US Stock Market News | Spirit Airlines plunges more than 8.7% after being downgraded to "Sell" by TD
On Wednesday, Spirit Airlines' stock price fell, with the stock dropping over 8.7% to $2.885 as of the time of publication. TD downgraded the stock to "sell" with a target price of $2. The company revised down its second-quarter revenue expectations, citing lower-than-expected non-ticket revenue. The current estimate for second-quarter revenue is $1.28 billion, down from the previous estimate of $1.32 billion to $1.34 billion, while analysts had expected $1.32 billion. Spirit Airlines also expects an operating loss in the second quarter ranging from $160 million to $173 million, compared to the previous forecast of a loss between $121 million and $145 million
According to the Zhitong Finance and Economics APP, on Wednesday, Spirit Airlines (SAVE.US) saw its stock price decline, with the stock falling by over 8.7% as of the time of publication, closing at $2.885. TD downgraded the stock to "sell" with a target price of $2. The company revised down its second-quarter revenue expectations, citing lower-than-expected non-ticket revenue. The current estimate for second-quarter revenue is $1.28 billion, down from the previous estimate of $1.32 billion to $1.34 billion, while analysts had expected $1.32 billion. Spirit Airlines also expects an operating loss in the second quarter ranging from $160 million to $173 million, compared to the previous forecast of a loss between $121 million and $145 million