Ultime notizie per Spirit Airlines (NYSE:SAVE) Azioni

Spirit Airlines

Spirit Airlines Inc serves the United States, Latin America, and Caribbean as an airline operator. It primarily offers customers unbundled base fares to strip out any unneeded travel amenities. If needed, a customer can elect for additional options at an extra charge. Flight crews are entirely interchangeable across all aircraft, and maintenance and other support services are simplified due to not having an overly complex fleet. The company has one operating segment, air transportation, owing to its system wide route structure. It may decide to expand its network if a market is underserved or overpriced. The majority of revenue is derived from the United States.

Spirit Airlines Inc

Savencia SA

SaverOne 2014 Ltd. - American Depositary Shares

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Savers Value Village Inc

Spirit Airlines Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) is facing turbulent skies ahead. While the broader airline industry is flying high, Spirit's financial woes are pushing it toward <a href="https://www.benzinga.com/general/social-media/24/10/41189534/spirit-airlines-bankruptcy-chatter-has-critics-blaming-biden-heres-what-history-shows-about-">a potential bankruptcy</a>. 
With debt piling up and its stock plummeting, the budget carrier is now fast-tracking the retirement of its Airbus A319 fleet. 
Investors are left wondering: Can Spirit pull off a turnaround, or is this the beginning of the end?
<h2 class="wp-block-heading">What Happened?</h2>
Spirit Airlines is expediting the retirement of its Airbus A319 fleet, with final flights scheduled for Jan. 8, 2025—months ahead of its original plan, <a href="https://aviationa2z.com/index.php/2024/10/17/spirit-airlines-early-retiring-its-airbus-a319-fleet/">reported</a> Aviationa2z. The carrier's last four A319 flights will depart from Fort Lauderdale to Newark, Boston, Houston, and San Juan. This move comes as Spirit scrambles to streamline operations amid financial distress, exacerbated by the failed $3.8 billion merger with JetBlue Airways Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>).
The early fleet retirement underscores Spirit's urgent need to cut costs as it battles mounting debt and prepares for potential Chapter 11 bankruptcy. 
Read Also: <a href="https://www.benzinga.com/general/social-media/24/10/41189534/spirit-airlines-bankruptcy-chatter-has-critics-blaming-biden-heres-what-history-shows-about-">Spirit Airlines Bankruptcy Chatter Has Critics Blaming Biden: Here&#8217;s What History Shows About Carrier Mergers</a>
CEO Ted Christie has confirmed ongoing talks with bondholders, with $1.1 billion in secured bonds coming due within a year.
<h2 class="wp-block-heading">Why It Matters?</h2>
For Spirit investors, these developments paint a grim picture. The accelerated retirement of the A319 is part of the airline's broader effort to reduce operational costs, but it also signals deeper financial troubles. 
Spirit's stock has cratered, down 90% year-to-date, trading at $1.63. The company hasn't generated an annual profit since before the pandemic, and technical indicators show continued bearish momentum, with the stock below key moving averages.
Meanwhile, the airline sector is enjoying a resurgence, with United Airlines Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) reporting strong third quarter earnings and announcing a $1.5 billion stock buyback.
Read Also: <a href="https://www.benzinga.com/news/earnings/24/10/41364779/tech-stocks-stall-small-caps-surge-as-regional-banks-rally-airlines-rocket-whats-driving-markets-we">Tech Stocks Stall, Small Caps Surge As Regional Banks Rally, Airlines Rocket: What&#8217;s Driving Markets Wednesday?</a>
The Dow Jones U.S. Airlines Index and the U.S. Global Jets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETS#NYSE">JETS</a>) also hit new 52-week highs on Wednesday, leaving Spirit far behind as competitors surge.
<h2 class="wp-block-heading">What's Next?</h2>
Spirit Airlines is on a tightrope. Bondholder negotiations could stave off bankruptcy, but the clock is ticking. 
The airline also faces operational challenges, including the recall of Pratt &amp; Whitney engines, forcing part of its fleet to be grounded. 
With a planned 20% capacity reduction in the fourth quarter, Spirit's future remains uncertain, while the rest of the airline industry continues to climb.
Read Next: 
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Image via Wikimedia Commons

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Spirit Airlines Struggles To Regain Altitude As Competitors Soar, Bankruptcy Concerns Intensify

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Shares of airline stocks are trading higher in sympathy with United, which gained after reporting strong earnings and announcing a buyback.

RYAAY

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Shares of airline stocks are trading higher. The industry may be moving on continued strength after recent fears surrounding Hurricane Milton have curbed and fuel costs, which are a major expense for airlines, dropped in price.

