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☆ Stock futures slip after fresh Dow record, Wall Street looks to inflation data: Live updates
▼ + stars: | 2024-02-12 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading on January 26, 2023 in New York City. Stock futures were marginally lower on Tuesday morning as investors prepared for a key inflation report. Futures tied to the Dow Jones Industrial Average lost 38 points or 0.1%. S&P 500 futures slipped 0.18%, while Nasdaq 100 futures dropped 0.21%. In regular trading, the 30-stock Dow closed at a fresh record.

Persons: Carl Icahn, Dow, Chris Verrone, Dow Jones Organizations: New York Stock Exchange, Stock, Dow Jones Industrial, Nasdaq, Avis Budget, JetBlue Airways, Federal Reserve, Hasbro, Marriott International, MGM Resorts Locations: New York City

☆ Stocks making the biggest moves after hours: JetBlue Airways, Avis Budget Group, Arista Networks and more
▼ + stars: | 2024-02-12 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Avis Budget Group — Shares slipped about 1% after the rental car company's fourth-quarter revenue of $2.76 billion in the fourth quarter missed estimates. Analysts polled by LSEG, formerly known as Refinitiv, forecast $2.81 billion. Analysts polled by LSEG called for earnings of 25 cents a share and revenue of $311 million. Analysts polled by FactSet expected $1.37 per share and revenue of $1.09 billion. The company reported revenue of $171 million while analysts polled by LSEG forecast $176 million.

Persons: Carl Icahn, ZoomInfo, LSEG, FactSet, Lattice, Tripadvisor Organizations: Avis Budget, LSEG, JetBlue Airways, JetBlue, Cadence, Systems, Nvidia, Arista Networks, Lattice Semiconductor

☆ JetBlue shares jump 15% as activist Carl Icahn reports stake and calls shares undervalued
▼ + stars: | 2024-02-12 | by ( Sara Salinas | In Saracsalinas | ) www.cnbc.com time to read: +2 min

Activist investor Carl Icahn on Monday reported a nearly 10% stake in JetBlue Airways , saying the airline stock is undervalued. Shares of JetBlue spiked more than 15% in extended trading. Icahn amassed the stake in a series of purchases in January and February, according to regulatory filings. He has had plans to continue discussions with the company "regarding the possibility of board representation," the records said. JetBlue has been cutting costs and working to improve operations in an effort to return to profitability after a post-Covid travel surge and a blocked merger with budget carrier Spirit Airlines.

Persons: Carl Icahn, Icahn, Joanna Geraghty, —, John Melloy, Leslie Josephs Organizations: JetBlue Airways, JetBlue, Icahn, TWA, Spirit Airlines, NYSE Arca, CNBC PRO

☆ 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

Hawaiian Airlines is rolling out complimentary Wi-Fi via SpaceX's Starlink on board commercial flights this week, the companies told CNBC, the first major U.S. airline to offer the satellite-based service. Hawaiian's plan for complimentary Wi-Fi comes as airlines ramp up their offerings for high-speed connectivity. "It really feels like an experience that should not be possible when you get on a commercial airline flight. Hawaiian signed an agreement with SpaceX in April 2022, looking to utilize the Starlink network – which consists of more than 5,000 satellites in low Earth orbit and boasts more than 2.3 million customers worldwide. The airline didn't previously offer inflight Wi-Fi.

Persons: Peter Ingram, Chad Gibbs, Gibbs Organizations: CNBC, U.S, SpaceX, Hawaiian Airlines, JetBlue Airways, Delta Air Lines, didn't Locations: U.S, Japan, Australia, New Zealand, Hawaii

☆ Stocks making the biggest moves premarket: UPS, General Motors, Whirlpool, Spotify and more
▼ + stars: | 2024-01-30 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Pfizer reported adjusted earnings of 10 cents per share, while analysts polled by LSEG expected a loss of 22 cents per share. On the other hand, the company's $14.25 billion revenue was lower than the $14.42 billion consensus estimate. Revenue came in at $24.92 billion versus the $25.43 billion expected from analysts polled by LSEG. F5 — Shares jumped 8% after the cybersecurity company reported an earnings and revenue beat in the fiscal first quarter. The manufacturing services provider reported earnings of $1.30 per share, better than the $1.15 earnings per share forecast from analysts polled by FactSet.

