In low Spirits: The Tipline for 6 December 2023

JetBlue’s lawyers had a lot to smile about during closing arguments. The judge presiding over the Department of Justice’s challenge to JetBlue/Spirit said he was “having problems" with blocking a deal in such a dynamic industry. But investors seemed less enthused. JetBlue’s stock dropped nearly 4% on Tuesday while Spirit’s fell more than 12% to $13.67 a share – a fraction of the $33.50 a share JetBlue committed to paying last June.

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