By Connor Hart
Spirit Airlines is preparing to file for bankruptcy protection, The Wall Street Journal reported, citing people familiar with the matter. The filing, which could happen within weeks, comes after merger talks with Frontier Airlines broke down. The Florida-based budget airline has struggled with financial pressuring and looming debt maturities. Shares plummet 45%, to $1.75, in after-hours trading.
Rocket Lab logged higher-than-expected revenue in the third quarter, and its fourth-quarter outlook beat analyst expectations. The aerospace company said revenue surged 55% to $104.8 million, ahead of the $102.3 that Wall Street had forecast. For the current quarter, the company guided for revenue between $125 million and $135 million, ahead of the $121.9 million expected by analysts, according to FactSet. Shares rise 24%, to $18.22, in postmarket trading.
Progyny said consumer habits changed during the third quarter, prompting it to cut to its full-year outlook and guide for a weaker-than-expected fourth quarter. The New York company, which handles fertility care insurance coverage for employers, said users took longer than usual to progress through their treatment, resulting in fewer overall treatments and lower-than-expected revenue and profitability in the third quarter. Its fourth-quarter revenue outlook of between $266.2 million and $281.2 million missed the $292.7 million that analysts projected. The company cut its full-year revenue outlook to between $1.14 billion and $1.15 billion from between $1.17 billion and $1.20 billion. Shares fall 8%, to $15.80, in after-hours trading.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
November 12, 2024 18:44 ET (23:44 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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