Shares plummet as merger plans are scrapped
- Spirit Airlines stock falls 17% after abandoning JetBlue merger
- Shares of Spirit Airlines down 64% from a year ago
- JetBlue shares rise more than 4%
- JetBlue to pay $69 million to Spirit to back out of the deal
Shares of Spirit Airlines fell almost 17% to $5.39 in premarket trading after the company agreed to call off its planned merger with rival JetBlue Airways. This comes as shares were already down 64% from a year ago. On the other hand, JetBlue shares rose more than 4% to $6.74. JetBlue will pay $69 million to Spirit to back out of the deal, which would have seen JetBlue buy Spirit for $3.8 billion.
Factuality Level: 8
Factuality Justification: The article provides factual information about the stock market reaction to the cancellation of the merger between Spirit Airlines and JetBlue Airways. The information is clear, concise, and based on verifiable data without any apparent bias or misleading details.
Noise Level: 2
Noise Justification: The article provides clear and relevant information about the cancellation of the merger between Spirit Airlines and JetBlue Airways, including the impact on their stock prices and the financial details of the deal. The article stays on topic and does not contain irrelevant information. However, it lacks in-depth analysis, antifragility considerations, and accountability of powerful people, which prevents it from scoring higher.
Financial Relevance: Yes
Financial Markets Impacted: Shares of Spirit Airlines and JetBlue Airways
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to financial topics as it discusses the cancellation of a planned merger between Spirit Airlines and JetBlue Airways. However, there is no mention of an extreme event or its impact.
Public Companies: Spirit Airlines (SAVE), JetBlue Airways (JBLU)
Key People:
Reported publicly:
www.marketwatch.com 
