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☆ JetBlue shares tumble 10% after airline lowers 2024 revenue outlook
▼ + stars: | 2024-04-23 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

JetBlue Airways shares tumbled more than 10% in premarket trading Tuesday after the airline lowered its 2024 revenue forecast, a setback as it tries to return to profitability. The carrier said second-quarter revenue would likely drop as much as 10.5% on the year, more than double the decline analysts polled by LSEG expected. JetBlue has been on a cost-cutting spree, culling unprofitable routes, and focusing on those with steady demand and high sales for premium seats. JetBlue earlier this year said it would defer $2.5 billion in aircraft spending until the end of the year. Revenue dropped 5.1% from last year to $2.21 billion, matching LSEG revenue expectations.

Persons: LSEG, Joanna Geraghty, Pratt Organizations: JetBlue Airbus A321neo, AMS EHAM, JetBlue Airways, JetBlue, Spirit Airlines, Pratt & Whitney, Revenue Locations: Amsterdam, Netherlands, New York, Delta, America

☆ Is the US really close to banning TikTok? Yes? And, also: No.
▼ + stars: | 2024-04-22 | by ( Peter Kafka | ) www.businessinsider.com time to read: +4 min

A bill aimed at banning TikTok in the US could be signed into law as early as this week. AdvertisementThe US House of Representatives passed a so-called TikTok ban bill on Saturday. Combining all three things means the TikTok bill will likely be approved as part of the package deal. AdvertisementSo you're saying ByteDance really has a year to sell TikTok to a different owner? For reference: In May 2023, Montana lawmakers passed their own TikTok ban bill; in November of that year, a federal judge blocked the measure.

Persons: —, Will TikTok, Joe Biden, TikTok, Biden, there's, ByteDance, Steve Mnuchin, Trump, Mnuchin, doesn't Organizations: Service, US, Google, Apple Locations: TikTok's China, TikTok, Ukraine, Israel, Montana, China

States could, in theory, try to keep Mr. Trump off the ballot by passing legislation requiring a clean criminal record, but this would be on legally shaky ground. The California Supreme Court also unanimously blocked it as a violation of the state constitution, and the case never reached the U.S. Supreme Court. And the 14th Amendment is separate from criminal cases, meaning convictions would not disqualify Mr. Trump either. Now that Mr. Trump has secured a majority of delegates to the Republican convention, the party has no mechanism to nominate somebody else. Mr. Trump is registered to vote in Florida, and he would be disenfranchised there if convicted of a felony.

Persons: Donald J, Trump, Eugene V, Debs, Jessica Levinson, “, —, Anthony Michael Kreis, that’s, ”, Richard L, Kreis, — Ron DeSantis, Chris Taylor, Erwin Chemerinsky, “ It’s, Levinson, Biden, Mr, Chemerinsky, Nixon, Justice Department —, Trump Justice Department —, Jones, Bill Clinton, Charlie Savage Organizations: Republican, Democratic, Loyola Law School, California Supreme, U.S, Supreme, Colorado Supreme, Mr, Georgia State University, University of California, Florida, Offender, New, Justice Department, Trump Justice Department Locations: United States, New York, Georgia, California, Colorado, Los Angeles, Florida, Berkeley, Clinton

☆ Judge Blocks Trump’s Lawyers From Naming Witnesses in Documents Case
▼ + stars: | 2024-04-09 | by ( Alan Feuer | ) www.nytimes.com time to read: +1 min

In a 24-page ruling, the judge, Aileen M. Cannon, told Mr. Trump’s lawyers to refer to the witnesses in their filing with a pseudonym or a categorical description — say, John Smith or F.B.I. The special counsel, Jack Smith, had expressed a deep concern over witness safety, an issue that has touched on several of Mr. Trump’s criminal cases. Judge Cannon’s decision, reversing her initial ruling on the matter, was noteworthy, if only for the way it hewed to standard practice. After making a series of unorthodox rulings and allowing the case to become bogged down by a logjam of unresolved legal issues, the judge has come under intense scrutiny. Each of her decisions has been studied closely by legal experts for any indication of how she plans to proceed with other matters.

