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☆ Number of PwC partners taking early retirement jumps amid consulting slowdown
▼ + stars: | 2024-11-23 | by ( Polly Thompson | ) www.businessinsider.com time to read: +2 min

AdvertisementDozens of UK partners at PwC will take early retirement in December, Sky News reported. More PwC partners than usual will take early retirement at the end of this year, marking another shake-up at the firm's UK division since the appointment of a new boss, Marco Amitrano, in Spring. PwC's 1,030 UK partners were informed this week via a voice memo from Amitrano that dozens of partners would take early retirement next month, Sky News reported. AdvertisementThe jump in partners taking early retirement follows a series of changes following Amitrano's elevation to senior partner for the UK and Middle East in April. UK partners at PwC took home an average of £862,000 (about $1.1 million) this financial year, 5% less than they did in 2023.

Persons: PwC, Marco Amitrano, —, Amitrano Organizations: PwC, Sky News, Big, — Deloitte, EY, KPMG, East, Deloitte, Labour Locations: Spring

☆ Activist Ananym has a list of suggestions for Henry Schein. How the firm can help improve profits
▼ + stars: | 2024-11-23 | by ( Kenneth Squire | ) www.cnbc.com time to read: +8 min

Henry Schein is a leading global distributor of health-care products and services primarily to office-based dental and medical practitioners. Health care distribution covers Henry Schein's distribution of dental and medical products, such as laboratory products, pharmaceuticals, vaccines, surgical products, dental specialty products and diagnostic tests. While Henry Schein has successfully carved into the office-based physician niche as the No. Henry Schein is a great company that has gotten sleepy and been allowed to coast when it could have been soaring. Several directors have been in their seats at Henry Schein for over a decade and the board lacks best-in-class distribution expertise.

Persons: Henry Schein, Charlie Penner, Alex Silver, Schein's, Henry Schein's, Patterson, Benco, Schein, Stanley Bergman, Ananym, Ken Squire Organizations: Ananym Capital Management, Jana Partners, P2 Capital Partners, Cardinal Health, 13D Locations: New York, EBITDA ., EBITDA

☆ Asia-Pacific markets set to rise as investors assess Japan inflation data
▼ + stars: | 2024-11-22 | by ( Anniek Bao | ) www.cnbc.com time to read: +1 min

The Tokyo Tower, left, and commercial and residential buildings in Minato district of Tokyo, Japan, on Saturday, Oct. 1, 2022. Photographer: Akio Kon/Bloomberg via Getty ImagesAsia-Pacific markets were set to open higher Friday, tracking a rally on Wall Street, with the S&P logging gains for a fourth straight day. Investors in Asia will assess Japan's October consumer price index data. Singapore is also set to release its third-quarter GDP data, with growth anticipated to accelerate to 4.6% year on year from 4.1% in the prior quarter, according to LSEG data. Hong Kong's Hang Seng index futures were flat from its last close at 19601.11.

Persons: Akio Kon Organizations: Bloomberg, Getty Images, Investors, Reuters, Nikkei Locations: Tokyo, Minato district, Japan, Getty Images Asia, Pacific, Asia, Singapore, Chicago, Osaka, 19601.11

☆ Gold marches towards best week in a year amid escalating Russia-Ukraine conflict
▼ + stars: | 2024-11-22 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were headed for their best week in a year on Friday, supported by safe-haven demand amid further escalations in the Russia-Ukraine war, while investors assessed the outlook for U.S. interest rate cuts. Gold prices were headed for their best week in a year on Friday, supported by safe-haven demand amid further escalations in the Russia-Ukraine war, while investors assessed the outlook for U.S. interest rate cuts. Bullion was up nearly 5% for the week so far, its best week since early October 2023. Gold's appeal is bolstered by geopolitical tensions, economic risks and a low interest rate environment. Meanwhile, the Chicago Federal Reserve President on Thursday reiterated his support for further U.S. interest rate cuts and his openness to slowing them down.

Persons: Bullion, Edward Meir, Bitcoin, Michelle Bowman, Nicholas Frappell Organizations: Trump, Chicago Federal, ABC Refinery Locations: Russia, Ukraine, Dnipro, U.S

☆ Baidu posts 3% drop in third-quarter revenues, beating market expectations
▼ + stars: | 2024-11-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

BEIJING — Chinese tech giant Baidu on Thursday posted a 3% annual drop in third-quarter revenue, nevertheless beating market expectations amid AI cloud growth. Baidu noted a 12% surge in its non-online marketing revenue to the equivalent of $1.1 billion, mainly driven by its artificial intelligence cloud business. Beijing-based Baidu operates one of the major web browser search engines in China, along with a frequently used maps app. Baidu has promoted its Ernie chatbot as a local alternative to OpenAI's ChatGPT, which isn't available in China. "AI Cloud continued to show healthy and sustainable development in the third quarter," he said in the earnings release.

