How JetBlue’s takeover of Spirit could change air travel

Passengers wait in line at the Spirit Airlines check-in counter at Orlando International Airport. Paul Hennessy | LightRocket | Getty Images Spirit Airlines relented this week and agreed to sell itself to JetBlue Airways for $3.8 billion, hours after breaking off a merger agreement with Frontier Airlines that failed to win enough shareholder support. The … Read more

How JetBlue’s takeover of Spirit could change air travel

Passengers wait in line at the Spirit Airlines check-in counter at Orlando International Airport. Paul Hennessy | LightRocket | Getty Images Spirit Airlines relented this week and agreed to sell itself to JetBlue Airways for $3.8 billion, hours after breaking off a merger agreement with Frontier Airlines that failed to win enough shareholder support. The … Read more

5 things to know before the stock market opens Friday, July 29

A screen displays the Fed rate announcement as a trader reacts on the floor of the New York Stock Exchange (NYSE) in New York City, US, July 27, 2022. Brendan McDermid | Reuters Here are the most important news items that investors need to start their trading day: 1. Taking stock on a summer Friday … Read more

5 things to know before the stock market opens Thursday, July 28

A trader works on the floor of the New York Stock Exchange (NYSE) following a Fed rate announcement, in New York City, July 27, 2022. Brendan McDermid | Reuters Here are the most important news items that investors need to start their trading day: 1. Stock futures look soft US equities markets were seen for … Read more

United Airlines (UAL) 2Q 2022 earnings

An aircraft takes off from O’Hare International Airport on January 18, 2022 in Chicago, Illinois. Scott Olson | Getty Images United Airlines on Wednesday notched a key profit milestone in its pandemic recovery, but said it will scale back its growth plans through 2023. United reported its first quarterly profit — $329 million — since … Read more

ISS urges Spirit shareholders to vote against Frontier merger, calls JetBlue bid superior

LaGuardia International Airport Terminal A for JetBlue and Spirit Airlines in New York. Leslie Josephs | CNBC Proxy advisory firm Institutional Shareholder Services on Friday reversed its stance on Spirit Airlines ‘planned tie-up with Frontier Airlines, urging Spirit shareholders to vote against the deal and calling JetBlue Airways’ all-cash bid a “superior alternative,” yet another … Read more

Spirit Airlines delays Frontier deal vote again amid JetBlue bidding war

Passengers check in at the Spirit Airlines counter at the Fort Lauderdale-Hollywood International Airport on February 07, 2022 in Fort Lauderdale, Florida. Joe Raedle | Getty Images Spirit Airlines has delayed a vote on its planned tie-up with Frontier Airlines for a fourth time as concerns mount about a lack of shareholder support. Spirit said … Read more

Company downgrades are picking up steam as profit outlooks dim

My colleague Ellen Egeth noted Monday there was an unusual spate of downgrades, and that trend continued Tuesday. I suspect this is because analysts are finally starting to get concerned their second-half estimates are too high and are beginning to adjust. Look what happened today in several key sectors overnight: Banks Ahead of the flood … Read more

Spirit-Frontier merger in question after another vote delay, JetBlue circles

The fate of Spirit Airlines’ merger with fellow budget carrier Frontier Airlines is growing murkier. Spirit this week delayed its shareholder meeting for a third time, opening the door to more talks from both Frontier and rival suitor JetBlue Airways. The latter two delays each came just hours before Spirit shareholders were due to vote … Read more

Levi Strauss, GameStop, Twitter and more

Check out the companies making headlines before the bell: Levi Strauss (LEVI) – Levi Strauss rallied 3.9% in the premarket after reporting better-than-expected sales and profit for its latest quarter, helped by higher prices and strong demand for its denim offerings. Levi Strauss also raised its quarterly dividend by 20%. GameStop (GME) – GameStop fell … Read more