Hurricane Milton has wreaked havoc on the state of Florida and closed multiple airports in the region, leading to thousands of flight cancellations <a href="https://www.benzinga.com/topic/hurricane-milton">due to the hurricane.</a>
Flight Cancellations: The airline sector is <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41254312/hurricane-milton-descends-on-florida-analysts-warn-of-impact-on-disney-nexteras-flo">one of many </a>that could experience a short-term and long-term negative impact from the destruction of Hurricane Milton, which made landfall in Florida Wednesday night.
Over 3,000 flights have been canceled and delayed as of Thursday morning, <a href="https://www.nbcnews.com/weather/hurricanes/live-blog/hurricane-milton-live-updates-rcna174774">according </a>to NBC News. Reporter Tom Costello said the number could grow as the airports closed in Florida are having a ripple effect on other airports across the nation.
NBC showed the following airports in Florida closed:
<ul>
<li>St. Petersburg/Clearwater (PIE)</li>
<li>Tampa (TPA)</li>
<li>Orlando (MCO)</li>
<li>Southwest Florida (in Fort Myers) (RSW)</li>
<li>Sarasota Bradenton (SRQ)</li>
<li>Palm Beach (PBI)</li>
</ul>
Costello noted that while other Florida airports such as Miami are open, the hurricane is causing cancellations and delays at that airport. The Flightaware Misery Map <a href="https://www.flightaware.com/miserymap/">showed </a>Miami as the airport with the most cancellations and delays Thursday among open airports.
The airport closures come ahead of Monday's Columbus Day holiday and during the High Holy Days, which make for a busy travel week.
Costello said he expects the airports to be open by the weekend and back to normal operations.
"The big variable is going to be how much damage these individual airports have suffered," Costello said.
The Tampa International Airport <a href="https://news.tampaairport.com/tpa-damage-assessments-underway-following-hurricane-milton/">said </a>Thursday it was conducting an "assessment of conditions" at the airport and airfield to determine when it could "safely reopen."
Read Also: <a href="https://www.benzinga.com/news/24/10/41266095/hurricane-milton-knocks-out-power-for-over-2m-in-florida-nextera-energy-duke-energy-and-tampa-electr">Hurricane Milton Knocks Out Power For Over 2M In Florida, NextEra Energy, Duke Energy, And Tampa Electric Report Major Outages</a>
Companies Most Impacted: Airline companies throughout the U.S. are likely to be negatively impacted from Hurricane Milton with cancellations and delays leading to refunds and vouchers.
The Orlando airport is the busiest impacted and could have the largest affect on airlines. The airport served 57.7 million passengers in 2023, ranking first in Florida and seventh in the U.S., as <a href="https://simpleflying.com/orlando-airport-top-airlines/">reported </a>by Simple Flying.
According to the report, these are the largest airlines for the airport based on market share:
<ol>
<li>Southwest Airlines Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>): 25%</li>
<li>Spirit Airlines Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>): 14%</li>
<li>Delta Air Lines Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>): 12%</li>
<li>JetBlue Airways Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>): 11%</li>
<li>Frontier Group Holdings (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ulcc#NASDAQ">ULCC</a>): 10%</li>
<li>American Airlines Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>): 9%</li>
<li>United Airlines Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>): 7%</li>
</ol>
These seven airlines could see the biggest impact from the Orlando airport closing. The airports in Tampa and Southwest Florida (Fort Myers) also rank among the busiest airports in Florida.
Other large operators at Florida airports include Allegiant Travel Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALGT#NASDAQ">ALGT</a>) and Sun Country Airlines Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNCY#NASDAQ">SNCY</a>), although these airlines could be less impacted by the hurricane and the flight cancellations.
Investors should also monitor the U.S. Global Jets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETS#NYSE">JETS</a>), which tracks the overall airline sector and could be highly volatile if the airports face extended closures and cancellations.
The impact on Spirit Airlines could be particularly noteworthy as the company is <a href="https://www.benzinga.com/news/24/10/41182466/spirit-airlines-drops-over-40-amid-bankruptcy-discussions">reportedly exploring bankruptcy. </a>
Read Next: 
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<li><a href="https://www.benzinga.com/general/social-media/24/10/41260997/white-house-joins-reddit-once-a-waffle-house-idea-now-source-for-critical-information-and-hu">White House Joins Reddit: Once A Waffle House Idea, Now Source For &#8216;Critical Information&#8217; And Hurricane Milton Updates</a></li>
</ul>
Photo: Tampa International Airport, photo by Feng Cheng via Shutterstock

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Hurricane Milton Closes Multiple Florida Airports, Over 3,000 Flights Canceled And Delayed: 10 Airline Stocks That Could Be Hit Hardest

Throughout the last three months, 6 analysts have evaluated Spirit Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>), offering a diverse set of opinions from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">2</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
</tr>
</tbody>
</table>
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $2.29, along with a high estimate of $2.75 and a low estimate of $1.50. A decline of 21.03% from the prior average price target is evident in the current average. 
<img src="https://www.benzinga.com/files/images/story/2024/1728493347_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
The perception of Spirit Airlines by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Christopher Stathoulopoulos</td>
<td>Susquehanna</td>
<td>Lowers</td>
<td>Negative</td>
<td>$1.50</td>
<td>$2.25</td>
</tr>
<tr>
<td>Christopher Stathoulopoulos</td>
<td>Susquehanna</td>
<td>Lowers</td>
<td>Negative</td>
<td>$2.25</td>
<td>$2.50</td>
</tr>
<tr>
<td>Stephen Trent</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Sell</td>
<td>$2.75</td>
<td>$3.50</td>
</tr>
<tr>
<td>Helane Becker</td>
<td>TD Cowen</td>
<td>Announces</td>
<td>Sell</td>
<td>$2.00</td>
<td>-</td>
</tr>
<tr>
<td>Andrew Didora</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Underperform</td>
<td>$2.75</td>
<td>$3.25</td>
</tr>
<tr>
<td>Christopher Stathoulopoulos</td>
<td>Susquehanna</td>
<td>Lowers</td>
<td>Negative</td>
<td>$2.50</td>
<td>$3.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Spirit Airlines. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Spirit Airlines compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Spirit Airlines's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Spirit Airlines's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/SAVE/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Spirit Airlines analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>Delving into Spirit Airlines's Background</h2>
Spirit Airlines Inc serves the United States, Latin America, and Caribbean as an airline operator. It primarily offers customers unbundled base fares to strip out any unneeded travel amenities. If needed, a customer can elect for additional options at an extra charge. Flight crews are entirely interchangeable across all aircraft, and maintenance and other support services are simplified due to not having an overly complex fleet. The company has one operating segment, air transportation, owing to its system wide route structure. It may decide to expand its network if a market is underserved or overpriced. The majority of revenue is derived from the United States.
<h3>Financial Insights: Spirit Airlines</h3>
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
Revenue Challenges: Spirit Airlines's revenue growth over 3 months faced difficulties. As of 30 June, 2024, the company experienced a decline of approximately -10.58%. This indicates a decrease in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Industrials sector.
Net Margin: Spirit Airlines's net margin falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of -15.06%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Spirit Airlines's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of -21.3%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Spirit Airlines's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of -2.02%, the company may face hurdles in achieving optimal financial performance.
Debt Management: Spirit Airlines's debt-to-equity ratio is notably higher than the industry average. With a ratio of 9.17, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
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Analyst Ratings

Expert Ratings For Spirit Airlines

Susquehanna analyst Christopher Stathoulopoulos maintains Spirit Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) with a Negative and lowers the price target from $2.25 to $1.5.