Persons: Robin Li, Ernie, Baidu, Ernie chatbot, Li, Baidu hasn't, Rong Luo, Apollo Organizations: Baidu, CNBC Locations: BEIJING, U.S, Beijing, China

☆ Musk and Ramaswamy float ending remote work for federal employees and ‘large-scale firings’
▼ + stars: | 2024-11-20 | by ( David Ingram | David Ingram Is A Tech Reporter For Nbc News. | ) www.nbcnews.com time to read: +4 min

Incoming Trump administration advisers Elon Musk and Vivek Ramaswamy on Wednesday floated ending remote work for federal workers, calling the practice a “privilege” left over from the pandemic. “Requiring federal employees to come to the office five days a week would result in a wave of voluntary terminations that we welcome: If federal employees don’t want to show up, American taxpayers shouldn’t pay them for the Covid-era privilege of staying home,” the two men wrote. The future of remote work for office-based employees is hotly debated. Some unionized federal workers have criticized Musk and Ramaswamy, saying they don’t know what they’re doing. Erwin said the two tech figures “make absurd claims about government waste and bash dedicated federal employees.” His union says it represents 110,000 federal employees.

Persons: Elon Musk, Vivek Ramaswamy, ”, Biden, Ramaswamy, Donald Trump, Musk, Randy Erwin, Erwin Organizations: Trump, Street, Management, of Government, SpaceX, CNBC, Tesla, National Federation of Federal Employees Locations: Washington

☆ Target shares plummet 18% in premarket trade as it posts disappointing earnings and cuts guidance
▼ + stars: | 2024-11-20 | by ( Nora Redmond | ) www.businessinsider.com time to read: +2 min

The retailer cut its full-year financial guidance and reported sales growth of just 0.3%. Target shares plunged as much as 18% in premarket trading after the retailer posted disappointing third-quarter earnings and lowered its financial guidance for the year. On Wednesday, Target reported adjusted earnings per share of $1.85, down just under 12% year-over-year. AdvertisementIn the release, Target also cut its full-year financial guidance, saying it expects earnings per share of between $8.30 and $8.90. At its second-quarter earnings in August, the retailer said it expected full-year EPS of between $9 and $9.70.

Persons: Brian Cornell Organizations: Analysts, Revenue, Target Corporation, Target, Walmart, Costco

☆ Euro-dollar parity is back in focus as Trump win sparks trade jitters
▼ + stars: | 2024-11-20 | by ( Jenni Reid | ) www.cnbc.com time to read: +4 min

The euro has declined rapidly, meanwhile, briefly dipping below $1.05 on Nov. 14 for the first time since October 2023. Modeling by Barclays' economists shows the euro hitting dollar parity with a 10% tariff on European products and subsequent retaliation. The bank said the prospect of Trump tariffs and fiscal reforms had caused it to revise its view that the dollar would gradually decline through the year, instead seeing the U.S. currency "stronger for longer." Since hitting a low in September 2022, the euro has been comfortably back above parity even if below its long-range average. One of those 2022 factors roared back into focus this week, weighing broadly on European assets: the threat of escalating tensions with Russia.

Persons: Donald Trump, James Reilly, Reilly, George Saravelos, Trump, Saravelos, Goldman Sachs, Goldman Organizations: U.S, Republican, China —, Federal Reserve, Capital Economics, Federal, European Central Bank, FX Research, Deutsche Bank, Trump, Barclays, ECB, Fed Locations: Congress, China, U.S, Europe, Russia, Ukraine

☆ Investing legend Rob Arnott says it's an 'extraordinary opportunity' to make these 3 trades set to deliver over 10% annual returns for a decade — crushing large-cap stocks
▼ + stars: | 2024-11-20 | by ( William Edwards | ) www.businessinsider.com time to read: +3 min

Small-caps, small-cap value, non-US value stocks are expected to outperform with low valuations. Research Affiliates Founder Rob Arnott sees a bear market ahead for large-cap growth stocks. That spells trouble for the S&P 500, which is heavily made up of giant growth stocks like Apple, Microsoft, and Nvidia. Small-cap stocks, small-cap value stocks, and non-US value stocks are all poised to deliver at least 10% returns annually over the next 10 years, he said. Small-cap value stocks (Russell 2000 Value index) are also cheap, with a 14 CAPE ratio.

