October 23, 2020
car

NASCAR driver Alex Bowman replacing Jimmie Johnson in the No. 48 car in 2021

CHARLOTTE, N.C. — Hendrick Motorsports dropped a highly anticipated announcement Tuesday afternoon, naming Alex Bowman as the driver for the No. 48 Chevrolet next season in place of seven-time NASCAR champion Jimmie Johnson.



Jimmie Johnson wearing a military uniform: Alex Bowman, driver of the #88 Nationwide Chevrolet, talks with Jimmie Johnson, driver of the #48 Ally Chevrolet, during qualifying for the Monster Energy NASCAR Cup Series Big Machine Vodka 400 at the Brickyard at Indianapolis Motor Speedway on Sept. 08, 2019 in Indianapolis, IN.


© Chris Graythen/Getty Images North America/TNS
Alex Bowman, driver of the #88 Nationwide Chevrolet, talks with Jimmie Johnson, driver of the #48 Ally Chevrolet, during qualifying for the Monster Energy NASCAR Cup Series Big Machine Vodka 400 at the Brickyard at Indianapolis Motor Speedway on Sept. 08, 2019 in Indianapolis, IN.

Bowman, who drives the No. 88 for Hendrick in the Cup Series, will be the second driver in the car made famous by Johnson. The 27-year-old from Tucson, Ariz., has competed in the playoffs all three years he has been with Hendrick. He has amassed two wins and 14 top-fives since his rookie Cup start in 2014.

His latest victory at Auto Club Speedway in March

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car

Hedge Funds Aren’t Crazy About Avis Budget Group Inc. (CAR) Anymore

We know that hedge funds generate strong, risk-adjusted returns over the long run, which is why imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, professional investors have to conduct complex analyses, spend many resources and use tools that are not always available for the general crowd. This doesn’t mean that they don’t have occasional colossal losses; they do. However, it is still a good idea to keep an eye on hedge fund activity. With this in mind, let’s examine the smart money sentiment towards Avis Budget Group Inc. (NASDAQ:CAR) and determine whether hedge funds skillfully traded this stock.

Is Avis Budget Group Inc. (NASDAQ:CAR) a buy right now? Investors who are in the know were getting less optimistic. The number of long hedge fund bets were cut by 2 lately. Avis Budget Group Inc. (NASDAQ:CAR)

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car

Jimmie Johnson will be replaced in the 48 car by Alex Bowman

Hendrick Motorsports dropped a highly anticipated announcement Tuesday afternoon, naming Alex Bowman as the driver for the No. 48 Chevrolet next season in place of seven-time NASCAR champion Jimmie Johnson.

Bowman, who drives the No. 88 for Hendrick in the Cup Series, will be the second driver in the car made famous by Johnson. The 27-year-old from Tuscon, Ariz., has competed in the playoffs all three years he has been with Hendrick. He has amassed two wins and 14 top-fives since his rookie Cup start in 2014.

His latest victory at Auto Club Speedway in March locked in his spot in the 2020 postseason, and he sits 22 points above the cutoff to advance to the Round of 8 following this weekend’s race at the Charlotte Roval.

“Every season, Alex gets better,” Hendrick Motorsports owner Rick Hendrick said in a statement. “Not only do we see it in the statistics,

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St. Paul announces community meetings to address electric vehicle project



logo: HourCar is a St. Paul based non-profit where members share on of about a dozen Toyota Prius'.


© Provided by Twin Cities Pioneer Press
HourCar is a St. Paul based non-profit where members share on of about a dozen Toyota Prius’.

A project developed by St. Paul, Minneapolis, HOURCAR, and Xcel Energy aims to encourage electric vehicle use in the Twin Cities by creating a network of electric vehicle charging stations and a car-sharing service powered by renewable energy.

The project — the Twin Cities Electric Vehicle Mobility Network — is expected to launch in 2021. In preparation St. Paul is hosting two online community meetings at the end of October discuss car-sharing services and proposed charging hub locations. There will be one meeting for each of the cities planned charging hub locations.

The Minneapolis meeting will be held from 5:30 p.m. to 7 p.m. on Oct. 26 and the St. Paul meeting from 5:30 p.m. to 7 p.m. on Oct. 28. Meetings will be recorded and

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car

Metro selects Hitachi Rail to build its next-generation rail car

Metro General Manager Paul J. Wiedefeld informed board members of the decision in a letter, a copy of which was obtained by The Washington Post.

Terms of the contract have not been finalized, and Metro declined to comment further because the two sides are in negotiations.

“The 8000-Series rail car procurement process remains active, and we are unable to comment at this stage of the process,” Metro spokesman Dan Stessel said. “We are excited to share information with Metro riders as soon as a contract is awarded.”

