The planned M&A deal between JetBlue ($JBLU (-0.77%) ) and Spirit Airlines ($SAVE (-1.73%) ) in the amount of 3.8 billion US dollars has been ruled by a US judge due to concerns about competition prohibited.
The decision of the US federal judge
William Young found that the planned merger would impair competition in the US aviation market. affect and increase ticket prices could increase ticket prices. Per Reuters.
A federal judge in Boston on Tuesday blocked the planned merger of Spirit Airlines ($SAVE (-1.73%) ) and JetBlue Airways ($JBLU (-0.77%) ) valued at 3.8 billion US dollarsr blocked.
The decision was made due to concerns regarding restrictions on competition and rising air fares, which the US Department of Justice agreed with.
The shares of Spirit Airlines plunged by 47% while those of JetBlue rose. JetBlue had already announced in July 2022 the takeover which would have created the fifth-largest airline in the USA.
The Justice Department had announced in March 2023 due to competition concerns lawsuit filed due to competition concerns. To counteract these concerns JetBlue in June 2023, JetBlue sold all Spirit shareholdings at LaGuardia Airport to Frontier
Airlines ($FNT ).
In addition JetBlue in September 2023 with Allegiant ($ALGT (+0.26%) ) on the transfer of Spirit interests at various airports. Approval was expected before yesterday's decision in the first half of 2024.
getquin Daily Summary 07/28/2022
Hello getquin,
Fresenius is having its guidance lowered significantly due to staff shortages. Also, JetBlue is buying Spirit. Today's quarterly numbers are Shell and Meta
Europe🌍:
1. Fresenius lowers forecast
Due to staff shortages and rising costs, DAX-listed Fresenius Medical Care has to significantly lower its corporate targets for the second year in a row. Parent company Fresenius is also lowering its mid-term targets and annual forecast, and FMC is slashing its 2025 strategy altogether.
The company said late Wednesday night that the dialysis group now expects revenue growth for the current year to be at the lower end of its previous estimate range and net income to decline by a high double-digit percentage. Previously, FMC had expected revenue and net income growth on a constant currency basis in the low to mid single-digit percentage range.
That has big implications for the stock: https://bit.ly/3BoZpBf
🟥 $FRE (-1.05%) (🔽 -8,44 %)
America🌏:
2. JetBlue buys Spirit for $3.8 billion
JetBlue Airways has reached an agreement to purchase Spirit Airlines in a deal valued at $3.8 billion. The acquisition would create the country's fifth-largest airline and eliminate a fast-growing low-cost carrier from the market.
The deal, announced Thursday morning, caps months of a bitter bidding war for Spirit and came just hours after Spirit abandoned plans to merge with fellow low-cost carrier Frontier Airlines. Spirit lacked shareholder support to win approval for the merger with Frontier Airlines, which was first unveiled in February.
More on the deal: https://cnb.cx/3PZsOG9
🟩 $JBLU (-0.77%) (🔼 -4.1%)
🟩 $SAVE (-1.73%) (🔼 +2.87%)
Quarterly Figures:
Meta
$META (+3.24%)
Feeling the impact of falling global ad spending, Facebook owner Meta admitted its first revenue decline since going public in 2012. The IT company said Wednesday that its second-quarter revenue fell slightly by 1% to $28.8 billion (28.18 billion euros). The revenue thus fell short of analysts' forecasts, who had already predicted a difficult quarter in the wake of Snap and Twitter's troubles. In after-hours trading, the share price fell by around 5%. This also had something to do with the depressed mood.
EPS: 🟥 $2.55 expected vs $2.46 published; difference: -3.60%.
Sales: 🟥 $28.95 billion expected vs $28.82 billion published; difference: -0.45 %.
Shell
$SHEL (+1.02%)
EPS: 🟩 $2.80 expected vs $3.08 published; variance: 9.91 %
Sales: 🟩 $82.30 billion expected vs $100.06 billion published; variance: 21.58%
Stocks of the day:
🟩 TOP $WING (-1.06%) €123.00 (🔼 +25.51%)
🟥 FLOP $TDOC (+0.24%) , 32.50 € (🔽 -22.61%)
🟩Most searched $MSFT (+1.09%) , 269.45 (🔼 +2.76%)
🟩 Most traded $PLUG (-2.3%) , 20.80 (🔼 +21.81%)
🟩 S&P500, 4,033.24 (🔼 0.23%)
🟩 DAX, 13,243.63 (🔼 +0.59%)
🟩 Bitcoin ₿, €22,778.85(🔼 +1.24%)
Time: 17:00 CEST
Fun Fact:
The Great Wall of China is 21,196 km long!