Price Target

Susquehanna Maintains Negative on Spirit Airlines, Lowers Price Target to $1.5

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.
Stocks rocketed higher on Friday as fresh data revealed nonfarm payrolls surged by 254,000 in September. The unemployment rate slipped to 4.1%, defying projections that it would hold steady at 4.2%.
The S&amp;P 500 climbed 0.22% for the week, while the Dow eked out a 0.09% gain. The Nasdaq, despite entering Friday with losses exceeding 1%, managed a 0.1% weekly rise, marking a notable turnaround.
Crude oil prices jumped again on Friday, capping off a nearly 9% weekly gain. The surge came amid heightened tensions in the Middle East, following Iran's missile attack on Israel.
Chinese tech stocks, represented by the iShares MSCI China ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHI#NASDAQ">MCHI</a>), enjoyed another week of strong gains, driven by growing enthusiasm <a href="https://www.benzinga.com/markets/asia/24/10/41192510/labor-market-surprises-with-strength-energy-stocks-rally-on-israel-iran-tensions-chinese-tech-giants">for domestic stimulus efforts.</a>
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
<a href="https://www.benzinga.com/news/24/10/41156900/nvidia-ceo-jensen-huang-says-demand-for-next-gen-blackwell-gpu-platform-insane-everyone-wants-to-hav">&#8220;Nvidia CEO Jensen Huang Says Demand For Next-Gen Blackwell GPU Platform Insane: &#8216;Everyone Wants To Have The Most, And Everyone Wants To Be First,'&#8221;</a> by <a href="https://www.benzinga.com/author/ananya-gairola">Ananya Gairola</a>, reports that Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang highlighted the overwhelming demand for the new Blackwell GPU platform, confirming it is in full production and expected to drive significant revenue growth despite investor concerns over delays.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41136347/is-dogecoins-bullish-momentum-over-after-18-retreat-from-recent-highs-not-yet-say-a">&#8220;Is Dogecoin&#8217;s Bullish Momentum Over After 18% Retreat From Recent Highs? Not Yet, Say Analysts,&#8221;</a> by <a href="https://www.benzinga.com/author/aniket-verma">Aniket Verma</a>, highlights that despite Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) experiencing an 18% drop, analysts like Santiment and Ali Martinez believe its bullish potential remains strong, citing increased whale activity and technical signals of further upside.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41100053/apples-iphone-16-pro-demand-correction-in-sight-analyst-highlights-delivery-trends-">&#8220;Apple&#8217;s iPhone 16 Pro Demand Correction In Sight: Analyst Highlights Delivery Trends Across Global Markets,&#8221;</a> by <a href="https://www.benzinga.com/author/anusuya-lahiri-0">Anusuya Lahiri</a>, reports that a JPMorgan analyst sees stabilizing delivery times for Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) iPhone 16 Pro models, indicating a demand correction ahead, as lead times for base models moderate across key markets like the U.S., China, and Europe.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/general/entertainment/24/10/41162458/amazon-ceo-andy-jassy-said-prime-video-will-have-meaningfully-fewer-ads-than-rivals-2-month">Amazon CEO Andy Jassy Said Prime Video Will Have &#8216;Meaningfully Fewer Ads&#8217; Than Rivals. 2 Months Later, Streaming Giant Is Reportedly Set To Get More Ads</a>
<a href="https://www.benzinga.com/trading-ideas/technicals/24/09/41096549/cisco-set-for-technical-breakout-as-golden-cross-signals-strength-analyst-predicts-stock">Cisco Set For Technical Breakout As Golden Cross Signals Strength: Analyst Predicts Stock Will &#8216;Quietly&#8217; Climb Higher</a>
<a href="https://www.benzinga.com/markets/equities/24/10/41135042/reliable-tesla-number-cruncher-forecasts-biggest-delivery-beat-in-3-years-fund-manager-says-this">Reliable Tesla Number Cruncher Forecasts Biggest Delivery Beat In 3 Years: Fund Manager Says This Could Change The Stock&#8217;s Narrative</a>
The Bears
<a href="https://www.benzinga.com/general/social-media/24/10/41189534/spirit-airlines-bankruptcy-chatter-has-critics-blaming-biden-heres-what-history-shows-about-">&#8220;Spirit Airlines Bankruptcy Chatter Has Critics Blaming Biden: Here&#8217;s What History Shows About Carrier Mergers,&#8221;</a> by <a href="https://www.benzinga.com/author/anthony-noto-0">Anthony Noto</a>, explores how Spirit Airlines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) is in bankruptcy talks, with critics blaming the blocked JetBlue merger, while history shows that mergers in the airline industry often lead to job losses regardless of financial struggles.
<a href="https://www.benzinga.com/government/24/10/41140319/humana-faces-sharp-decline-in-medicare-star-ratings-for-2025-braces-for-2026-revenue-hit">&#8220;Humana Faces Sharp Decline In Medicare Star Ratings For 2025, Braces For 2026 Revenue Hit,&#8221;</a> by <a href="https://www.benzinga.com/author/vandana-singh">Vandana Singh</a>, reports that Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>) is anticipating a major drop in Medicare Advantage Star Ratings, with only 25% of members enrolled in plans rated four stars or above, which could lead to significant revenue losses in 2026.
<a href="https://www.benzinga.com/markets/equities/24/09/41086177/amazon-ceo-andy-jassy-faces-employee-revolt-over-full-time-return-to-office-mandate-73-consider-">&#8220;Amazon CEO Andy Jassy Faces Employee Revolt Over Full-Time Return To Office Mandate, 73% Consider Quitting: Survey,&#8221;</a> by <a href="https://www.benzinga.com/author/kaustubh-bagalkote">Kaustubh Bagalkot</a>, reports that Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) CEO Andy Jassy is facing internal backlash as 73% of surveyed employees consider leaving due to a new full-time return-to-office policy starting in 2025, sparking concerns over morale and retention.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/markets/asia/24/10/41141152/cramer-says-hot-money-flowing-from-nvidia-apple-into-china-focus-on-alibaba-if-you-must">Cramer Says &#8216;Hot Money&#8217; Flowing From Nvidia, Apple Into China, Focus On Alibaba &#8216;If You Must&#8217;</a>
<a href="https://www.benzinga.com/markets/asia/24/09/41084907/japans-nikkei-plummets-over-2-000-points-amid-change-of-guard-while-chinese-market-extends-stimulus">Japan&#8217;s Nikkei Plummets Over 2,000 Points Amid Change Of Guard, While Chinese Market Extends Stimulus-Driven Run: What&#8217;s Driving Sentiment In Asia</a>
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Benzinga Bulls And Bears: Nvidia, Apple, Amazon, Spirit Airlines — And Dogecoin Drops But Whale Activity Remains High

