Avis's Stock Drop Accounts For The All Of The Dow Transports' Loss

By MarketWatch Pulse

Avis Budget Group Inc.'s stock plunged $5.95, or 11%, on Tuesday, in the wake of the car rental's company disappointing third-quarter results and outlook released late Monday. Based on the divisor used to calculate the Dow Jones Transportation Average , which is a price-weighted index, Avis's stock price decline shaved 36.24 points off the Dow transports' price. Coincidentally, the Dow transports fell 36.24 points Tuesday, or 0.4%, while the Dow Jones Industrial Average gained 89.39 points, or 0.5%. Among other Dow transports components, the shares of Expeditors International of Washington Inc. fell 2.1% and JetBlue Airways Corp. shed 1.2%, while Kansas City Southern's stock climbed 2.2%.

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