Persons: Rob Arnott, Arnott, Russell, Vanguard Russell Organizations: Research, Apple, Microsoft, Nvidia, Russell, Equity, Vanguard Locations: Japan, Europe, U.S

☆ Meet the Jersey Mike's founder now worth $7.5 billion after selling his sandwich chain to Blackstone
▼ + stars: | 2024-11-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

AdvertisementMeet Peter Cancro, the Jersey Mike's founder who's selling the sandwich chain to Blackstone. The founder and CEO of Jersey Mike's is now worth an estimated $7.5 billion, propelling him into 390th place on the Bloomberg Billionaires Index. Blackstone said Tuesday it had agreed to buy a majority stake in Jersey Mike's. Jersey Mike's is the second-largest sandwich chain after Subway. Justin Sullivan/Getty ImagesCancro changed the company's name to Jersey Mike's when he began franchising in 1987.

Persons: Peter Cancro, Cancro, that's, Netflix's Reed Hastings, eBay's Jeff Skoll, Giorgio Armani, Mark Cuban, Blackstone, Jersey Mike's, It's, Danny DeVito, Justin Sullivan, — Organizations: Bloomberg, Jersey, —, Hilton Locations: Jersey, Blackstone, Jersey Mike's, Jersey Shore

☆ TJ Maxx parent says holiday shopping is off to a 'strong start,' but its guidance tells another story
▼ + stars: | 2024-11-20 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +5 min

TJX Companies touted a "strong start" to the holiday shopping season on Wednesday, but its shares slid after the fast-growing retailer offered guidance that appeared to underwhelm Wall Street. "The fourth quarter is off to a strong start, and we are excited about our opportunities for the holiday selling season. For its holiday quarter, TJX is expecting comparable sales to grow between 2% and 3%, largely in line with the 3% uptick that StreetAccount analysts had expected. TJX is standing by its comparable sales guidance of 3% growth for the full year, just shy of the 3.2% growth that StreetAccount analysts had expected. It raised its pretax profit margin outlook from 11.2% to 11.3%, which matches StreetAccount's expectations, along with its earnings per share guidance.

Persons: TJX, Ernie Herrman, It's, LSEG, Maxx, TJ Maxx Organizations: TJX Companies, LSEG, Company, It's, HomeGoods, TJX, Brands, United Arab, Burlington, Ross, Bank of America Locations: HomeGoods, Sierra, TJX Canada, Europe, Australia, Dubai, United Arab Emirates, Saudi Arabia, Spain

☆ Stocks making the biggest moves after hours: Nvidia, Snowflake and more
▼ + stars: | 2024-11-20 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Nvidia posted 81 cents in adjusted earnings per share and $35.08 billion in revenue. Analysts surveyed by LSEG were expecting 75 cents in earnings per share and $33.16 billion in revenue. Snowflake — The cloud stock soared 18% after beating earnings expectations for the third quarter and issuing strong guidance. Snowflake posted adjusted earnings of 20 cents per share on $942 million in revenue, while analysts surveyed by LSEG predicted 15 cents in earnings per share and $897 million in revenue. That was roughly in line with the Street's forecast of $1.55 per share in earnings and $2.23 billion in revenue, per FactSet.

Persons: LSEG, Snowflake, Palo, Jack Organizations: Nvidia, Palo Alto Networks, Palo Alto, FactSet

☆ Disney debuts its latest cruise ship, Treasure, as part of a plan to double its fleet by 2031
▼ + stars: | 2024-11-20 | by ( Sarah Whitten | ) www.cnbc.com time to read: +10 min

Next month, the Disney Treasure cruise ship will make its maiden voyage from Port Canaveral, Florida, to the Caribbean, officially becoming the sixth ship in the company's lineup. The cruise ship Disney Treasure. A guest room on the Disney Treasure cruise ship. Worlds of Marvel, a restaurant on Disney's cruise ship Treasure that was inspired by the Marvel Cinematic Universe. Jumbeaux's Sweets, inspired by the ice cream parlor in Disney's "Zootopia," is a gelato and sweets shop on Disney's Treasure cruise ship.

