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Feb. 20, 2020, 1:50 p.m. EST

Dow transports rises to defy Dow industrials selloff, as Avis's stock soars toward 2-year high

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By Tomi Kilgore

The Dow Jones Transportation Average /zigman2/quotes/210598063/realtime DJT +0.75% rallied 44 points, or 0.4%, in afternoon trading Thursday, with 13 of 20 components gaining ground, to defy the selloff suffered by the broader market indexes. The Dow transports were being led higher by shares of Avis Budget Group Inc. /zigman2/quotes/203618115/composite CAR +0.32% , which shot up 14% after the car rental company reported fourth-quarter earnings that beat expectations and provided an upbeat sales forecast. The stock's price gain of $6.03 was adding about 37 points to the Dow transports's price. Avis's stock was on track for the highest close since April 2018. Meanwhile, the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.62% slumped 215 points, or 0.7%, with 22 of 30 components losing ground.

Read the full story:
Dow fights to defend perch above 29,000 as coronavirus uncertainty sparks skittish trading

US : Dow Jones Indices
+74.94 +0.75%
Volume: 150.69M
Aug. 4, 2020 5:20p
US : U.S.: Nasdaq
$ 25.46
+0.08 +0.32%
Volume: 2.53M
Aug. 4, 2020 4:00p
P/E Ratio
Dividend Yield
Market Cap
$1.77 billion
Rev. per Employee
US : Dow Jones Global
+164.07 +0.62%
Volume: 355.46M
Aug. 4, 2020 5:20p

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