Persons: Batya Levi, Pfizer, LSEG, Jefferies, Sanmina, — CNBC's Michelle Fox, Hakyung Kim, Tanaya Macheel, Sarah Min, Jesse Pound Organizations: UBS, Pfizer, Oppenheimer, United Parcel Service, LSEG, General Motors, GM, JetBlue Airways —, Whirlpool —, FactSet Locations: Masimo, FactSet .

☆ JetBlue swings to a loss, forecasts lower capacity in 2024
▼ + stars: | 2024-01-30 | by ( Leslie Josephs | ) www.cnbc.com time to read: 1 min

JetBlue planes at JFK's Terminal 5 in New York. JetBlue Airways swung to a loss in the fourth quarter and forecast lower capacity this year as it scrambles to return to profitability. The New York-based airline reported a net loss of $104 million in the last three months of 2023, compared with a $24 million profit a year earlier. On a per share basis, JetBlue lost 31 cents during the fourth quarter, compared with a 7-cent profit during the year-earlier period. JetBlue said it expects 2024 capacity to be down in the low single digits and that its adjusted margins could approach breakeven.

Organizations: JetBlue, JetBlue Airways Locations: New York

☆ Stocks making the biggest moves midday: Bank of America, General Motors, UPS and more
▼ + stars: | 2024-01-30 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

The company reported adjusted earnings of $1.24 per share on $42.98 billion in revenue for the fourth quarter of 2023. While the company's operating income also beat analysts' estimates, it declined on a year-over-year basis. On Monday, Sanmina reported adjusted earnings of $1.30 per share, more than analysts' estimates for earnings of $1.15 per share, according to FactSet. Smith issued full-year guidance, with the lower end of its forecast coming in below analysts' estimates, per FactSet. The company anticipates adjusted earnings for 2024 of $3.90 to $4.15 per share, while analysts called for $4.05 per share.

Persons: Morgan Stanley, FactSet, Sanmina, MSCI, Nucor, LSEG, Smith, —, Alex Harring, Hakyung Kim, Tanaya Macheel, Jesse Pound, Samantha Subin Organizations: General Motors, United Parcel Service, UPS, LSEG, Wall Street . Bank of America, Citigroup, Bank of America, JetBlue Airways —, JetBlue, Petroleum, Marathon Petroleum, Whirlpool, Corning — Corning, FactSet, Management, Computer Locations: FactSet, Corning, U.S

☆ This week will make it clearer if the Fed will cut interest rates in March
▼ + stars: | 2024-01-28 | by ( Bryan Mena | ) edition.cnn.com time to read: +11 min

Washington, DC CNN —A slew of economic news this week will make it much clearer if the Federal Reserve will cut interest rates in March. The Labor Department is due to release four crucial assessments of America’s job market, gauging labor demand, wage growth, productivity and hiring. Wages and the Fed on Wednesday: The day after, the Labor Department releases its Employment Cost Index for the fourth quarter, a comprehensive measure of employers’ labor costs. The US Labor Department releases December data on job openings, quits, hires and layoffs. The US Labor Department releases its Employment Cost Index for the fourth quarter.

Persons: that’s, ”, Christian Scherrmann, Jerome Powell, ” Michael Feroli, “, ” Feroli, Powell, Alicia Wallace, Joe Brusuelas, Jerome Powell’s Organizations: CNN Business, Bell, DC CNN, Federal Reserve, Labor Department, DWS, Labor, Survey, Fed, Employers, PCE, Federal, Commerce Department, RSM, Whirlpool, Microsoft, UBS, HCA Healthcare, General Motors, Cleveland Cliffs, Mondelez International, JetBlue Airways, Global, US Labor Department, Board, National Bureau of Statistics, Novo Nordisk, Mastercard, Novartis, Boeing, ADP, Nasdaq, Nomura Holdings, Apple, Shell, Honeywell, Deutsche Bank, Clorox, Quest Diagnostics, United States Steel, Bank of England, P Global, Institute for Supply Management, Exxon Mobil, AbbVie, Regeneron Pharmaceuticals, University of Michigan Locations: Washington, Marathon, Cleveland, Chevron

☆ 10 of our stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-01-27 | by ( Zev Fima | ) www.cnbc.com time to read: +16 min

All three major averages posted gains for the third consecutive week, lifted by solid quarterly earnings and positive economic data. Earnings season ramps up next week, with five of the Super Six mega-cap stocks delivering results. Employment numbers are the most important economic data, with Friday's January nonfarm payrolls report carrying the most weight. The January ISM Manufacturing report on Thursday and December's factory orders report Friday are expected to show the sector still in contraction mode. But earnings and commentary this week from peer Sartorious made us encouraged about a return to growth in 2024.