Persons: Donald J, Trump’s, Aileen M, Cannon, John Smith, Jack Smith, ”, Trump, “, Cannon’s Organizations: “ Trump

☆ JetBlue cuts routes spanning Los Angeles to Lima in race to lower costs
▼ + stars: | 2024-03-19 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

A JetBlue Airways plane prepares to take off from the Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Florida, on Jan. 31, 2024. The carrier will reduce its departures from Los Angeles International Airport from about 34 a day to 24, focusing on profitable transcontinental routes that include its Mint business class cabin, according to a memo to staff, which was seen by CNBC. Cuts include service from Los Angeles to San Francisco; Seattle; Miami; Las Vegas; Reno, Nevada; and Puerto Vallarta, Mexico. Along with transcontinental flying, JetBlue said it will focus on "bread and butter" routes along the East Coast, and those serving Caribbean vacation destinations. JetBlue is charting its path as a stand-alone airline after a judge blocked its plan to purchase Spirit Airlines in January.

Persons: Dave Jehn, Joanna Geraghty, Carl Icahn Organizations: JetBlue Airways, Fort, Hollywood International, Spirit Airlines, Pratt & Whitney, Airbus, Los Angeles International Airport, CNBC, JetBlue, American Airlines Locations: Fort Lauderdale, Fort Lauderdale , Florida, Los Angeles, San Francisco, Seattle, Miami, Las Vegas ; Reno , Nevada, Puerto Vallarta , Mexico, Bogota, Colombia, Quito, Ecuador, Lima, Peru, Kansas City , Missouri, Austin, Atlanta, Nashville, Salt Lake City, New York, Detroit, East Coast, Northeast

☆ Supreme Court allows a new Texas immigration law that gives police the power to arrest migrants
▼ + stars: | 2024-03-19 | by ( Lawrence Hurley | ) www.cnbc.com time to read: +2 min

The Supreme Court on Tuesday allowed Texas to enforce a contentious new law that gives local police the power to arrest migrants. The dispute is the latest clash between the Biden administration and Texas over immigration enforcement on the U.S.-Mexico border. Circuit Court of Appeals said in a brief order that it could go into effect March 10 if the Supreme Court declined to intervene. On March 4, Justice Samuel Alito issued a temporary freeze on the law to give the Supreme Court time to consider the federal government's request. Solicitor General Elizabeth Prelogar said in court papers that the Texas law is "flatly inconsistent" with Supreme Court precedent dating back 100 years.

Persons: Biden, Sonia Sotomayor, Samuel Alito, Elizabeth Prelogar Organizations: Border Patrol, Biden, Circuit, Appeals Locations: Venezuela, Rio, Eagle Pass , Texas, Texas, Mexico, New Orleans

☆ Steve Mnuchin breaks out the checkbook
▼ + stars: | 2024-03-15 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +7 min

Mnuchin rebornNine months after President Joe Biden was inaugurated and Mnuchin left the Treasury Building, Mnuchin formed a new private equity group, Liberty Strategic Capital. Steven Mnuchin's private equity firm made a $450 million investment in New York Community Bank last week. When Mnuchin left CIT less than two years later, he received a $10.9 million severance package. “It’s a great business and I’m going to put together a group to buy TikTok,” Mnuchin told visibly stunned anchors on CNBC Thursday morning. Mnuchin may be the founder and managing partner of Liberty Strategic Capital, but Saudi Arabia is reportedly covering a big chunk of his firm’s tab.