Persons: Minnie, hadn't, Thomas Mazloum, Gavin Doyle, Doyle, —, Coco, Jumbeaux's Sweets, Jumbeaux's, I've, we've, There's Organizations: Disney, Disney Destiny, Oriental Land Company, Disney Cruise, Disney Disney, Royal, Cruise, de Coco, Mariachi Plaza, Pixar, Marvel, Walt Disney Animation Studios, Steakhouse, Skipper, Skipper Society, Cruise Lines International Association, Disney's Oceaneer, Walt Disney Theatre, Lucasfilm Locations: Port Canaveral , Florida, Caribbean, Japan, Royal Caribbean

☆ We're changing our price target on TJX despite the retailer's light guidance
▼ + stars: | 2024-11-20 | by ( ) www.cnbc.com time to read: +6 min

We're raising our TJX price target to $135 per share from $130. The combined T.J. Maxx and Marshalls business unit was impacted by temporary closures resulting from hurricanes Helene and Milton. Guidance TJX sees fiscal 2025 fourth quarter EPS in the range of $1.12 to $1.14, which is below the $1.17 expected. Outside of North America, T.J. Maxx is known as T.K. North Miami Beach, Florida, T.J. Maxx & HomeGoods discount department store, furniture display and welcome sign.

Persons: HomeGoods, Ernie Herrman, Helene, Milton, TJX, Herrman, John Klinger, —, Klinger, Maxx, Jim Cramer's, Jim Cramer, Jim, Jeff Greenberg Organizations: TJX Companies, TJX, Marshalls, Ross Stores, Burlington Stores, CNBC, North, Maxx, Getty Locations: Maxx, HomeGoods, Canada, United States, Spain, North America, North Miami Beach , Florida

☆ Doubts mount over Britain’s ambitious growth plans — with warnings of further tax rises possible
▼ + stars: | 2024-11-19 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

A higher economic growth rate could theoretically boost the government's tax take without the need to raise taxes further, because overall revenues would be higher. The OBR now expects U.K. real GDP growth of 1.1% in 2024, followed by expansion of 2% in 2025, before falling to 1.5%. The Labour government did not immediately respond to CNBC's request for comment on further possible tax changes. 'Desperate' growth ratesThe U.K. economy barely grew in the third quarter, eking out a less-than-expected 0.1% expansion, data from the Office for National Statistics showed Friday. We've had 1% growth, or around 1% growth now since the Financial Crisis.

Persons: Rachel Reeves, James Smith, CNBC's, John Grieve, Reeves, Gieve, —, Labour's, ING's Smith, We've Organizations: Treasury, Getty, Labour, Finance, ING, of, CNBC, National Insurance, Office, National Statistics, Gross Locations: London, England

☆ Stocks making the biggest moves after hours: Keysight Technologies, La-Z-Boy, Dolby Laboratories and more
▼ + stars: | 2024-11-19 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

The electronics test and measurement equipment company's fiscal fourth-quarter results beat analysts' estimates on the top and bottom lines. Dolby Laboratories — The audio technology company advanced 10% after its fiscal fourth-quarter earnings of 61 cents per share topped Street estimates of 45 cents per share, per FactSet. Azek Company — Shares of the residential siding and trim company ticked up 2% after its fiscal fourth-quarter results beat analysts' estimates. Analysts surveyed by FactSet were looking for earnings of 27 cents per share and $339.1 million in revenue. La-Z-Boy reported earnings of 71 cents per share on revenue of $521 million.

Persons: Keysight, FactSet, Dolby Organizations: Dolby Laboratories, Powell Industries, Azek

☆ 89% of Americans say they do not consider themselves wealthy — here's what stands in the way
▼ + stars: | 2024-11-19 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

High home prices and higher mortgage rates along with low inventory have put ownership just out of reach for many households. Jose Luis Pelaez Inc | Digitalvision | Getty ImagesAlthough vacationing has also gotten more expensive, Americans are still determined to travel. Rising debt is another threat to wealthAt the same time, rising consumer debt has weighed on household balance sheets. Nearly half, 44%, of Americans said credit card debt is the biggest threat to their ability to build wealth, according to a separate report by Edelman Financial Engines. "That stands in the way of people building actual wealth and therefore feeling wealthier," she said.

