Hertz raises U.S. prices as fleet costs increase, from Automotive News.
Hertz Global Holdings Inc. raised prices for rental cars to be picked up Jan. 1 or later. The stock had its biggest gain of the year, and Avis shares soared, too.
Investors, cheered by the prospect of increasing revenue, sent Hertz shares up 8.2 percent on Tuesday to $24.47 after they fell 21 percent this year through Monday. The shares rose slightly in morning trading Wednesday to $24.52 as of noon.
Avis Budget Group Inc. shares rose 9.9 percent on Monday, the biggest increase in 2.5 years, to $64.48. Avis shares retreated 17 cents to $64.31 as of noon Wednesday.