Ferrari (RACE) is valued at $439.97 with a target price of $460.00, showing a 5% upside [6]. - Tesla (TSLA) is currently priced at $241.37 with a target price of $120.00, indicating a -50% downside [6]. - Rivian (RIVN) has a price of $11.60 with a target price of $11.00, reflecting a -5% downside [6]. Global Auto Parts Suppliers Valuation Metrics - The average EV/EBITDA for US auto parts suppliers is projected at 1.8x for 2024, with a corresponding EBITDA margin of 12% [22]. - Aptiv (APTV) is rated "Overweight" with a current price of $51.71 and a target price of $102, indicating a 97% upside [22]. - Borg Warner (BWA) is rated "Overweight" with a price of $26.45 and a target price of $46, representing a 74% upside [22]. - Lear Corp (LEA) is rated "Overweight" with a price of $79.42 and a target price of $140, indicating a 76% upside [22]. Performance Metrics - The report indicates that the average revenue CAGR for US auto parts suppliers is projected to be 2% from 2023 to 2025 [74]. - The EBITDA margin for US auto parts suppliers is expected to be around 12% in 2025, with some companies showing higher margins [74][83]. - The report also highlights the financial returns of various suppliers, with some companies achieving significant returns on invested capital (ROIC) [54][56].

Core Viewpoint - The Avis Budget class action lawsuit alleges that the company and its executives made misleading statements regarding the financial health and operational strategies, leading to significant financial losses and impairment charges [3][4]. Group 1: Lawsuit Details - The class action lawsuit seeks to represent purchasers of Avis Budget Group, Inc. securities from February 16, 2024, to February 10, 2025 [1]. - The lawsuit is titled Merriam v. Avis Budget Group, Inc., and is filed in the District of New Jersey [1]. - The allegations include violations of the Securities Exchange Act of 1934 by Avis Budget and its top executives [1][3]. Group 2: Financial Impact - Avis Budget reported a loss of $1.96 billion, or $55.66 per share, for the fourth quarter of 2024, compared to a profit of $259 million, or $7.10 per share, for the same period in the previous year [4]. - The financial results were attributed to a strategy change that accelerated fleet rotations, resulting in a one-time non-cash impairment of $2.3 billion and additional non-cash charges of $180 million [4]. - Following the announcement of these results, Avis Budget's stock price fell nearly 7% [4]. Group 3: Management Changes - The lawsuit notes that CEO Joseph A. Ferraro will transition to a Board Advisor role effective June 30, 2025, with Brian Choi taking over as CEO on July 1, 2025 [4]. Group 4: Legal Representation - Robbins Geller Rudman & Dowd LLP is representing investors in the class action lawsuit, known for securing significant monetary relief for investors in securities fraud cases [6]. - The firm has recovered over $2.5 billion for investors in 2024 alone, highlighting its prominence in the field [6].

Group 1: Trade and Market Impact - Investors showed relief on April 22 due to signs of easing trade tensions, with hints from President Trump and Treasury Secretary Scott Bessent about potential reductions in the 145% tariffs on Chinese goods [1] - The positive developments regarding tariffs have led to a bullish market trend since April 22, with expectations of further gains as more tariff-related good news is anticipated [2] Group 2: Stock Screening and Recommendations - A screening process has been designed to identify stocks based on improving broker recommendations and upward revisions in earnings estimates over the past four weeks, incorporating the price/sales ratio as a complementary valuation metric [3] - The screening criteria include a net upgrade in ratings, percentage change in earnings estimates, price-to-sales ratio, stock price above $5, average daily volume over 100,000 shares, and market capitalization in the top 3000 [4][5] Group 3: Featured Stocks - Avis Budget operates as a leading vehicle rental operator with a fleet of nearly 695,000 vehicles, benefiting from strong demand in North America [6] - ABM Industries provides integrated facility solutions and has a strong earnings surprise history, with an average beat of 9.6% over the last four quarters [7] - CVR Energy focuses on renewable energy and petroleum refining, committed to developing renewable biofuels [9] - Delek US Holdings is an independent refiner with significant competitive advantages in the Permian Basin, achieving an average earnings beat of 22.3% [10][11] - Asbury Automotive Group's diversified product mix and e-commerce platform, Clicklane, are driving growth and improving its risk profile [11][12]