Persons: —, Freddie Mac, Jose Luis Pelaez, Jean Chatzky Organizations: Jose Luis Pelaez Inc, Deloitte, Edelman Financial, Federal Reserve Bank of New, CNBC Locations: Federal Reserve Bank of New York

☆ RFK Jr. is Trump's pick to lead HHS — here's what he could do with that power
▼ + stars: | 2024-11-19 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +13 min

Kennedy will likely have some influence over who the president-elect chooses for those roles, health policy experts said. Ultimately, Kennedy's influence over immunization policy could lead to an increase in diseases preventable by vaccines, several health policy experts told CNBC. Investors are already bracing for a crackdown on food policy, with shares of processed food companies, such as Pepsi and Coca-Cola , falling on Friday. Seigerman said "there is little precedent in recent history for HHS policy dictating or affecting FDA regulation or approval of drugs." In 2023, pharmaceutical companies spent nearly $3 billion on advertising for the 10 most promoted drugs.

Persons: Robert F, Kennedy Jr, Thomas Machowicz, Donald Trump, Kennedy, Trump, trifecta, Spokespeople, Brandon Guerrero, Christina House, Gostin, Josh Michaud, Lawrence Gostin, Michaud, he's, Genevieve Kanter, Kanter, Covid, Richard Frank, Frank, Evan Seigerman, Seigerman, Dave Latshaw, Latshaw, Drugmakers, Joe Biden's, Amy Campbell Organizations: Reuters, Department of Health, Human Services, Republican, HHS, Affordable, Food and Drug Administration, Centers for Disease Control, National Institutes of Health, Centers, Medicare, Services, CNBC, CVS, Los Angeles Times, Getty, Health Defense, NBC News, FDA, NPR, Georgetown University, CDC, Vaccines, Children, Kennedy, NIH, University of Southern, Brookings Schaeffer Initiative, Health, pharma, RFK, BMO Capital, Pepsi, Trump, University of Illinois Chicago School of Law Locations: Phoenix , Arizona, U.S, Compton, Huntington Park, Kennedy ., University of Southern California

☆ Four trades working this morning amid rising geopolitical tensions
▼ + stars: | 2024-11-19 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Geopolitics are raining on the stock market's parade, but other trades are working. U.S. stock futures fell Tuesday as tensions between Ukraine and Russia intensified. S & P 500 and Nasdaq-100 futures shed 1.1% each. That said, four trades are holding up against this backdrop: Gold futures rallied nearly 1% to around $2,640 per ounce. If geopolitical pressure continues to rise, the four trades above could outperform as 2024 wraps up.

Persons: Vladmir Putin, —, DAX, Treasurys, Vladimir Putin's, Peter Boockvar, Cory Kasimov, Robert F, Kennedy Jr, Kasimov Organizations: Dow Jones Industrial, Nasdaq, Global, France's CAC, Bleakley Financial, ISI, Department of Health, Human Services Locations: Ukraine, Russia, Russian, U.S, Europe

☆ One of our lagging stocks has found its stride and is outperforming its peers
▼ + stars: | 2024-11-19 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Jim Cramer said he is "anticipating volatility" in the stock if the company doesn't deliver a clean print. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, We're, Jim, Coterra, Joe Biden, Donald Trump, We've, TJ, Stocks, Jim Cramer's Organizations: CNBC, Palo Alto Networks, Alto, Coterra Energy, TJX, Marshalls, Trump, Walmart Locations: Ukraine, Russia

☆ Texas Bluebonnet curriculum: Officials to vote on state lessons that emphasize Christian Bible lessons
▼ + stars: | 2024-11-19 | by ( Zoe Sottile | ) edition.cnn.com time to read: +10 min

CNN —Officials in Texas are set to vote Tuesday on a new public school curriculum that incorporates lessons from the Bible as early as kindergarten, that provoked criticism from advocacy groups and families across the state. The state Board of Education will vote on revisions to its K-5 reading and English language arts materials, part of Bluebonnet Learning, the Texas Education Agency-developed open education resources. We don’t leave Texans behind.”Ghani also argued that Texas public school teachers are already “overburdened” with the amount of material they’re expected to teach. “But inserting faith-based lessons into public school classrooms, which sounds like what is intended here, is not the study of history or literature. The legislature has also pushed to require that public school classrooms display the Ten Commandments.

