Spirit Airlines’ stock falls 4% after company cuts Q3 guidance to reflect promotional activity and higher fuel costs

Spirit Airlines Inc.’s stock SAVE, -1.14% tumbled 4% in premarket trade Wednesday, after the discount carrier lowered its third-quarter guidance to reflect increased promotional activity for travel in the second half and aa recent spike in fuel prices. “During the last few weeks, the company has seen heightened promotional activity with steep discounting for travel booked for the second half of the third quarter through the pre-Thanksgiving travel period,” Spirit said in a regulatory filing.

makes concessions to attempt to get its mooted merger with Spirit back on regulatory track. Spirit’s stock has fallen 11% in the year to date, while the U.S. Global JETS ETF JETS, -0.05% has gained 8% and the S&P 500 SPX, -0.57% has gained 16.2%.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

CFRA says Spirit Airlines is still a sell, says JetBlue’s moves to secure merger unlikely to save dealCFRA reiterated its sell rating on Spirit Airlines Inc. on Tuesday, and said JetBlue Airways Corp.’s move Monday to transfer Spirit holdings at Boston and...
Source: MarketWatch - 🏆 3. / 97 Read more »

Berkshire Hathaway Inc. Cl B stock rises Monday, still underperforms marketShares of Berkshire Hathaway Inc. Cl B inched 0.65% higher to $365.52 Monday, on what proved to be an all-around favorable trading session for the stock...
Source: MarketWatch - 🏆 3. / 97 Read more »

Alphabet Inc. Cl A stock rises Monday, still underperforms marketShares of Alphabet Inc. Cl A inched 0.40% higher to $136.92 Monday, on what proved to be an all-around great trading session for the stock market, with the...
Source: MarketWatch - 🏆 3. / 97 Read more »

Apple Inc. stock rises Monday, still underperforms marketShares of Apple Inc. inched 0.66% higher to $179.36 Monday, on what proved to be an all-around great trading session for the stock market, with the NASDAQ...
Source: MarketWatch - 🏆 3. / 97 Read more »