The Boston Globe

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Avis

  February 17, 2012

New Jersey-based Avis fell the most in nearly two years after the auto rental chain posted a wider quarterly loss, reflecting costs tied to its $998 million purchase of Avis Europe PLC. Avis said it lost $170 million, or $1.62 a share, compared with a loss of $24 million, or 23 cents, a year earlier. Analysts had estimated an average profit of 6 cents. Sales rose 33 percent to $1.63 billion but missed estimates.

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