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 Images Shares of Spirit Airlines fell about 23% Wednesday, its second day of double-digit losses, after a judge blocked its proposed merger with JetBlue […]
Jamie Dimon says ‘it’s a mistake to assume everything is hunky-dory’
“‘I think it’s a mistake to assume that everything is hunky-dory.’” — JPMorgan Chase Chief Executive Jamie Dimon at Davos JPMorgan Chase & Co. Chief Executive Jamie Dimon said Wednesday he remains cautious in the face of “powerful forces” ranging from war to fiscal policy, despite growing consensus that there will be a soft landing […]
Boeing 737 Max 9 review gets independent advisor
Alaska Airlines N704AL is seen grounded in a hangar at Portland International Airport in Portland, Oregon, on Jan. 9, 2024. Mathieu Lewis-rolland | Getty Images Boeing on Tuesday appointed retired Admiral Kirkland Donald to serve as a special advisor while the company grapples with the fallout from an Alaska Airlines midflight accident on a 737 […]
Mortgage demand jumps 10% as rates fall across the board
The numbers: U.S. mortgage applications surged as rates fell across the board in the last week. The 30-year mortgage rate was averaging at the lowest level in three weeks. A drop in rates boosted home-buying and refinancing demand. The overall market composite index — a measure of mortgage application volume — increased in the last […]
Pentagon awards satellite contracts: L3Harris, Lockheed, Sierra Space
Lockheed Martin’s Tranche 0 Transport Layer satellites are seen in one of the company’s processing facilities. Lockheed Martin The Pentagon on Tuesday announced about $2.5 billion in contracts will go to L3Harris, Lockheed Martin and Sierra Space to build satellites for an expanding military system. The U.S. Space Force’s Space Development Agency is having the […]
No rates cuts in 2024? Why investors should think about the ‘unthinkable’
One major Wall Street bank is weighing in on what it calls “an extreme scenario” in which no Group of 10 central bank cuts interest rates this year due to sticky inflation, strong economic growth or fresh shocks that push price gains higher. In a note on Tuesday, Athanasios Vamvakidis, a U.K.-based FX strategist at […]
Classic car auction site Bring a Trailer sales hit record $1.4 billion
1967 Porsche 910 Source: Bringatrailer.com Bring a Trailer, the popular online auction site for collectible cars, posted record sales in 2023, even as classic-car prices hit the skids. Bring a Trailer’s sales increased about 2% last year to over $1.4 billion from $1.35 billion in 2022, according to the company’s CEO Randy Nonnenberg. Bring a […]
Burger King owner Restaurant Brands buys Carrols, largest U.S. franchisee
Burger King fast food restaurant with menu and customers. Jeff Greenberg | Universal Images Group | Getty Images Restaurant Brands International is buying Carrols Restaurant Group, the largest Burger King franchisee in the U.S., for about $1 billion in cash. Restaurant Brands will pay $9.55 per share to acquire Carrols, which operates more than 1,000 […]
Opinion: These cannabis stocks and ETFs could benefit from federal marijuana law reforms
Cannabis stocks advanced sharply to start the week, after the nation’s leading health agency recommended sweeping changes to federal marijuana laws. Still, it’s up in the air whether the proposed changes will ultimately help cannabis companies and investors any time soon — if at all. Below, I’ll share key investor pros and cons in the major […]
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 | CNBC A 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 […]
