Market Overview - Major U.S. indices showed a rebound with the S&P 500 up approximately 0.6%, the Dow up about 0.3%, and the Nasdaq composite up around 0.8% [6] - The trading day ended with a total of 317 stocks advancing and 185 declining, indicating a generally positive market sentiment [7] Booking Holdings - Booking Holdings reported earnings per share (EPS) of $48.80, aligning closely with street estimates, and revenue of $6.35 billion, slightly above the expected $6.13 billion [8][9] - Gross bookings reached $43 billion, surpassing the anticipated $41.99 billion, but the stock saw limited movement post-announcement [9] - The company’s CEO emphasized the focus on generative AI as an opportunity rather than a threat, aiming to enhance value for travelers and partners [11][12] - Booking Holdings anticipates first-quarter room nights to increase by 5% to 7% and gross bookings growth in the low double digits, with a forecast of 14% to 16% growth for the first quarter [13] Avis Budget - Avis Budget reported a revenue miss of $2.66 billion against expectations of $2.74 billion, resulting in a net loss attributed to a $518 million asset impairment [15] - The company noted a 21% decrease in per unit fleet costs but provided a full-year adjusted EBITDA forecast of $800 million to $1 billion, with the upper end below street estimates [15] Omnicom - Omnicom's fourth-quarter revenue was reported at $5.5 billion, exceeding the street estimate of $4.52 billion, although adjusted EPS was slightly below expectations at $2.59 [17] Cadence Design Systems - Cadence Design Systems experienced a significant stock increase of approximately 7.6% after reporting fourth-quarter results that beat expectations and provided a positive outlook [18] Wingstop - Wingstop shares rose about 10% after reporting adjusted EPS and domestic comp sales growth for the fourth quarter that exceeded consensus estimates, despite concerns about consumer spending [20] DoorDash - DoorDash's fourth-quarter EPS was reported at $0.48, missing estimates of $0.55, with revenue also falling short of expectations for the first quarter [21][22] eBay - eBay's fourth-quarter net revenue was $2.97 billion, surpassing estimates of $2.87 billion, and the company announced plans to acquire Depop from Etsy for approximately $1.625 billion [23][25] Molson Coors - Molson Coors reported net sales of $2.66 billion, slightly below analyst estimates, but underlying EPS beat expectations at $1.21 per share [26] - Year-over-year net sales declined by about 3%, reflecting ongoing challenges in the beer market [27] Carvana - Carvana's fourth-quarter adjusted EBITDA was reported at $511 million, missing the street estimate of $535.7 million, while revenue was $5.6 billion, exceeding expectations [28]

Core Insights - Avis Budget Group has announced a multi-year strategic partnership with Waymo to launch a fully autonomous ride-hailing service in Dallas, marking a significant shift in its business model from traditional car rental to mobility solutions [1][2][3] Company Overview - Avis Budget Group is a leading global provider of mobility solutions, operating approximately 10,250 rental locations in around 180 countries, with a strong presence in North America, Europe, and Australasia [5] Partnership Details - The partnership will see Avis serve as Waymo's fleet operations partner in Dallas, providing end-to-end services including infrastructure, vehicle readiness, maintenance, and depot operations [2] - Waymo will manage the ride-hailing service through its app, while also being responsible for the performance of the Waymo Driver [2] Strategic Goals - This partnership reflects Avis's ambition to expand beyond traditional travel services and actively shape the future of mobility, leveraging its expertise in large-scale fleet management [3] - The initial testing phase is already underway, with a public launch planned for 2026, and intentions to expand to additional cities in the future [2][4] Leadership Statements - Brian Choi, CEO of Avis Budget Group, emphasized the partnership as a pivotal milestone in the company's evolution towards becoming a leading provider of fleet management and operations within the mobility ecosystem [4] - Tekedra Mawakana, co-CEO of Waymo, expressed excitement about bringing the autonomous ride-hailing service to Dallas, highlighting the potential for safe and seamless transportation [4]