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    Immersive sports and entertainment venue Cosm set to build its 5th location in Cleveland – WKYC

    Cosm Reveals Exciting Vision for Its 5th Immersive Sports and Entertainment Venue in Cleveland

    Monumental Sports & Entertainment’s Samantha Brady on the Power of the RSN’s Direct-to-Consumer Streaming Service Monumental+ – Sports Video Group

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1 sentence got Spirit Airlines stock back in the air

January 19, 2024
in General
1 sentence got Spirit Airlines stock back in the air
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A Spirit Airlines plane in the air.

Photo: Daniel Slim/AFP via Getty Images (Getty Images)

The low-price carrier Spirit Airlines is in trouble after a federal judge blocked its merger with JetBlue Airlines for antitrust reasons. It’s not profitable. Its onetime prospective corporate sibling is leaving it hanging out to dry on the question of appealing the merger blockage.

How to Save Money in 2024: Step-by-Step Guide | Your Wallet

Spirit Airlines stock lost almost half its value on Tuesday, the day the merger was blocked, and kept sliding on Wednesday and Thursday. It has a bunch of debt coming due next year.

So why did its stock price close up 17% Friday?

In an update to investors, a single sentence did a bunch to lift investor expectations: “Adjusted operating margin guidance for the fourth quarter 2023 is positively revised 450 basis points from negative 15 to 19 percent to negative 12 to 13 percent.”

Huh?

In plain-speak, that means it’s losing slightly less money than it expected. The Christmas and New Year’s travel season was good to Spirit — “strong” is the word the company used — and jet fuel became a little cheaper. That means the company is confident in telling the market it won’t be losing quite as much money as it previously thought it would in the fourth quarter.

That’s not great news, but at this point anything that’s not bad news sounds pretty good.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Quartz – https://qz.com/1-sentence-spirit-airlines-shares-up-more-20-percent-1851180451

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