Avis Budget Group stock upgraded to buy vs. sell at Goldman Sachs

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Dow transports surge, with all 20 components gaining ground

The Dow Jones Transportation Average surged 363 points, or 4.1%, in afternoon trade Friday amid a broad market rally, erasing the previous session’s 3.5% tumble, with all 20 components contributing to gains. The biggest percentage gainer was Avis Budget Group Inc.’s stock, which shot up 8.3% after closing Thursday at the lowest level since June 20, 2017. The biggest contributors to the Dow transports’s price gains were shares of FedEx Corp. and Norfolk Southern Corp. . FedEx’s stock rose $7.18, or 4.6%, to add about 44 points to the index, and Norfolk shares gained $6.15, or 4.3%, to add about 37 points. Meanwhile, the Dow transports were still down 20.1% since closing at a record 11,570.84 on Sept. 14. In comparison, the Dow Jones Industrial Average was up 800 points, or 3.5%, on Friday, but still down 12.5% since closing at a record 26,828.39 on Oct. 3.

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