Persons: nonfarm, December's, Sartorious, We've, Stanley Black, Decker, We're, We'd, Royal Philips, Crane, Woodward, ServisFirst, Cadence Bancorporation, CADE, Johnson, Phillips, Avery Dennison, Columbus McKinnon, Robinson, SIRI, Cardinal Health, Parker, DOV, Pitney Bowes, Ferrari N.V, CSW, COLM, W.W, Grainger, Dwight Co, Jim Cramer's, Jim Cramer, Jim, Tim Cook, Justin Sullivan Organizations: Gross, Procter, Gamble, Gillette, Super, Consumer, JPM Healthcare, Amazon, Microsoft, Honeywell, Aerospace, Solutions, Apple Watch, Masimo, Vision Pro, Franklin Resources, Resource Partners, Bank of Marin Bancorp, Bank7 Corp, Pacific Premier Bancorp Inc, Provident Financial Holdings, Dynex, Cliffs Inc, Nucor Corp, Whirlpool Corp, F5 Networks, Capital Southwest Corp, Harbors Investment Corp, Crane Co, Payne, Equity, Heartland Financial, Cadence, FinWise Bancorp, Five Star Bancorp, PotlatchDeltic Corporation, Sanmina Corporation, Pfizer, General Motors Corp, United Parcel Service, JetBlue Airways Corporation, Smith Corp, Marathon Petroleum Corp, HCA Healthcare, Oshkosh Corporation, SYSCO Corp, Danaher Corp, Johnson Controls, M.D.C . Holdings, Commvault Systems Inc, Hope Bancorp, Hubbell Incorporated, Malibu Boats, Polaris Industries, Inc, Camden National Corp, Cambridge Bancorp, Microsoft Corp, Starbucks Corp, Devices, Electronic Arts Inc, Juniper Networks, Stryker Corp, Lending, Canadian, Canadian Pacific Kansas City Limited, Mondelez, Chubb Corporation, Modine Manufacturing, Partners, Management, Hawaiian Holdings, Manhattan Associates, Unum Group, UNM, Axos, Enova, Boston Properties, Boeing Co, Novo Nordisk, Mastercard Inc, Roper Technologies, Boston Scientific Corporation, MarketAxess Holdings, Fisher, Aptiv PLC, Hess Corp, Nasdaq, United Microelectronics Corp, Rockwell Automation, Teva Pharmaceutical Industries, Ltd, Avery, Avery Dennison Corp, Extreme Networks, Otis Worldwide Corporation, OTIS, Columbus, Columbus McKinnon Corp, Central Pacific Financial Corp, Brinker International, Fortive Corporation, Qualcomm, Technology, Metlife, Hanover Insurance, Barn Holdings, CONMED Corporation, DLH Holdings Corp, Meritage Homes Corporation, Honeywell International, Eaton Corp, Altria, Royal Caribbean Cruises Ltd, Merck, Co, Enterprise Products Partners, Dorian LPG, SiriusXM Holdings, Cardinal, Hannifin Corporation, Allegheny Technologies Incorporated, Tractor Supply Company, Trane Technologies, Dover Corp, Huntington Ingalls Industries, Brunswick Corporation, Dickinson, Canada Goose Holdings, Kirby Corp, WEC Energy Group, WestRock Company, Allegro MicroSystems, Ball Corporation, Broadridge Financial, BrightSphere Investment Group, CMS Energy Corp, Lancaster Colony Corp, Rogers Communications Inc, Sanofi, Apple, Atlassian Corporation, United States Steel Corp, Corp, Adtalem Global, Homes, DXC Technology Company, Eastman Chemical Company, Gen, Post Holdings, America, Columbia Sportswear Company, Exxon Mobil Corp, Chevron Corporation, Myers Squibb Co, CIGNA Corp, Regeneron Pharmaceuticals, Charter Communications, AON, Cboe, Dwight, Banco Santander, Jim Cramer's Charitable, CNBC, Apple Vision, Getty Locations: China, East, United States, Europe, Cleveland, Alexandria, California, Corning, Canadian Pacific, Teradyne, TER, Novo, Hanover, PBI, Skechers U.S.A, Bristol, Chile