Persons: Donald Trump’s, Steven Mnuchin, Mnuchin, Joe Biden, Jackie ”, Trump, Goldman Sachs, ”, Liberty, Steven Mnuchin's, Spencer Platt, “ It’s, ” Mnuchin, “ You’re, ” Andrew Ross Sorkin, ” interjected, TikTok, “, he’s, Will Lanzoni, Crown Prince Mohammed bin Salman Organizations: New, New York CNN, Treasury, Liberty Strategic Capital, Lionsgate, New York Community Bank, Getty, Federal Deposit Insurance Corporation, CIT Group, CIT, CNBC, CNN, Senate, Liberty Strategic, Crown, New York Times, Saudi Public Investment Fund, Meta, ByteDance . Liberty Strategic Locations: New York, cybersecurity, New, California, China, Montana, Saudi Arabia, Saudi, ByteDance

☆ Former Treasury Secretary Steven Mnuchin is interested in buying TikTok
▼ + stars: | 2024-03-14 | by ( Elisabeth Buchwald | Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —Former Treasury Secretary Steven Mnuchin said Thursday he’s assembling a team of investors to make a bid to buy TikTok. “It’s a great business and I’m going to put together a group to buy TikTok,” Mnuchin told CNBC Thursday morning. Even though TikTok is likely unprofitable, “it’s worth a lot of money,” he added. Mnuchin, though, said he’s looking to find a solution where the Chinese government will allow TikTok to be sold without a technology transfer. Even if that happens, any kind of TikTok ban would likely be fought in courts.

Persons: Steven Mnuchin, “ It’s, ” Mnuchin, TikTok, Mnuchin, “, ”, TikTok didn’t, Dan Ives, ” Ives, Donald Trump’s, Trump, Marjorie Taylor Greene, Nancy Mace, didn’t, Thursday’s, Joe Biden, Ives Organizations: New, New York CNN, Former, CNBC, Wedbush Securities, CNN, Liberty Strategic Capital, Facebook, Meta, Community Bank, Senate, Microsoft, Oracle Locations: New York, China, Montana

☆ TikTok faces more heat in Washington, as House members introduce legislation demanding ByteDance divestiture
▼ + stars: | 2024-03-05 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +3 min

The bill says TikTok is controlled by a foreign adversary and poses a threat to U.S. national security. Earlier attempts to ban TikTok in the U.S. appear to have stalled, leaving some states like Montana to try and impose their own bans. The Pew Research Center released a survey in December showing that support for a U.S. government ban on TikTok is declining. The survey showed that 38% of U.S. adults support a TikTok ban as of October compared to 50% in March. WATCH: The Biden campaign joins TikTok, despite ban on app on government phones.

Persons: Mike Gallagher, Raja Krishnamoorthi, Gallagher, ByteDance, Shou Zi Chew, Joe Biden, Donald Trump, TikTok, Biden's, Z Organizations: Lawmakers, TikTok, U.S, Chinese Communist Party, Apple, Google, Pew Research Center, Biden Locations: U.S, TikTok, Washington ,, United States, Montana

☆ Jim Cramer says these 4 stocks are better AI plays than red-hot Super Micro Computer
▼ + stars: | 2024-03-04 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +2 min

Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Super Micro Computer : Shares surged nearly 25% on Monday after the artificial intelligence server maker was selected late Friday to join the S & P 500 later in March. The gains push its year-to-date ascent to almost 300% and its 12-month increase to nearly 1,050%, amid booming interest in stocks that benefit from AI adoption. "This is too much," Cramer said, referring to Super Micro's stock surge. Arm Holdings is another Nvidia-adjacent investment idea, Cramer said.

