Dollar Thrifty Automotive Group's strong profit outlook for the year lifted share prices across the car rental sector, allaying concerns that higher fuel prices and geopolitical concerns could hit the travel industry. Shares of Dollar Thrifty rose over 4 percent to a life-high of $60 on Tuesday morning on the New York Stock Exchange. Shares of rival Avis Budget were up 4 percent at $17.10 on Nasdaq, while Hertz Global shares were trading 1 percent higher at $15.69. The company, which operates the Dollar Rent A Car and Thrifty Car Rental brands, said it expects a strong summer rental season.
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