Core Points - Avis Budget Group, Inc. plans to report its first quarter 2025 results after market close on May 7th, 2025 [1] - A conference call for institutional investors will be held on May 8th, 2025 at 8:30 a.m. Eastern time to discuss the results [1] Company Overview - Avis Budget Group is a leading global provider of mobility solutions with approximately 10,250 rental locations in around 180 countries [3] - The company operates its car rental offices primarily in North America, Europe, and Australasia, while using licensees in other regions [3] - The Zipcar brand, part of Avis Budget Group, is recognized as the world's leading car sharing network [3]

SAN JOSE, Calif., April 14, 2025 /PRNewswire/ -- Anixa Biosciences, Inc. ("Anixa" or the "Company") (NASDAQ: ANIX), a biotechnology company focused on the treatment and prevention of cancer, today announced that it has received a Notice of Allowance from the United States Patent and Trademark Office (USPTO) for a new patent application covering its chimeric antigen receptor-T cell (CAR-T) technology. SOURCE Anixa Biosciences, Inc. Statements that are not historical fact may be considered forward-looking sta ...

Avis Budget Group, Inc.’s (CAR) top line is gaining from the surge in demand for the North American car rental industry. The company tackles supply-chain disruption by acquiring vehicles at favorable prices and adjusting its fleet size swiftly per demand. Shareholder-friendly policies are added advantages.Meanwhile, rising fleet costs weigh on the company’s bottom line. Avis Budget Group struggles to boost profitability and scalability due to heightened competition within the car rental industry.CAR reporte ...

Core Viewpoint - Avis Budget Group (CAR) shares have increased over 20% in the past week due to President Trump's 25% tariffs on imported vehicles, which are expected to enhance the fleet value for Avis [1] - The positive investor sentiment is driven by the implied pricing leverage Avis will have for its rental car services [1] Group 1: Stock Performance - Avis stock has rebounded from its 52-week low of $54 in March but remains 43% below its one-year peak of over $130 from last May [2] - The company has missed bottom-line expectations in three of its last four quarterly reports, although it recently surpassed Q4 EPS estimates with an adjusted loss of -$0.23 compared to estimates of -$0.96 [3] Group 2: Earnings Outlook - Annual earnings for Avis are projected to rebound to $8.84 per share this year, up from $3.74 in fiscal 2024, following a one-time non-cash impairment of $2.3 billion last year [4] - EPS is expected to increase by 63% in FY26 to $14.47, although estimates for FY25 and FY26 have declined over the last 60 days [5][6] Group 3: Sales Projections - Total sales for Avis are expected to rise by 1% in FY25 and by another 2% in FY26, reaching $12.2 billion [7] Group 4: Valuation Comparison - Avis currently trades at 8.7X forward earnings, significantly lower than the Zacks Transportation-Services Industry average of 16.5X [10] - Avis trades at less than 1X sales, which aligns with the industry average, despite Hertz being unprofitable and not suitable for P/E comparison [10] Group 5: Strategic Considerations - Avis stock is considered attractive for long-term investors under $100 per share, but there may be better buying opportunities ahead [12] - A decline in EPS estimates could lead to a sell rating, while an increase in EPS revisions could result in a buy rating if the tariffs positively impact operations [13]

Group 1 - Avis Budget Group, Inc. (NASDAQ: CAR) has been a long-term underperformer, with the stock losing approximately 41% of its value [1] - Recently, shares of Avis Budget Group gained about 20% in a short period [1] - The analysis is based on over fifteen years of experience in making contrarian bets and stock-specific turnaround stories [1]