The first commercial text message was sent in December 1992 and it was "Merry Christmas"!
getquin Daily Summary 28.07.2022
Hello getquin,
Fresenius is having its guidance lowered significantly due to staff shortages. Also, JetBlue is buying Spirit. Today's quarterly figures are Shell and Meta.
Europe🌍:
1. fresenius decreases forecast
Due to staff shortages and rising costs, DAX-listed Fresenius Medical Care has to significantly lower its corporate targets for the second year in a row. Parent company Fresenius is also lowering its mid-term targets and annual forecast, and FMC is completely slashing its 2025 strategy.
The company said late Wednesday night that the dialysis group now expects revenue growth for the current year to be at the lower end of its previous estimate range and net income to decline by a high double-digit percentage. Previously, FMC had expected revenue and net income growth on a constant currency basis in the low to mid single-digit percentage range.
This has a major impact on the share price: https://bit.ly/3BoZpBf
🟥 $FRE (-1.05%) (🔼 -8,55%)
America🌏:
2. JetBlue buys Spirit for $3.8 billion
JetBlue Airways has reached an agreement to buy Spirit Airlines in a deal valued at $3.8 billion. The acquisition would create the country's fifth-largest airline and eliminate a fast-growing low-cost carrier from the market.
The deal, announced Thursday morning, caps months of a bitter bidding war for Spirit and came just hours after Spirit abandoned plans to merge with fellow low-cost carrier Frontier Airlines. Spirit lacked shareholder support to win approval for the merger with Frontier Airlines, which was first unveiled in February.
More on the deal: https://cnb.cx/3PZsOG9
🟩 $JBLU (-0.77%) (🔼 -4,1%)
🟩 $SAVE (-1.73%) (🔼 +2,87%)
Quarterly figures:
Meta
$META (+3.24%)
Feeling the impact of falling global advertising spending, Facebook owner Meta admitted its first revenue decline since going public in 2012. The IT company said Wednesday that second-quarter revenue fell slightly by 1% to $28.8 billion (28.18 billion euros). The revenue thus fell short of analysts' forecasts, who had already predicted a difficult quarter in the wake of Snap and Twitter's troubles. In after-hours trading, the share price fell by around 5%. This also had something to do with the depressed mood.
EPS: 🟥 $2.55 expected vs $2.46 published; difference: -3.60%.
Sales: 🟥 $28.95 billion expected vs $28.82 billion published; Difference: -0.45 %
Shell
$SHEL (+1.02%)
EPS: 🟩 $2.80 expected vs $3.08 published; difference: 9.91 %.
Sales: 🟩 $82.30 billion expected vs $100.06 billion published; difference: 21.58%
Stocks of the day:
🟩 TOP $WING (-1.06%) 123,00 € (🔼 +25,51%)
🟥 FLOP $TDOC (+0.24%) , 32,50 € (🔽 -22,61%)
🟩Most searched $MSFT (+1.09%) , 269,45 (🔼 +2,76%)
🟩 Most traded $PLUG (-2.3%) , 20,80 (🔼 +21,81%)
🟩 S&P500, 4,033.24 (🔼 0.23%)
🟩 DAX, 13,243.63 (🔼 +0.59%)
🟩 bitcoin ₿, €22,778.85(🔼 +1.24%)
Time: 17:00 CEST
Fun Fact:
The Great Wall of China is 21,196 km long.
The first commercial text message was sent in December 1992 and it was "Merry Christmas"!
The price target is $3.25 and the stock is covered by 12 analysts.
Buy
0
Hold
7
Sell
5
Spirit Airlines, Inc. offers affordable travel to value-conscious guests (Guests). The Company’s all-Airbus fleet is one of the most fuel efficient in the United States. It serves approximately 93 destinations in 15 countries throughout the United States, Latin America and the Caribbean. Its ultra low-cost carrier (ULCC) business model allows it to compete principally by offering Guests unbundled base fares that remove components traditionally included in the price of an airline ticket. It provides customizable travel options starting with an unbundled fare. This allows its Guests to pay only for the options they choose like bags, seat assignments, refreshments and Wi-Fi - something the Company call A La Smarte. The Company operate the Spirit Saver$ Club, which is a subscription-based loyalty program that allows members access to unpublished, extra-low fares as well as discounted prices on bags and seats, shortcut boarding and security. It also operates the Free Spirit loyalty program.
