Techno Blender
Digitally Yours.
Browsing Tag

Breaking News: Markets

JetBlue to cut some routes after judge bars Spirit purchase

The JetBlue drop-off area at New York's LaGuardia Airport on Oct. 31, 2023.Leslie Josephs/CNBCJetBlue 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.JetBlue said it will stop flying from New York's John F. Kennedy Airport to Portland, Oregon, and to San Jose, California, and from Westchester, New York, and Martha's Vineyard, according to an internal memo, which was reviewed by CNBC.…

Spirit Airlines raises fourth-quarter forecast, stock jumps

Spirit Airlines jetliners on the tarmac at Fort Lauderdale Hollywood International Airport. (Joe Cavaretta/South Florida Sun Sentinel/Tribune News Service via Getty Images)Joe Cavaretta | South Florida Sun-sentinel | Getty ImagesSpirit Airlines on Friday raised its financial forecast for the fourth quarter of 2023, sending shares soaring more than 20% 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…

Morgan Stanley CEO Ted Pick focused on hitting financial targets

Ted Pick, co-president of Morgan Stanley, speaks during a Bloomberg Television interview in New York, US, on Thursday, Oct. 26, 2023. Jeenah Moon | Bloomberg | Getty ImagesMorgan Stanley's new CEO Ted Pick on Thursday expressed confidence that his bank will hit financial targets of $10 trillion in client assets and a 20% return.Pick, a three-decade Morgan Stanley veteran who took over this month, said he has three priorities: sticking to the strategy laid out by predecessor James Gorman, maintaining the bank's culture and…

Spirit could slash fares, restructure after failed JetBlue takeover

A JetBlue airliner lands past a Spirit Airlines jet on taxi way at Fort Lauderdale Hollywood International Airport on Monday, April 25, 2022.Joe Cavaretta | Sun Sentinel | Getty ImagesSpirit Airlines is on shaky footing after JetBlue Airways' proposed $3.8 billion takeover of the budget carrier was blocked by a federal judge this week.Industry-watchers say the carrier could be forced to cut its already low fares even more. Some Wall Street analysts argue the discount carrier could have to restructure, if not…

Spirit Airlines shares sink after judge blocks JetBlue merger

JetBlue Airways planes are seen near Spirit Airlines planes at the Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Florida, on May 16, 2022.Joe Raedle | Getty Images News | Getty ImagesShares of Spirit Airlines fell about 23% Wednesday, its second day of double-digit losses, after a judge blocked its proposed merger with JetBlue Airways.Spirit is down roughly 60% since the decision blocking its $3.8 billion acquisition by JetBlue was handed down Tuesday, citing reduced competition. The combination…

Jamie Dimon warns on U.S. economy in 2024, 2025

Jamie Dimon, President & CEO,Chairman & CEO JPMorgan Chase, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17yth, 2024. Adam Galici | CNBCJPMorgan Chase CEO Jamie Dimon said he remains cautious on the U.S. economy over the next two years because of a combination of financial and geopolitical risks."You have all these very powerful forces that are going to be affecting us in '24 and '25," Dimon told Andrew Ross Sorkin Wednesday in a CNBC interview at the World…

Goldman Sachs (GS) earnings 4Q 2023

Goldman Sachs on Tuesday posted fourth-quarter results that topped analysts' expectations on better-than-expected asset and wealth management revenue.Here's what the company reported versus what Wall Street analysts surveyed by LSEG, formerly known as Refinitiv, expected:Earnings: $5.48 per share; it wasn't immediately clear if that was comparable to the $3.51 estimate of analysts surveyed by LSEG.Revenue: $11.32 billion vs. $10.8 billion expected, according to LSEGGoldman said earnings for the quarter jumped 51% to $2.01…

JetBlue-Spirit merger block in win for Biden’s Justice Department

LaGuardia International Airport Terminal A for JetBlue and Spirit Airlines in New York.Leslie Josephs | CNBCA federal judge Tuesday blocked JetBlue Airways' purchase of Spirit Airlines after the Justice Department sued to stop the merger, saying the deal would drive up fares for price-sensitive consumers by taking the discount carrier out of the market.JetBlue's proposed $3.8 billion purchase of discounter Spirit would have produced the country's fifth-largest airline, a deal the carriers had said would help them better…

Ford could do 2 things to shine in a challenging 2024 for auto industry

Wall Street sees opportunities for legacy automakers like Ford to stand out in 2024 despite the challenges the industry faces as demand for electric vehicles softens. Ford could make for a successful year by doing two things: continuing its strategic shift toward more profitable hybrids instead of heavy investments in less lucrative EVs and improving quality issues. 1. Shift to hybrids Ford is not willing to go broke on EVs. CEO Jim Farley is moving away from cars that don't make money, like electric vehicles while…

Airline stocks tumble after Delta trims profit forecast

A Delta Airlines Boeing 737-700 is seen lining up before departure at Princess Juliana International Airport in St. Maarten.Fabrizio Gandolfo | Lightrocket | Getty ImagesDelta Air Lines shares slipped about 7% Friday after the company trimmed its 2024 earnings forecast. Delta forecast full-year earnings per share of $6 to $7, below its previous estimate of more than $7 per share for 2024.Other major airlines including United, American and Southwest also fell on the new estimate, released alongside quarterly earnings.…