Persons: Jim Cramer's, Cramer, it's Dell, Marc Bitzer, Tony Spring Organizations: CNBC, Club, Nvidia, AMD, Design Systems, Holdings, Cramer's Charitable Trust, Whirlpool, Arkhouse Management, Brigade Capital Management, JetBlue Airways, Spirit Airlines, Airlines Locations: Cramer's

☆ Federal Judge Blocks Sweeping New Immigration Law in Texas
▼ + stars: | 2024-02-29 | by ( J. David Goodman | ) www.nytimes.com time to read: +1 min

A federal court in Austin on Thursday blocked the implementation of a Texas law that would allow state and local police officers to arrest migrants who cross from Mexico without authorization, siding with the federal government in a legal showdown over immigration enforcement. The ruling, by Judge David A. Ezra of the Western District of Texas, was a victory for the Biden administration, which had argued that the new state law violated federal statutes and the U.S. Constitution. The Texas law had been set to go into effect on March 5 but will now be put on hold as the case moves forward. In granting a preliminary injunction, Judge Ezra, who was appointed to the bench by President Ronald Reagan, signaled that the federal government was likely to eventually win on the merits. Greg Abbott, who has moved aggressively over the past three years to create a state-level system of border enforcement, was likely to appeal the decision.

Persons: Judge David A, Ezra, Biden, Ronald Reagan, Greg Abbott Organizations: Western, Western District of, U.S . Constitution Locations: Austin, Texas, Mexico, Western District, Western District of Texas, U.S .

☆ Federal judge blocks enforcement of controversial Texas immigration law
▼ + stars: | 2024-02-29 | by ( Andy Rose | ) edition.cnn.com time to read: +2 min

CNN —A federal judge in Austin, Texas, ordered the state government Thursday to suspend enforcement of a controversial law that would allow state law enforcement agents to arrest and detain people they suspect of entering the country illegally. “If allowed to procced, SB 4 could open the door to each state passing its own version of immigration laws,” Judge David Alan Ezra wrote, granting a preliminary injunction against the law. The judge rejected the state’s argument that the current influx of migrants across the southern border is an “invasion” that Texas has the right to stop unilaterally. The President of the United States has a constitutional duty to enforce federal laws protecting States, including laws already on the books that mandate the detention of illegal immigrants,” Abbott said in a statement. The American Civil Liberties Union, the ACLU of Texas, and the Texas Civil Rights Project argued that the controversial border law was unconstitutional because it preempts federal law and quickly sued after it was signed by Abbott.

Persons: David Alan Ezra, ” Ezra, Greg Abbott, ” Abbott, “, ”, Iliana Holguin, Abbott, CNN’s Priscilla Alvarez Organizations: CNN, “, CNN Texas Gov, U.S, El, American Civil Liberties Union, Texas Civil Rights, Abbott Locations: Austin , Texas, Texas, United States, El Paso County, Eagle, Biden’s, “ El Paso County, Abbott . Texas

So far, Idaho has been the only state to enact a so-called “ abortion trafficking ” law. Yet even as legal questions linger in the Idaho case, other states like Tennessee are moving forward with implementing their own versions. Photos You Should See View All 22 Images“This bill is simply a parental rights bill,” said Republican Rep. Jason Zachary, who is sponsoring the proposal. Tennessee law bans abortion throughout all stages of pregnancy but contains exemptions for very narrow instances for saving the life of a mother. On the eastern side of the state, a clinic has relocated to Virginia after operating along the Tennessee border for years.

Persons: Roe, Wade, ”, Jason Zachary, Zachary, John Ray Clemmons, Bill Lee Organizations: GOP, Supreme, Republican, quizzed, Democratic, Republican Gov, Centers for Disease Control, Guttmacher Institute Locations: Tenn, Tennessee, U.S, Idaho, Missouri, Oklahoma, Memphis, Nashville, Carbondale , Illinois, Virginia

☆ Federal judge blocks Ohio law regulating kids’ access to social media
▼ + stars: | 2024-02-13 | by ( Brian Fung | ) edition.cnn.com time to read: +1 min

Washington CNN —A federal judge has temporarily blocked an Ohio law seeking to regulate kids’ access to social media platforms, saying that the law is likely unconstitutional. Monday’s order by District Judge Algenon Marbley reiterates what Marbley said last month when he issued an emergency order halting the Ohio law from going into effect. Ohio’s legislation would have required social media platforms to obtain parental consent before creating accounts for children under age 16. It’s the latest blow to states that have vowed a crackdown on social media in the face of mounting claims that the technology contributes to mental health harms. And it highlights the many legal hurdles facing calls to ban social media for young Americans.