U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining more than 100 points on Friday.
The Dow traded up 0.37% to 42,165.39 while the NASDAQ rose 0.77% to 18,056.62. The S&amp;P 500 also rose, gaining, 0.46% to 5,726.34.
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/10/41183602/how-to-earn-500-a-month-from-phillips-66-stock-ahead-of-q3-earnings">How To Earn $500 A Month From Phillips 66 Stock Ahead Of Q3 Earnings</a>
Leading and Lagging Sectors Financials shares jumped by 1.2% on Friday.
In trading on Friday, real estate shares dipped by 0.9%.
Top Headline
The total number of active U.S. oil rigs fell by five to 479 rigs this week, Baker Hughes Inc reported.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Phoenix Motor Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEV#NASDAQ">PEV</a>) shares shot up 188% to $1.0012 after the company reported a substantial increase in the first-quarter results.</li>
<li>Shares of Apogee Enterprises, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APOG#NASDAQ">APOG</a>) got a boost, surging 24% to $85.08 after the company reported better-than-expected second-quarter financial results and raised its FY25 adjusted EPS guidance above estimates.</li>
<li>Beneficient (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BENF#NASDAQ">BENF</a>) shares were also up, gaining 53% to $1.82 after the company announced its subsidiary, Beneficient Company Holdings, consummated a previously announced transaction pursuant to which approximately $126 million of its preferred equity was redesignated as non-redeemable.</li>
</ul>
Equities Trading DOWN
<ul>
<li>AMTD Digital Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HKD#NYSE">HKD</a>) shares dropped 15% to $4.45.</li>
<li>Shares of ZIM Integrated Shipping Services Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIM#NYSE">ZIM</a>) were down 12% to $19.06.</li>
<li>Spirit Airlines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) was down, falling 27% to $1.6459 following a report suggesting that the company is exploring the potential of filing for bankruptcy.</li>
</ul>
Commodities In commodity news, oil traded up 1.5% to $74.83 while gold traded down 0.5% at $2,665.30.
Silver traded down 0.3% to $32.375 on Friday, while copper rose 0.3% to $4.5670.
Euro zone
European shares closed mostly higher today. The eurozone's STOXX 600 rose 0.44%, Germany's DAX rose 0.55% and France's CAC 40 climbed 0.85%. Spain's IBEX 35 Index rose 0.35%, while London's FTSE 100 fell 0.02%.
The S&amp;P Global UK construction PMI jumped to 57.2 in September compared to 53.6 in the previous month, while France construction PMI declined to 37.9 in September from 40.1 in the earlier month. The HCOB Eurozone construction PMI climbed to 42.1 in September versus 41.4 in the prior two months.
Asia Pacific Markets
Asian markets closed mixed on Friday, with Japan's Nikkei 225 gaining 0.22%, Hong Kong's Hang Seng Index gaining 2.82% and India's BSE Sensex dipping 0.98%.
The HSBC India services PMI was revised downward to 57.7 in September versus a preliminary reading of 58.9. The S&amp;P Global Hong Kong SAR PMI surged to 50.0 in September compared to August's reading of 49.4.
Economics
<ul>
<li>The U.S. economy added 254,000 jobs in September, compared to a revised 159,000 gain in August, and topping market estimates of 147,000. The unemployment rate declined to 4.1% in September from 4.2% in the previous month.</li>
<li>The total number of active U.S. oil rigs fell by five to 479 rigs this week, Baker Hughes Inc reported.</li>
</ul>
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Nasdaq Gains Over 100 Points; Beneficient Shares Spike Higher

A stronger-than-expected September jobs report fueled gains on Wall Street, overshadowing investor concerns that had been driven by escalating geopolitical tensions in the Middle <a href="https://www.benzinga.com/news/global/24/10/41126038/iran-attacks-israel-with-missiles-middle-east-tensions-escalates-s-p-500-stocks-bitcoin-fall-as-oil">East earlier this week. </a>
The U.S. economy added 254,000 nonfarm payroll jobs in September, a significant jump from August's 159,000 and well above forecasts of 140,000. This marked the most robust employment growth since March 2024.
In addition, the unemployment rate dropped more than anticipated to 4.1%, while average hourly earnings also surpassed expectations, signaling a red-hot labor market.
Small-cap stocks outpaced their large-cap peers as worries about an economic slowdown subsided further. Meanwhile, traders adjusted their outlook for the Federal Reserve's November meeting, reducing the probability of a 50-basis-point rate cut from 30% to just 10% as the stronger jobs data diminished the need for a more aggressive policy move.
U.S. Treasury yields rose sharply in response to the solid labor market data. The 2-year yield climbed by 20 basis points, while the 10-year yield increased by 12 basis points. 
Chinese equities continued their upward trajectory, driven by ongoing domestic stimulus measures. The iShares China Large-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXI#NYSE">FXI</a>) reached levels last seen in February 2022, just before Russia's invasion of Ukraine.
Gold dipped 0.3% as the U.S. dollar strengthened and bond yields climbed. Oil prices extended their rally for the fourth consecutive session, with WTI crude hitting $75 per barrel during intraday trading.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) surged 2.2%, climbing to $62,000.
<h3 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,203.80</td>
<td>1.1 %</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,932.47</td>
<td>0.7%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,727.63</td>
<td>0.5%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,146.54</td>
<td>0.3%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:35 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent100424&amp;t=be2bearmibe3na1">Benzinga Pro</a> data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;rose 0.5% to $570.47.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;inched 0.3% higher to $421.66.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.7% to $484.95.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rallied 1.2% to $218.77.</li>
<li>The Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) outperformed, up 1.2%. The Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) lagged, down 0.8%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
<ul>
<li>Semiconductor stocks rallied, with Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) leading gains, up over 4%. </li>
<li>Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) fell over 4% on a quarterly revenue miss. </li>
<li>Spirit Airlines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) tumbled 26%, amid bankruptcy discussions with creditors following the failed merger with JetBlue Airways Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>). Peers such as American Airlines Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NYSE">AAL</a>) and United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) rallied on the news, up by 5.4% and 3.6%, respectively. </li>
</ul>
Read now: <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41187740/blowout-september-jobs-report-spurs-reactions-6-economists-say-aggressive-fed-rat">&#8216;Blowout&#8217; September Jobs Report Spurs Reactions: 6 Economists Say Aggressive Fed Rate Cuts May Face Obstacles</a>
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Wall Street Rallies, Small Caps Outperform On Strong Jobs Report, Chinese Stocks Soar To 32-Month Highs: What's Driving Markets Friday?