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

☆ 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

☆ The best and worst airlines in the US for 2023, according to the WSJ
▼ + stars: | 2024-01-24 | by ( Taylor Rains | ) www.businessinsider.com time to read: +9 min

American and United sat in the middle of the group, mostly losing points for cancelations, tarmac delays, and baggage mishaps. AdvertisementHere's a closer look at the best and worst airlines in the US for 2023 — and how they ranked in each category in the WSJ rankings:9. JetBlue AirwaysJetBlue Airways ranked dead last in the WSJ's annual list of best and worst US airlines for 2023. AaronP/Bauer-Griffin/GC Images via Getty Images2022 Rank: 1Delta is the best airline in the US for 2023, according to The Wall Street Journal's ranking. It was second for extreme delays, fourth for tarmac delays and mishandled baggage, and fifth for flight cancelations — its lowest finish overall.

Persons: —, Delta, Allegiant, Andrew Watterson, United, Marcus Mainka, Tayfun, Mario Tama, Nicolas Economou, Robert Alexander, Tom Williams, Bauer, Griffin Organizations: Delta Air Lines, Alaska Airlines, JetBlue Airways, Service, Delta, Allegiant, Department of Transportation, — United Airlines, American Airlines, Max, Southwest Airlines, Journal ., Spirit Airlines, Frontier Airlines, Jetblue, JetBlue, Airlines, JetBlue Airways JetBlue Airways, Anadolu Agency, Getty, cancelations, Spirit Airlines Spirit Airlines, United Airlines United, American Airlines American Airlines, Southwest Airlines Southwest Airlines, Southwest, Delta Air Lines Delta Air Lines Locations: West Coast, Seattle, Alaska, New York City, New York, Southwest

☆ CNBC Daily Open: Make way for the bull market?
▼ + stars: | 2024-01-22 | by ( Clement Tan | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. All-time highThe S&P 500 closed at an all-time high on Friday, rising 1.23% to close at 4,839.81, setting fresh record intraday and closing highs from January 2022. [PRO] Earnings seasonTesla, Netflix, Intel and Alaska Air are among nearly 70 S&P 500 companies that are scheduled to report earnings this week. Just 69% of the roughly 52 S&P 500 companies that have reported, according to FactSet, have surpassed expectations.

Persons: Ron DeSantis, Donald Trump, Arnold Organizations: New York Stock Exchange, CNBC, Dow Jones, Nasdaq, Federal Reserve, Commerce Department, Florida Gov, Republican New, JetBlue Airways, Spirit Airlines, Arnold Palmer Regional Airport, Netflix, Intel, Alaska Air Locations: Florida, Republican New Hampshire, Pittsburgh

☆ Stocks making the biggest moves premarket: Macy's, Boeing, Archer-Daniels-Midland and more
▼ + stars: | 2024-01-22 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Macy's – Shares of the department store giant added 2% in premarket trading after the company over the weekend rejected a $5.8 billion proposal by Arkhouse Management and partner Brigade Capital Management to take the retailer private. Boeing — The airline stock slid 1.8% after the U.S. Federal Aviation Administration recommended operators visually inspect the mid-exit door plugs of Boeing 737-900ER aircraft, which are similar to the ones grounded after the Alaska Airlines flight emergency. Archer-Daniels-Midland – Shares slid nearly 12% after the food processor placed CFO Vikram Luthar on administrative leave amid an investigation into some accounting practices and issued fourth-quarter earnings guidance that fell below prior expectations. Spirit Airlines , JetBlue Airways — The airlines said Friday that they plan to appeal a federal judge's ruling that blocks their planed merger. Spirit Airlines added about 1% before the bell, while JetBlue Airways slipped 0.8%.