Persons: Algenon Marbley, Marbley, “, ” Marbley Organizations: Washington CNN, US, Court, Southern, Southern District of, NetChoice Locations: Ohio, Southern District, Southern District of Ohio, Arkansas , California, Utah

☆ JetBlue resets with new CEO, industry veterans to run airline on time, and profitably
▼ + stars: | 2024-02-12 | by ( Leslie Josephs | ) www.cnbc.com time to read: +6 min

In this article JBLU Follow your favorite stocks CREATE FREE ACCOUNTA JetBlue Airways plane prepares to depart New York's LaGuardia Airport. Leslie Josephs | CNBCIn the 24 years since JetBlue Airways ' first flight, the New York-based airline has pushed the envelope for a carrier of its size. And, until a judge blocked the deal last month, it planned to buy budget airline Spirit Airlines for $3.8 billion. Last week, JetBlue said it has hired back the airline's former chief commercial officer, Marty St. George, 59, as president. A JetBlue Airways plane sits on the tarmac at the Fort Lauderdale-Hollywood International Airport on January 31, 2024 in Fort Lauderdale, Florida.

Persons: Leslie Josephs, it's, Joanna Geraghty, Robin Hayes, Carl Icahn, Geraghty, Chris Ratcliffe, we've, Marty St, George, Marty, Henry Harteveldt, George's, Warren Christie, JetBlue, We've, Brett Snyder, Snyder, Spirit, Joe Raedle Organizations: JetBlue Airways, New, LaGuardia, CNBC, JetBlue, Spirit Airlines, JetBlue Airways Corp, World Aviation, Bloomberg, Getty, Latam Airlines, United Airlines, US Airways, Atmosphere Research, Transport Workers Union Local, Street, NYSE, Department of Transportation, discounter Frontier Airlines, Fort, Hollywood International Airport Locations: New York, London, Paris, Amsterdam, Dublin, U.S, Delta, United, punctuality, Fort Lauderdale, Fort Lauderdale , Florida

☆ Spirit Airlines narrows loss to $184 million, says it's on the path back to profitability
▼ + stars: | 2024-02-08 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

Spirit Airlines ' fourth-quarter loss narrowed to nearly $184 million, but its CEO said the carrier is on a path back to profitability and that the domestic air travel market is improving. Spirit still expects to lose money in the first quarter, however, and said it expects revenue of between $1.25 billion and $1.28 billion, above analysts' forecasts. The carrier plans for 2024 capacity to be flat to up mid-single digits compared with last year, and up 1.5% in the first quarter, Spirit said. Spirit said it expects to have an average of 25 Airbus aircraft grounded this year because of the Pratt & Whitney engine issues. Spirit said expects to have 215 airplanes in its fleet by the end of the year.

Persons: Ted Christie, Spirit Organizations: Airlines, Pratt & Whitney, Airbus, JetBlue Airways, LSEG, Revenue, Company Locations: Miramar , Florida

☆ Elon Musk suggests Tesla could leave Delaware after a judge blocked his $55 billion pay deal
▼ + stars: | 2024-01-31 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

Elon Musk has lashed out at the state of Delaware. Musk posted a poll asking X users whether Tesla should change its state of incorporation to Texas. On Tuesday, a Delaware judge ruled against his $55 billion Tesla compensation package. The Tesla CEO lashed out after a Delaware judge ruled against his $55 billion compensation package on Tuesday. Judge Kathleen St. J. McCormick sided with a lawsuit from a Tesla shareholder that argued Musk's pay plan was excessive.