When word got around that Spirit Airlines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) was <a href="https://www.benzinga.com//node/41182466">considering a bankruptcy</a> filing, critics quickly took to social media to blame the Biden administration. 
Why? Recall how, in January, U.S. <a href="https://www.benzinga.com/news/24/01/36648448/jetblue-spirit-airlines-merger-blocked-spirit-shares-tumble">antitrust regulators successfully blocked</a> JetBlue Airways Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) from buying Spirit for $3.8 billion. Indeed, over the past four years, regulators <a href="https://www.benzinga.com/government/24/09/40693260/kroger-albertsons-merger-in-ftc-crosshairs-customers-competitors-at-risk">often hold up</a> M&amp;A activity they consider anti-competitive, such as <a href="https://www.benzinga.com/news/large-cap/22/10/29266605/kroger-albertsons-finally-seal-the-rumored-merger-deal-see-highlights">the $25 billion merger</a> between Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) and Alberstons Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>).
The JetBlue/Spirit scenario was no different. Fast-forward to this week: The <a href="https://www.wsj.com/articles/spirit-airlines-in-talks-with-bondholders-over-terms-of-potential-bankruptcy-filing-fdd23fae">Wall Street Journal</a> reported Spirit is in talks with bondholders and creditors to see if a Chapter 11 bankruptcy is the best option for the troubled carrier.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Biden and Harris torched the merger. Now many will be without a job.
&mdash; Ottoman (@raddadcomments) <a href="https://twitter.com/raddadcomments/status/1841958271655280659?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The JetBlue deal would have saved jobs and the airline, observers argued. It&#8217;s worth noting Spirit&#8217;s problems stem from having to ground several Airbus planes due to turbofan engine problems.
Bank of America Securities analysts noted in January that Spirit&#8217;s ongoing engine repairs hurt &#8220;the traditional ultra-low cost business model.&#8221;
Dania Beach, Florida-based Spirit also attributed its financial struggles to an &#8220;intense competitive battle&#8221; for price-sensitive leisure travelers, as well as an oversupply of airline seats in the domestic market.
&#8220;You can think [sic] Biden and his FTC crew for this. Way to go Joe!&#8221; a social media user posted.
Precedent shows that a deal with JetBlue wouldn&#8217;t have been a safety net for Spirit as most major airline mergers lead to job losses, regardless of whether the target is a distressed asset.
See Also: <a href="https://www.benzinga.com/markets/equities/24/10/41178053/spirit-airlines-engages-in-bankruptcy-talks-amid-financial-struggles-report">Spirit Airlines Engages In Bankruptcy Talks Amid Financial Struggles</a>
The scale and impact can vary depending on several factors such as the size of the merger. Here are a few examples of job losses from major mergers:
<ul>
<li>American Airlines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) and US Airways: After the 2013 merger, there were several thousand job losses. Estimates ranged from 1,500 to 3,000 positions cut. </li>
<li>United Airlines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) and Continental Airlines: The 2010 merger resulted in the elimination of roughly 1,500 to 2,000 job losses. These cuts were primarily due to redundant corporate and administrative positions. </li>
<li>Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) and Northwest Airlines: While the 2008 merger helped the combined airline grow, but also led to an estimated 2,000 to 3,000 job losses.</li>
</ul>
Airline mergers often lead to route and capacity optimization, reducing staffing needs in less profitable areas. Cost synergies, like lowering fuel and labor costs, can prompt additional cuts as well. Fleet consolidation may phase out older aircraft, affecting technical staff.
Union agreements and labor contracts might also lead to layoffs as the merged airline harmonizes pay and benefits across the workforce.
While not all mergers result in severe job losses, neither do bankruptcies. Jobs can sometimes be saved when a company files for Chapter 11, since the process allows a company to reorganize its debts and operations while continuing to operate, giving it a chance to become financially viable. 
During this process, the company may restructure contracts, renegotiate with creditors and streamline operations, which can help preserve jobs that would otherwise be lost in a complete liquidation. While layoffs may occur, Chapter 11 provides more opportunities for the business to recover and protect a portion of its workforce.
Spirit&#8217;s debt load hovers around $3.3 billion, per the Wall Street Journal.
Recent airline bankruptcies include Virgin America and Monarch Airlines, both in 2017; WOW Air in 2019; and LATAM Airlines Group SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTM#NYSE">LTM</a>) in 2020. LATAM emerged from bankruptcy in 2022 stronger and is now larger and leaner, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41123208/latam-airlines-earnings-will-remain-higher-for-longer-says-bullish-analyst">according to Morgan Stanley analysts</a>.
What&#8217;s Next: It remains to be seen whether Spirit will follow through with bankruptcy. At last check Friday, Spirit stock is trading 26.28% lower at $1.66, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
The stock has lost more than 85% of its value in 2024. 
Now Read: 
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</ul>
Photo: Shutterstock

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Spirit Airlines Bankruptcy Chatter Has Critics Blaming Biden: Here's What History Shows About Carrier Mergers

<h3>Gainers</h3>
<ul>
<li>noco-noco (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCNC#NASDAQ">NCNC</a>) shares rose 39.8% to $0.19 during Friday's regular session. The company's market cap stands at $32.9 million. </li>
<li>Apogee Enterprises (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APOG#NASDAQ">APOG</a>) shares rose 25.43% to $85.84. The company's market cap stands at $1.8 billion. As per the press release, Q2 earnings came out today. </li>
<li>Amprius Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMPX#NYSE">AMPX</a>) shares rose 22.64% to $1.3. The market value of their outstanding shares is at $144.3 million. </li>
<li>Momentus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNTS#NASDAQ">MNTS</a>) shares moved upwards by 19.81% to $0.45. The company's market cap stands at $11.4 million. </li>
<li>Frontier Group Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULCC#NASDAQ">ULCC</a>) stock moved upwards by 17.53% to $5.87. The company's market cap stands at $1.3 billion. </li>
<li>JetBlue Airways (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) shares increased by 16.04% to $7.42. The company's market cap stands at $2.5 billion. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Spirit Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) shares decreased by 25.9% to $1.66 during Friday's regular session. The market value of their outstanding shares is at $181.8 million. </li>
<li>Safe Pro Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPAI#NASDAQ">SPAI</a>) shares declined by 23.08% to $2.0. The market value of their outstanding shares is at $27.3 million. </li>
<li>Laser Photonics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LASE#NASDAQ">LASE</a>) shares declined by 19.29% to $7.41. The company's market cap stands at $113.1 million. </li>
<li>AgEagle Aerial Sys (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/UAVS#AMEX">UAVS</a>) stock declined by 18.52% to $0.1. The market value of their outstanding shares is at $1.4 million. </li>
<li>iPower (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IPW#NASDAQ">IPW</a>) shares declined by 13.71% to $1.79. The company's market cap stands at $56.4 million. </li>
<li>Graphex Gr (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/GRFX#AMEX">GRFX</a>) stock decreased by 12.95% to $0.28. The company's market cap stands at $13.8 million. 
See Also: <a href="http://www.benzinga.com/money/best-industrials-stocks/" title="www.benzinga.com/money/best-industrials-stocks/">www.benzinga.com/money/best-industrials-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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12 Industrials Stocks Moving In Friday's Intraday Session