Metro plans to order 256 cars, with an option to purchase up to 800. The transit agency told bidders that it will incentivize the building of a local assembly plant for the project, which could potentially last beyond the transit agency’s contract and become a source of new rail cars and jobs for years.

Hitachi Global is a more than 100-year-old Japan-based corporation

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Solid Preliminary Results Drive Group 1 Automotive 20% Higher

What happened

Shares of Group 1 Automotive (NYSE:GPI), owner and operator of 186 automotive dealerships, jumped over 20% higher Tuesday after the company released preliminary third-quarter results that included a number of positive developments for investors.

So what

The COVID-19 pandemic hit the automotive industry with plunging showroom traffic and production disruptions that have had negative ripple effects since March. However, demand for new vehicles has broadly rebounded and Group 1 Automotive’s preliminary third-quarter results support the idea the industry is gaining momentum. Management expects third-quarter adjusted earnings per share to check in between $6.40 to $6.80, well above analysts’ estimates of $3.73 per share. The upbeat third-quarter earnings weren’t the only positive development as management noted that higher gross margin helped offset lower sales volumes. Management also announced a $200 million share repurchase authorization and expects to reinstate its quarterly cash dividend in mid-November.

rows of vehicles on a dealership lot

Image source: Getty Images.

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car

Alex Bowman to drive No. 48 car in 2021

Car owner Rick Hendrick has tabbed Alex Bowman to replace Jimmie Johnson in the No. 48 car next season, the team announced Tuesday.

The 27-year-old Bowman is in his third full season at Hendrick Motorsports. He has two career victories, including a win at Auto Club Speedway in March. Bowman will remain with crew chief Greg Ives. 

“We have tremendous faith in this team,” Hendrick said in a statement from the team. “Every season, Alex gets better. Not only do we see it in the statistics, but his confidence and leadership have truly blossomed. Today he’s a proven winner and playoff contender, and his best years are ahead. Greg has won championships and races, and he brings the No. 48 pedigree that’s invaluable. When you add in the amazing enthusiasm and support from Ally, it’s quite a combination. Their partnership makes it all possible, and we look forward to celebrating

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5 Top Stovk Gainers for Tuesday



a blue pool of water: Alteryx, Group 1 Automotive: 5 Top Stovk Gainers for Tuesday


© TheStreet
Alteryx, Group 1 Automotive: 5 Top Stovk Gainers for Tuesday

Stocks were mixed Tuesday after Federal Reserve Chairman Jerome Powell warned the U.S. recovery would be weak without additional fiscal support from the government.

Here are some of the top stock gainers for Tuesday

1. Alteryx | Percentage Increase 26%

Alteryx shares jumped after the data-analytics-software company raised its sales outlook and named a new CEO. Mark Anderson, a current board member, is succeeding co-founder Dean Stoecker.

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2. Group 1 Automotive | Percentage Increase 15%

Group 1 Automotive was climbing after the auto retailer offered positive guidance for the third quarter, announced a new $200 million share buyback program and said it would reinstate its quarterly cash dividend which was suspended during the pandemic.

3. Endo International | Percentage Increase 16%

Endo International rose a day after Piper Sandler analyst David Amsellem reiterated an overweight rating

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The 2020 Popular Mechanics Automotive Excellence Awards

Photo credit: Marc Urbano/Car and Driver
Photo credit: Marc Urbano/Car and Driver

From Popular Mechanics

If there’s one thread woven through all of the best cars of 2020 below, it is practicality. And capability. And more premium features and specs making their way down to more affordable models. Alright, so it’s hard to declare one overarching trend this year in the ever-broadening vehicle market. Below, you’ll find the first mid-engine Corvette that’s within financial reach for more of us, a pickup with an interior so nice you might forget you’re sitting in a beast of a hauler, and a campervan that finally captures a certain Westfalia vibe while being a legitimate errand-running and daily driver.

Throughout the year, we got behind the wheels of these crossovers, SUVs, sedans, vans, trucks, wagons, and sports cars, driving them on highways, city streets, and rutted forest roads (where it made sense). We also cross-referenced our experiences in them with

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Transportation of grains from Punjab comes to a halt as farmers continue blockade of railway tracks – chandigarh

The transportation of foodgrains from Punjab to other states has come to a standstill with the farmers protesting against the Centre’s new agriculture laws blocking nearly all the major rail routes in the state.

The situation is such that grain stocks in the state are piling up with the stock of rice and wheat touching 215 lakh tonne. It would be a tough task for the state agencies to manage the pile-up as fresh paddy crop, for which the procurement has already begun, is already reaching the storage points.

Nearly 170 lakh tonne paddy is expected to arrive in the mandis for procurement in October and November. Currently, 147 lakh tonne wheat and 68 lakh tonne rice is stored in the state’s godowns.

“Since the farmers are blocking 35 major rail routes in the state, it is tough for us to reach the storage points,” said an officer of Food

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