Persons: Bill, Jesus, Robert Frost, William Carlos Williams, ”, Mark Chancey, “, Barbara Baruch, “ Don’t, Jonathan Covey, Glenn Melvin, Vitale, ” Melvin, ” David Brockman, –, ” Brockman, Shariq Ghani, don’t, ” Ghani, ’ Charles Haynes, Robert Pondiscio, Greg Abbott Organizations: CNN, Education, Texas Education Agency, Texas AFT, Southern Methodist University, Texas, US, Engel, Texas Freedom Network, “, Foundation, Texans, Freedom, Association of Religion Data, American Enterprise Institute, Republican Locations: Texas, Rome, Roman, “ Texas, The74, Oklahoma, Louisiana

☆ Rocket Lab's CEO practices founder mode like Elon Musk — but he'd rather pan for gold on Earth than live on Mars
▼ + stars: | 2024-11-19 | by ( Ana Altchek | ) www.businessinsider.com time to read: +7 min

AdvertisementHeadquartered in Long Beach, California, Rocket Lab employs over 2,000 people globally. It's an "end-to-end space company," providing launch services, spacecraft, satellite components, and on-orbit management. Rocket Lab is valued at a fraction of that, with a market cap of around $9.5 billion. He said that's the nature of who he is — and the job of running a rocket company. AdvertisementBeck describes running a rocket company as "running through a maze in the middle of the night."

Persons: Peter Beck, Beck, Elon Musk, you've, Donald Trump, Trump, David, faze Beck, Virgin, Virgin Orbit, Jeff Bezos, Rutherford, Ernest Rutherford, We've, we've, doesn't, Beck doesn't, blissfully Organizations: SpaceX, Rocket, Department of Government, Lab, Rocket Lab, New Zealand Locations: New Zealand, Long Beach , California

Spirit Airlines said Monday it has filed for Chapter 11 bankruptcy protection after struggling with losses, growing debt and a failed merger during the post-pandemic travel lull. The deal comes with a commitment of $350 million in equity investment from bondholders, which it said equates to $795 million of outstanding debt. The company's share price fell from £3.22 to $1.15 last week after the Wall Street Journal reported it was preparing to file for bankruptcy protection, closing on $1.07 on Friday. Spirit said last month it would cut jobs and sell 23 older planes in a bid to save $80 million. Industry analysts said at the time that the court's decision left Spirit with few options but to face a likely restructure and bankruptcy.

Persons: “, Ted Christie, Christie, Spirit Organizations: Spirit Airlines, Company, ”, Wall Street, U.S, JetBlue, Industry Locations: , Florida

☆ What travelers need to know about Spirit Airlines' bankruptcy
▼ + stars: | 2024-11-18 | by ( Leslie Josephs | ) www.cnbc.com time to read: +4 min

In this article SAVE Follow your favorite stocks CREATE FREE ACCOUNTA passenger waits for assistance at the Spirit Airlines check-in counter in the Austin-Bergstrom International Airport on November 13, 2024 in Austin, Texas. Brandon Bell | Getty ImagesSpirit Airlines has filed for Chapter 11 bankruptcy protection, becoming the first major U.S. passenger carrier to do so since American Airlines 13 years ago. Here's what travelers need to know:Why did Spirit file for bankruptcy? Spirit said Monday that it has reached a prearranged deal with the majority of its bondholders for a "streamlined" Chapter 11 bankruptcy protection plan. Rather, it gives the airline protection to reorganize its business, which often means shedding assets or parts of its operation.

Persons: Brandon Bell, Ted Christie, Spirit, —, Henry Harteveldt, Harteveldt Organizations: Spirit Airlines, Austin, Bergstrom International Airport, Getty, Airlines, U.S, American Airlines, Airbus, JetBlue Airways, Atmosphere Research, Spirit Locations: Austin , Texas

☆ Budget travel icon Spirit Airlines files for bankruptcy protection after mounting losses
▼ + stars: | 2024-11-18 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Passengers check in at the Spirit Airlines counter at the Fort Lauderdale-Hollywood International Airport on February 07, 2022 in Fort Lauderdale, Florida. Spirit Airlines , an icon of budget air travel that reshaped the industry, has filed for bankruptcy protection after years of mounting losses, a failed merger and more demanding consumer tastes. The airline said it expects to continue operating normally and said told customers can continue to book as the busy holiday season approaches. Spirit is the first major U.S. airline to file for Chapter 11 since American Airlines 13 years ago. Spirit filed for protection in U.S. Bankruptcy Court of the Southern District of New York.

Persons: Ted Christie, Spirit Organizations: Spirit Airlines, Fort, Hollywood International Airport, Fort Lauderdale , Florida . Spirit Airlines, U.S, American Airlines, JetBlue Airways, Bankruptcy, Southern, of, New York Stock Exchange Locations: Fort Lauderdale, Fort Lauderdale , Florida, , Florida, of New York

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