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 100 points on Friday.
The Dow traded up 0.32% to 42,145.03 while the NASDAQ rose 0.76% to 18,053.79. The S&amp;P 500 also rose, gaining, 0.45% to 5,725.76.
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/10/41183602/how-to-earn-500-a-month-from-phillips-66-stock-ahead-of-q3-earnings">How To Earn $500 A Month From Phillips 66 Stock Ahead Of Q3 Earnings</a>
Leading and Lagging Sectors Consumer discretionary shares jumped by 0.7% on Friday.
In trading on Friday, real estate shares dipped by 1.6%.
Top Headline
The U.S. economy added 254,000 jobs in September, compared to a revised 159,000 gain in August, and topping market estimates of 147,000. The unemployment rate declined to 4.1% in September from 4.2% in the previous month.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Phoenix Motor Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEV#NASDAQ">PEV</a>) shares shot up 127% to $0.79 after the company reported a substantial increase in the first-quarter results.</li>
<li>Shares of Apogee Enterprises, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APOG#NASDAQ">APOG</a>) got a boost, surging 24% to $84.76 after the company reported better-than-expected second-quarter financial results and raised its FY25 adjusted EPS guidance above estimates.</li>
<li>Beneficient (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BENF#NASDAQ">BENF</a>) shares were also up, gaining 68% to $1.99 after the company announced its subsidiary, Beneficient Company Holdings, consummated a previously announced transaction pursuant to which approximately $126 million of its preferred equity was redesignated as non-redeemable.</li>
</ul>
Equities Trading DOWN
<ul>
<li>AMTD Digital Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HKD#NYSE">HKD</a>) shares dropped 17% to $4.3411.</li>
<li>Shares of ZIM Integrated Shipping Services Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIM#NYSE">ZIM</a>) were down 13% to $18.93.</li>
<li>Spirit Airlines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) was down, falling 27% to $1.63 following a report suggesting that the company is exploring the potential of filing for bankruptcy.</li>
</ul>
Commodities In commodity news, oil traded up 1.2% to $74.62 while gold traded down 0.4% at $2,667.50.
Silver traded down 1.3% to $32.055 on Friday, while copper rose 0.4% to $4.5720.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.48%, Germany's DAX rose 0.64% and France's CAC 40 climbed 1.15%. Spain's IBEX 35 Index rose 0.24%, while London's FTSE 100 rose 0.21%.
The S&amp;P Global UK construction PMI jumped to 57.2 in September compared to 53.6 in the previous month, while France construction PMI declined to 37.9 in September from 40.1 in the earlier month. The HCOB Eurozone construction PMI climbed to 42.1 in September versus 41.4 in the prior two months.
Asia Pacific Markets
Asian markets closed mixed on Friday, with Japan's Nikkei 225 gaining 0.22%, Hong Kong's Hang Seng Index gaining 2.82% and India's BSE Sensex dipping 0.98%.
The HSBC India services PMI was revised downward to 57.7 in September versus a preliminary reading of 58.9. The S&amp;P Global Hong Kong SAR PMI surged to 50.0 in September compared to August's reading of 49.4.
Economics
The U.S. economy added 254,000 jobs in September, compared to a revised 159,000 gain in August, and topping market estimates of 147,000. The unemployment rate declined to 4.1% in September from 4.2% in the previous month.
Now Read This:
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</ul>

Crude Oil Gains 1%; Spirit Airlines Shares Plunge

Spirit Airlines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) shares are moving lower on Friday following a report suggesting that the company is exploring the possibility of <a href="https://www.benzinga.com//node/41182466">filing for bankruptcy</a>.
The Details: According to the <a href="https://www.wsj.com/articles/spirit-airlines-in-talks-with-bondholders-over-terms-of-potential-bankruptcy-filing-fdd23fae">Wall Street Journal</a>, Spirit has been in talks with bondholders and creditors regarding support for a Chapter 11 bankruptcy.
This comes after a federal district court judge blocked the company&#8217;s merger with JetBlue back in January. The two airlines have abandoned the potential merger, citing that they likely could not overcome legal and regulatory challenges.
Following the ruling, Spirit has begun shrinking its operations, cutting dozens of routes for November and December. Also, the airline plans to shrink its capacity by almost 20% during the fourth quarter.
Spirit has reported losses in almost every quarter since February 2020, per data from<a href="https://www.benzinga.com/pro/"> Benzinga Pro</a>. For the 2024 fiscal-year second quarter, the company reported an adjusted net loss of $157.9 million.
Is Spirit A Good Stock To Buy?
An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages &#8211; like <a href="https://www.benzinga.com/quote/SAVE">Spirit Airlines</a>&#8216;s page for example &#8211; there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.
These are known as capital allocation programs. Spirit Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's <a href="https://www.benzinga.com/calendars/dividends">dividend calendar</a> for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.
For example, if you're looking to earn an annualized return of 14.96%, you'll need to buy a share of XAI Octagon FR &amp; Alt Inc by the Oct. 15, 2024. Once done, you can expect to receive a nominal payout of $0.09 on Nov. 1, 2024.
Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on <a href="https://www.benzinga.com/quote/SAVE">Spirit Airlines</a> will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.
Related Link: <a href="https://www.benzinga.com/news/24/10/41124443/whats-going-on-with-delta-united-and-spirit-airlines-shares-tuesday">What&#8217;s Going On With Delta, United and Spirit Airlines Shares Tuesday?</a>
SAVE Price Action: At the time of writing, Spirit stock is trading 26.8% lower at $1.63, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: Photo via Wikimedia Commons

What's Going On With Spirit Airlines Stock Friday?