Persons: Macy's, Vikram Luthar, Goldman Sachs, Riley, Morgan Stanley, Oppenheimer, —, — CNBC's Pia Singh, Sarah Min, Tanaya Macheel, Lisa Kailai Han Organizations: Arkhouse Management, Brigade Capital Management, Boeing, U.S . Federal Aviation Administration, Alaska Airlines, Daniels, Midland, Bloomberg, U.S . Securities, Exchange Commission, Spirit Airlines, JetBlue Airways Locations: Brazil

☆ Stocks making the biggest moves midday: Vita Coco, Archer-Daniels-Midland, Gilead Sciences and more
▼ + stars: | 2024-01-22 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Archer-Daniels-Midland — The food processor's shares dropped more than 22%, making the stock poised for its second worst day in its history back to 1972. Archer-Daniels-Midland announced weak fourth-quarter earnings guidance and placed Chief Financial Officer Vikram Luthar on administrative leave amid an investigation into the company's accounting practices. StoneCo — Shares of the Brazilian payments company rose more than 6% following an upgrade to a buy rating from Goldman Sachs. The financial firm cited an attractive entry point and a constructive outlook on the next freight cycle as catalysts for the change. Vita Coco — The coconut water company tumbled more than 5% after William Blair downgraded shares to market perform from outperform.

Persons: Archer, Vikram Luthar, Goldman Sachs, Trodelvy, Bernstein, Hunt, Gus Richard, Coco, William Blair, — CNBC's Michelle Fox, Alexander Harring, Hakyung Kim, Tanaya Macheel, Pia Singh, Samantha Subin Organizations: Arkhouse Management, Brigade Capital Management, Daniels, Midland, SolarEdge Technologies, Riley, Bloomberg, U.S . Securities, Exchange Commission, Spirit Airlines, JetBlue Airways —, JetBlue, Gilead Sciences, . Union Pacific, Norfolk Southern, UBS, Northland Capital Markets Locations: Brazil, Norfolk, Suez

☆ How Spirit Airlines' uncertain future could add cost and stress to travel across America
▼ + stars: | 2024-01-21 | by ( Kevin Williams | ) www.cnbc.com time to read: +3 min

Spirit Airlines airplanes at Fort Lauderdale-Hollywood International Airport (FLL) in Fort Lauderdale, Florida, US, on Tuesday, Oct. 24, 2023. Spirit Airlines Inc. is scheduled to release earnings figures on October 26. Photographer: Eva Marie Uzcategui/Bloomberg via Getty ImagesA federal judge's order blocking a $3.8 billion-dollar deal that would have JetBlue Airways purchase rival Spirit Airlines leaves Spirit with an uncertain future. Few places will feel the impact harder than the Arnold Palmer Regional Airport (LBE) if Spirit can't keep flying. The Arnold Palmer Regional Airport has almost all the amenities of any major airport, just on a smaller scale.

Persons: Eva Marie Uzcategui, Arnold, Arnold Palmer, DeNuzio's, Gabe Monzo, Monzo, Jase Ramsey, Ramsey Organizations: Spirit Airlines, Hollywood International, Spirit Airlines Inc, Bloomberg, Getty, JetBlue Airways, Arnold Palmer Regional, TSA, Pennsylvania Department of Transportation, Florida Gulf Coast University, Southwest, Southwest Florida International Locations: Fort Lauderdale, Fort Lauderdale , Florida, Pittsburgh, Latrobe , Pennsylvania, LBE, Orlando, Myrtle Beach, Florida, Fort Myers, Southwest Florida, South Florida

☆ Spirit Airlines jumps 30% after raising fourth-quarter forecast
▼ + stars: | 2024-01-19 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Spirit Airlines on Friday raised its financial forecast for the fourth quarter of 2023, sending shares soaring more than 30% after a rout earlier this week that followed a judge's ruling that blocks JetBlue Airways from buying the budget carrier. Spirit said in a filing that it expects revenue to come in at about $1.3 billion, at the high end of its earlier forecast, thanks to strong bookings at the end of the year. The airline said in the filing that it had $1.3 billion of liquidity at the end of 2023. Spirit said Friday it expects compensation from Pratt & Whitney, a unit of RTX, in connection with that engine issue. Spirit plans to hold a quarterly call with analysts on Feb. 8 to discuss results and its outlook.

