From Nasdaq:

Spirit (SAVE) shares soared 17.2% to close at $6.68, backed by solid volume and more shares changing hands than usual. This followed disagreement by Spirit Airlines with the U.S. District Court’s decision to block the deal with JetBlue Airways. They believe combining provides the best opportunity to increase competition and choice.

Spirit is expected to post a quarterly loss of $1.59 per share, a year-over-year change of -1425%, and revenues of $1.3 billion, down 6.2% in the year-ago quarter. The consensus EPS estimate for the quarter has been revised 2.9% higher over the last 30 days to the current level, usually translating into price appreciation.

Southwest Airlines (LUV) shares closed 0.1% lower at $29.99. For Southwest, the consensus EPS estimate for the upcoming report has changed +14.6% over the past month to $0.11, with a Zacks Rank of #3 (Hold). This represents a change of +129% from what the company reported a year ago.



Read more: Strength Seen in Spirit (SAVE): Can Its 17.2% Jump Turn into More Strength?