Investors with significant funds have taken a bearish position in Spirit Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>), a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in SAVE usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 12 options transactions for Spirit Airlines. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 25% being bullish and 50% bearish. Of all the options we discovered, 11 are puts, valued at $1,529,420, and there was a single call, worth $25,200.
<h3>Expected Price Movements</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $1.0 to $12.5 for Spirit Airlines over the recent three months. 
<h3>Insights into Volume &amp; Open Interest</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Spirit Airlines's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Spirit Airlines's significant trades, within a strike price range of $1.0 to $12.5, over the past month.
<h3>Spirit Airlines Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728051367_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SAVE</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$1.0</td>
<td>$0.8</td>
<td>$1.0</td>
<td>$2.00</td>
<td>$470.4K</td>
<td>27.1K</td>
<td>800</td>
</tr>
<tr>
<td>SAVE</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$0.84</td>
<td>$0.5</td>
<td>$0.78</td>
<td>$1.50</td>
<td>$281.1K</td>
<td>15.7K</td>
<td>3.6K</td>
</tr>
<tr>
<td>SAVE</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$13.45</td>
<td>$9.2</td>
<td>$11.5</td>
<td>$12.50</td>
<td>$172.5K</td>
<td>393</td>
<td>150</td>
</tr>
<tr>
<td>SAVE</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$0.61</td>
<td>$0.55</td>
<td>$0.61</td>
<td>$1.50</td>
<td>$152.5K</td>
<td>9.1K</td>
<td>2.7K</td>
</tr>
<tr>
<td>SAVE</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>06/20/25</td>
<td>$0.69</td>
<td>$0.4</td>
<td>$0.55</td>
<td>$1.00</td>
<td>$99.7K</td>
<td>794</td>
<td>2.2K</td>
</tr>
</tbody>
</table>

<h3>About Spirit Airlines</h3>
Spirit Airlines Inc serves the United States, Latin America, and Caribbean as an airline operator. It primarily offers customers unbundled base fares to strip out any unneeded travel amenities. If needed, a customer can elect for additional options at an extra charge. Flight crews are entirely interchangeable across all aircraft, and maintenance and other support services are simplified due to not having an overly complex fleet. The company has one operating segment, air transportation, owing to its system wide route structure. It may decide to expand its network if a market is underserved or overpriced. The majority of revenue is derived from the United States.
<h3>Current Position of Spirit Airlines</h3>
<ul>
<li>With a volume of 14,670,477, the price of SAVE is down -25.89% at $1.66. </li>
<li>RSI indicators hint that the underlying stock may be oversold.</li>
<li>Next earnings are expected to be released in 20 days.</li>
</ul>
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Spirit Airlines, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Options

Spirit Airlines's Options Frenzy: What You Need to Know

U.S. stocks traded lower this morning, with the Dow Jones index gaining more than 200 points on Friday.
Following the market opening Friday, the Dow traded up 0.48% to 42,212.69 while the NASDAQ rose 0.65% to 18,034.35. The S&amp;P 500 also rose, gaining, 0.50% to 5,728.62.
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/10/41183602/how-to-earn-500-a-month-from-phillips-66-stock-ahead-of-q3-earnings">How To Earn $500 A Month From Phillips 66 Stock Ahead Of Q3 Earnings</a>
Leading and Lagging Sectors Consumer discretionary shares jumped by 1.2% on Friday.
In trading on Friday, real estate shares dipped by 0.9%.
Top Headline
The U.S. economy added 254,000 jobs in September, compared to a revised 159,000 gain in August, and topping market estimates of 147,000. The unemployment rate declined to 4.1% in September from 4.2% in the previous month.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Phoenix Motor Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEV#NASDAQ">PEV</a>) shares shot up 118% to $0.7536 after the company reported a substantial increase in the first-quarter results.</li>
<li>Shares of Forward Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FORD#NASDAQ">FORD</a>) got a boost, surging 65% to $5.84.</li>
<li>Beneficient (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BENF#NASDAQ">BENF</a>) shares were also up, gaining 55% to $1.85 after the company announced its subsidiary, Beneficient Company Holdings, consummated a previously announced transaction pursuant to which approximately $126 million of its preferred equity was redesignated as non-redeemable.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Color Star Technology Co., Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADD#NASDAQ">ADD</a>) shares dropped 28% to $0.3237 after dipping around 57% on Thursday. Color Star Technology recently regained compliance with Nasdaq Minimum Bid Price Rule after maintaining $1.00 per share for 10 consecutive days.</li>
<li>Shares of Upexi, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPXI#NASDAQ">UPXI</a>) were down 27% to $2.34.</li>
<li>Spirit Airlines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) was down, falling 27% to $1.63 following a report suggesting that the company is exploring the potential of filing for bankruptcy.</li>
</ul>
Commodities In commodity news, oil traded up 0.9% to $74.34 while gold traded down 0.4% at $2,669.20.
Silver traded down 0.6% to $32.255 on Friday, while copper rose 1.1% to $4.6025.
Euro zone
European shares were mostly lower today. The eurozone's STOXX 600 rose 0.4%, Germany's DAX rose 0.6% and France's CAC 40 climbed 1.1%. Spain's IBEX 35 Index rose 0.1%, while London's FTSE 100 rose 0.1%.
The S&amp;P Global UK construction PMI jumped to 57.2 in September compared to 53.6 in the previous month, while France construction PMI declined to 37.9 in September from 40.1 in the earlier month. The HCOB Eurozone construction PMI climbed to 42.1 in September versus 41.4 in the prior two months.
Asia Pacific Markets
Asian markets closed mixed on Friday, with Japan's Nikkei 225 gaining 0.22%, Hong Kong's Hang Seng Index gaining 2.82% and India's BSE Sensex dipping 0.98%.
The HSBC India services PMI was revised downward to 57.7 in September versus a preliminary reading of 58.9. The S&amp;P Global Hong Kong SAR PMI surged to 50.0 in September compared to August's reading of 49.4.
Economics
The U.S. economy added 254,000 jobs in September, compared to a revised 159,000 gain in August, and topping market estimates of 147,000. The unemployment rate declined to 4.1% in September from 4.2% in the previous month.
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FORD

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Dow Jumps 200 Points; US Payrolls Top Expectations

Market Summary

Benzinga Market Summary: Spirit Airlines Considers Bankruptcy, Strong September Unemployment Rate And Nonfarm Payrolls Data, Dockworker Strike Suspended After Tentative Offer

SAVE: -44% &#x7C; <a href="https://www.benzinga.com//node/41183035">Spirit Airlines shares are trading lower following a report suggesting that the company is exploring the potential of filing for bankruptcy.</a>
&nbsp;
BENF: 64% &#x7C; <a href="https://www.benzinga.com//node/41183001">Beneficient shares are trading higher after the company announced its subsidiary, Beneficient Company Holdings, consummated a previously announced transaction pursuant to which approximately $126 million of its preferred equity was redesignated as non-redeemable.</a>
&nbsp;
RIVN: -9% &#x7C; <a href="https://www.benzinga.com//node/41181423">Rivian shares are trading lower after the company lowered its annual production guidance due to supply shortage of shared component on the R1 and RCV platforms.Rivian shares are trading lower after the company lowered its annual production guidance due to supply shortage of shared component on the R1 and RCV platforms.</a>