Persons: Elon, Musk, Tesla, —, Kathleen St, J, McCormick, Musk's Organizations: Service, Business Locations: Delaware, Texas

☆ JetBlue Says It May Back Out of Deal to Acquire Spirit Airlines
▼ + stars: | 2024-01-26 | by ( J. Edward Moreno | More About J. Edward Moreno | ) www.nytimes.com time to read: +1 min

JetBlue Airways said on Friday that it might back out of a $3.8 billion acquisition of Spirit Airlines after a federal judge blocked the deal. The announcement comes just a week after JetBlue and Spirit had said they would appeal the decision, which was made in an antitrust case brought by the Justice Department. In a regulatory filing on Friday, JetBlue said that the deal could be terminated after Sunday if certain conditions weren’t met. Spirit said in its own filing that it disagreed with JetBlue’s contention and believed “there is no basis for terminating” the deal. A federal judge in Boston blocked the proposed merger on Jan. 16, ruling that Spirit plays an important role in keeping airline fares low and that a takeover by JetBlue would hurt travelers.

Persons: weren’t, Spirit, Biden Organizations: JetBlue Airways, Spirit Airlines, JetBlue, Spirit, Justice Department Locations: Boston

NEW YORK (AP) — JetBlue Airways warned that it may end its bid to acquire low-cost carrier Spirit Airlines as soon as this weekend after a federal judge blocked the deal, sending Spirit shares sharply lower Friday. “Spirit believes there is no basis for terminating the Merger Agreement," Spirit wrote. Both JetBlue and Spirit have struggled financially and have been slower than some other airlines to recover from the pandemic. Since the start of 2020, JetBlue has lost $2.1 billion, and Spirit has lost $1.7 billion. Spirit tried to merge with Frontier Airlines, another low-cost carrier, in early 2022, but JetBlue won a bidding war to push Frontier aside.

Persons: JetBlue's, “, Spirit Organizations: — JetBlue Airways, Spirit Airlines, JetBlue, Justice Department, Justice, Spirit Airlines Inc, JetBlue Airways Corp, Spirit, Airbus, Pratt & Whitney, Frontier Airlines Locations: Miramar , Florida, New York, U.S, Delta, United

☆ Airline stocks rise as United kicks off busy earnings week
▼ + stars: | 2024-01-23 | by ( Ryan Anastasio | ) www.cnbc.com time to read: +1 min

Boeing 787-10 Dreamliner, from United Airlines company, taking off from Barcelona airport, in Barcelona on 28th March 2023. United Airlines shares rose about 4% Tuesday after the company reported higher-than-expected earnings and revenue for the fourth quarter. The report kicks off a busy week of airline earnings reports, with quarterly updates from American , Southwest and Alaska all due out on Thursday. Shares of Delta, which reported fourth-quarter earnings earlier this month, were up about 2%. United shares are about flat this year but are down about 30% from its 52-week high of $58.23 recorded in July 2023.

Persons: Scott Kirby, Kirby, CNBC's Phil LeBeau Organizations: Boeing, United Airlines, Max, CNBC, Spirit Airlines, JetBlue Locations: Barcelona, Southwest, Alaska

Over 100,000 people have used such “same-day registration” in North Carolina during each of the last two presidential election years, so slight adjustments in the closely divided state could make a difference in this November's elections for president, governor and other statewide positions. Early in-person voting — and thus same-day registration — for the March 5 primaries begins Feb. 15. Giving people only one chance to verify by mail would be a “substantial burden on same-day registrants who cast a ballot,” Schroeder said. Schroeder acknowledged there are legitimate interests in using address verification to promote preserving the integrity of the election process and instilling voter confidence. But he wrote the plaintiffs have shown the “precise interests asserted in this case likely do not outweigh the substantial burden on the rights of same-day registrants who cast a ballot.”In 2020, about 2,150 same-day registration applicants in North Carolina failed the address verification.