Persons: Spirit, Pratt Organizations: Airlines, JetBlue Airways, Pratt & Whitney, Airbus, Company

☆ JetBlue to cut some routes as it pushes for profitability
▼ + stars: | 2024-01-19 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

JetBlue Airways told staff this week that it will cut some routes and service as it struggles to return to profitability and grapples with the fallout of its blocked plan to buy Spirit Airlines . The airline is instead focusing on leisure routes, adding service throughout the Caribbean and to Paris, the memo said. "We constantly adjust our network to support our strategy and these recent changes are a necessary quick step to help return our business to profitability," JetBlue said. "All the routes included have recently underperformed our expectations and these changes come as post-COVID travel patterns continue to evolve." JetBlue ranked 9th in on-time arrivals among U.S. airlines in the first 10 months of 2023, according to the Transportation Department.

Persons: John F, Dave Jehn, Jehn, William Young's Organizations: JetBlue Airways, Spirit Airlines, JetBlue, Kennedy, CNBC, Washington International Thurgood Marshall Airport, Washington D.C, Transportation Department, CNBC PRO Locations: New, Portland , Oregon, San Jose , California, Westchester , New York, New York, Ponce , Puerto Rico, Milwaukee , Wisconsin, Caribbean, Paris, Baltimore, Washington

☆ Why the JetBlue-Spirit antitrust ruling doesn't spell doom for an Alaska-Hawaiian merger
▼ + stars: | 2024-01-19 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Alaska and Hawaiian Airlines planes takeoff at the same time from San Francisco International Airport (SFO) in San Francisco, California, United States on June 21, 2023. President Joe Biden's Justice Department has successfully had two airline link-ups halted in court in recent months. That doesn't necessarily spell doom for Alaska Air's plan to buy Hawaiian Airlines . The decision immediately sparked questions of whether an Alaska-Hawaiian combination would suffer a similar fate in an antitrust lawsuit. The Justice Department didn't immediately respond to a request for comment about whether it plans to challenge Alaska and Hawaiian's proposed deal.

Persons: Joe Biden's, William Young, Michael Linenberg, Department didn't, Hawaiian's, Herbert Hovenkamp Organizations: Hawaiian Airlines, San Francisco International Airport, Department, Hawaiian Airlines . U.S, Justice Department, JetBlue Airways, Spirit Airlines, Deutsche Bank, JetBlue, University of Pennsylvania's Carey Law School, Spirit Locations: Alaska, San Francisco , California, United States, Hawaiian Airlines ., Hawaii

☆ JetBlue and Spirit appeal judge's ruling that blocks their proposed merger
▼ + stars: | 2024-01-19 | by ( Leslie Josephs | ) www.cnbc.com time to read: 1 min

Spirit and JetBlue planes at Fort Lauderdale-Hollywood International Airport (FLL) in Fort Lauderdale, Florida, US, on Wednesday, Nov. 1, 2023. JetBlue Airways and Spirit Airlines on Friday said they are appealing a federal judge's ruling issued earlier this week that blocks the two carriers' planned merger on antitrust grounds. JetBlue had planned to buy Spirit for $3.8 billion in a deal struck in the summer of 2022. A federal judge on Tuesday, however, barred that combination, saying it would eliminate the budget carrier and mean higher prices for cost-conscious consumers. Spirit shares extended gains posted during the regular session on Friday, rising more than 10% in after-hours trading, while JetBlue's were little changed.

Persons: JetBlue's Organizations: JetBlue, Hollywood International, JetBlue Airways, Spirit Airlines Locations: Fort Lauderdale, Fort Lauderdale , Florida

☆ Troubled Spirit Airlines’ shares rebound despite more losses ahead
▼ + stars: | 2024-01-19 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

The discount airline said in the filing that it expects to beat analysts’ expectations for the end of the year. Shares of Spirit fell 47% in trading Tuesday after the court blocked the acquisition by JetBlue and another 22% on Wednesday. Other analysts didn’t predict bankruptcy or liquidation, but still forecast a difficult course for Spirit trying to make it on its own. It put its operating losses between $158 million to $172 million, down from the $178 million operating loss in the third quarter, and better than forecasts of a $197 million loss. Following $1 billion in losses in 2020 and 2021, the company lost $264 million in the first nine months of 2023.

Persons: Spirit, Cowen, Helane Becker, ” Organizations: New, New York CNN, Spirit Airlines, JetBlue Airways, JetBlue, Airbus, JPMorgan Locations: New York

☆ 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

☆ 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

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