Market-Moving News for October 4th

<h3>Gainers</h3>
<ul>
<li>noco-noco (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCNC#NASDAQ">NCNC</a>) stock moved upwards by 101.7% to $0.27 during Friday's pre-market session. The company's market cap stands at $47.4 million. </li>
<li>Nuburu (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BURU#AMEX">BURU</a>) shares moved upwards by 18.24% to $0.53. The market value of their outstanding shares is at $2.2 million. </li>
<li>Alpha Pro Tech (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/APT#AMEX">APT</a>) shares moved upwards by 9.26% to $6.25. The company's market cap stands at $69.8 million. </li>
<li>Apogee Enterprises (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APOG#NASDAQ">APOG</a>) stock rose 8.81% to $74.46. The company's market cap stands at $1.6 billion. The company's, Q2 earnings came out today. </li>
<li>Zeo Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZEO#NASDAQ">ZEO</a>) stock moved upwards by 8.6% to $1.89. The company's market cap stands at $10.9 million. </li>
<li>Redwire (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDW#NYSE">RDW</a>) shares rose 8.23% to $7.23. The market value of their outstanding shares is at $481.0 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Spirit Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) shares fell 33.9% to $1.48 during Friday's pre-market session. The company's market cap stands at $162.0 million. </li>
<li>AgEagle Aerial Sys (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/UAVS#AMEX">UAVS</a>) shares declined by 12.1% to $0.11. The company's market cap stands at $1.6 million. </li>
<li>ZIM Integrated Shipping (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIM#NYSE">ZIM</a>) shares decreased by 10.02% to $19.5. The company's market cap stands at $2.3 billion. </li>
<li>Stem (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STEM#NYSE">STEM</a>) shares decreased by 9.03% to $0.44. The market value of their outstanding shares is at $70.5 million. </li>
<li>Fusion Fuel Green (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTOO#NASDAQ">HTOO</a>) shares fell 6.1% to $0.51. The company's market cap stands at $9.8 million. </li>
<li>Pineapple Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEGY#NASDAQ">PEGY</a>) stock fell 5.76% to $0.13. The company's market cap stands at $1.1 million. 
See Also: <a href="http://www.benzinga.com/money/best-industrials-stocks/" title="www.benzinga.com/money/best-industrials-stocks/">www.benzinga.com/money/best-industrials-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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STEM

12 Industrials Stocks Moving In Friday's Pre-Market Session

Spirit Airlines shares are trading lower following a report suggesting that the company is exploring the potential of filing for bankruptcy.

Spirit Airlines Inc. (NYSE:&nbsp;<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) experienced a significant drop of over 40% in pre-market trading on Friday. This decline follows reports of the airline engaging in bankruptcy talks with bondholders.
At the time of writing, it was trading at $1.35&nbsp;while it closed at $2.24 on Wednesday, as per <a href="https://pro.benzinga.com">Benzinga Pro.</a>
The budget airline is contemplating a <a href="https://www.benzinga.com/markets/equities/24/10/41178053/spirit-airlines-engages-in-bankruptcy-talks-amid-financial-struggles-report">Chapter 11 filing</a> as it faces severe financial difficulties. The discussions primarily aim to secure bondholder and creditor support for a potential bankruptcy filing, according to a report by The Wall Street Journal on Thursday.
Spirit&rsquo;s financial strain is largely due to a $3.3 billion debt, including over $1.1 billion in secured bonds that mature within a year. The company must address these notes by Oct. 21 to meet its credit card processor&rsquo;s deadline.
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/41086177/amazon-ceo-andy-jassy-faces-employee-revolt-over-full-time-return-to-office-mandate-73-consider-?itm_source=parsely-api" rel="noreferrer noopener" target="_blank">Amazon CEO Andy Jassy Faces Employee Revolt Over Full-Time Return To Office Mandate, 73% Consider Quitting: Survey (Updated)</a>
CEO Ted Christie acknowledged in August that the airline is actively negotiating with bondholders&rsquo; advisers to manage these debts. He emphasized the priority of securing a favorable outcome for the business while enhancing performance and guest experience.
Spirit&rsquo;s financial troubles have been worsened by its failure to achieve annual profitability since the COVID-19 pandemic. The airline plans to cut capacity by nearly 20% in the fourth quarter, further impacted by the recall of Pratt &amp; Whitney engines, which has grounded part of its fleet and led to pilot furloughs.
In March, Spirit scraped off its <a href="https://www.benzinga.com/news/24/03/37455281/jetblue-spirit-airlines-shares-are-moving-monday-whats-going-on">$3.8 billion merger agreement</a> with JetBlue Airways Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>). After the talks about Spirit&rsquo;s bankruptcy, JetBlue was up by 5.16%,
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/41087674/openais-searchgpt-set-to-disrupt-googles-search-empire-as-former-engineer-sounds-alarm-on-deteriorat?itm_source=parsely-api" rel="noreferrer noopener" target="_blank">OpenAI&rsquo;s SearchGPT Set To Disrupt Google&rsquo;s Search Empire As Former Engineer Sounds Alarm On Deteriorating User Experience Amid Rising Competition</a></li>
</ul>
Image by Tom&aacute;s Del Coro via Wikimedia Commons
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" rel="noreferrer noopener" target="_blank">Pooja Rajkumari</a>

Pre-Market Outlook

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Press Releases

Spirit Airlines Announces Executive Leadership Updates

Spirit Airlines Celebrates 25 Years of Soaring at Los Angeles International Airport

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Go Big or Go Comfy: Spirit Airlines to Offer Unmatched Value with New Travel Options and Transformed Guest Experience

Spirit Airlines Reports Second Quarter 2024 Results

Say 'Yellow' to Spirit Airlines' New Travel Options and Reimagined Look

Spirit Airlines Celebrates Launch of Newly Transformed Guest Experience with 'More Fly' Giveaway

Spirit Airlines Unveils its First-Ever PiNK Uniform Collection in Honor of Breast Cancer Awareness Month

Spirit Airlines Launches its Inaugural Alabama Service and Birmingham's Only Nonstop Flight to Fort Lauderdale

Spirit Airlines Brings on Frankie Muniz to Promote its new #NotInTheMiddle 'Go Comfy' Travel Option

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