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JetBlue Airways said Wednesday that it will terminate its partnership in the northeast U.S. with American Airlines after a federal judge ruled to block the agreement, as the New York airline focuses on its acquisition of Spirit Airlines . American said last month that it would challenge the ruling against the JetBlue partnership, but New York-based JetBlue said Wednesday it would not appeal the decision. JetBlue's deal to buy Spirit came together after JetBlue and American launched a partnership in the Northeast. American Airlines said Wednesday that it will still appeal the ruling. A spokesman for the airline did not immediately say how American could salvage the deal if JetBlue plans to begin unwinding it.
Persons: 2023Flights, Trump Organizations: LAX, Jan, FAA, JetBlue Airways, American Airlines, New, Spirit Airlines, JetBlue, NEA, American, Alliance Locations: Los Angeles, CaliforniaJan, New York, Northeast
Cognizant — Shares of Cognizant rose 8% after the IT company raised its fourth-quarter revenue guidance. American Airlines — Shares rose more than 7% after the airline boosted its revenue and profit estimates for the fourth quarter. Caterpillar — Shares rose 2.4%, notching a 52-week high, after JPMorgan added the manufacturer to its focus list, saying its margin upside potential is currently underappreciated. Bed Bath & Beyond — Bed Bath & Beyond rallied 18%, building on gains after a handful of meme stocks surged Wednesday. The stock surged almost 69% in Wednesday's session.
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