Persons: District Judge Thomas Schroeder, Roy Cooper's, Schroeder, George W, Bush, ” Schroeder, Tim Moore, Grey Mills, “, mailer, ” Organizations: —, North, District, Republican, Assembly, Democratic Gov, Democratic, . Postal Service, Grey, State Board, Democratic National Committee, Democratic Party Locations: RALEIGH, N.C, North Carolina, U.S

☆ Judge Blocks Republican-Backed North Carolina Provision on Same-Day Voter Registration
▼ + stars: | 2024-01-22 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +2 min

The legislation was among new Republican-backed restrictions across the country following the 2020 presidential election, when then-President Donald Trump falsely attributed his loss to fraud. North Carolina is expected to be a closely contested state in this year's presidential contest. Under the new law, a voter who uses same-day registration is sent a postcard to confirm their address. Young voters and minority voters, both groups that tend to vote Democratic, take advantage of same-day registration more frequently. Between 100,000 and 120,000 residents use same-day registration in presidential years, according to the state elections board.

Persons: Joseph Ax, Roy Cooper's, Donald Trump, Trump, Joe Biden, District Judge Thomas Schroeder, Tim Moore, Jonathan Oatis Organizations: Democratic Party, Republican, Democratic, Young, District, State Board Locations: Carolina, North Carolina

☆ Stocks making the biggest moves premarket: Spirit Airlines, Nvidia, Wayfair and more
▼ + stars: | 2024-01-19 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

This is Wayfair's third restructuring since 2022 and is expected to save the company about $280 million. Hertz — Hertz shed 2.8% on a Jefferies price target cut and downgrade to hold from buy. AMD added 1.6%, after reaching its highest-ever closing price on Thursday amid increased investor interest in the second-largest standalone GPU maker. DraftKings — Shares of the sports betting company rose more than 1% after Stifel upgraded DraftKings to buy from hold. J.B. Hunt Transport Services – Shares rose more than 3% after the company posted mixed quarterly results.

Persons: Hertz, Wells, Stifel, J.B, J.B . Hunt, Macheel, Samantha Subin, Jesse Pound Organizations: Jefferies, EV, Spirit Airlines, JetBlue, Texas, UBS, Nvidia, AMD, ESPN Bet, Hunt Transport, LSEG

☆ Spirit Airlines Is on Shaky Footing After Judge Blocks JetBlue Deal
▼ + stars: | 2024-01-19 | by ( J. Edward Moreno | ) www.nytimes.com time to read: 1 min

Spirit Airlines, once a fast-growing low-cost carrier, is struggling to convince investors that it has a clear path forward after an antitrust ruling blocked the sale of the company to JetBlue Airways. A federal judge in Boston blocked the proposed merger on Tuesday, concurring with the Justice Department that the deal would hurt consumers by reducing their choices and raising fares. Before it struck a deal with JetBlue in July 2022, Spirit was struggling. Unlike larger airlines, it never fully recovered from the early days of the pandemic in 2020. Some airline experts say the carrier might have to file for bankruptcy protection.

Persons: Spirit Organizations: Airlines, JetBlue Airways, Justice Department, JetBlue Locations: Boston

TOKYO (AP) — Asian shares traded mixed Thursday as pessimism spread among investors about any imminent interest rate cut in the United States. Wall Street slipped following another signal that it may have gotten too optimistic about when the Federal Reserve will deliver the cuts to interest rates. Yields climbed after a report showed sales at U.S. retailers were stronger in December than economists expected. Higher yields can crimp profits for companies, while also making investors less willing to pay high prices for stocks. Higher yields hurt all kinds of investments, and high-growth stocks tend to be some of the hardest hit.

Persons: Australia's, Korea's Kospi, Seng, Brent, Stan Choe, Yuri Kageyama Organizations: TOKYO, Nikkei, Shanghai, Federal Reserve, Dow Jones, Nasdaq, U.S, Treasury, Amazon, Fed, Traders, CME Group, European Central Bank, U.S . Bancorp, Sporting Goods, Spirit Airlines, JetBlue Airways, JetBlue, U.S ., AP Locations: United States, Hong, U.S, New York

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