Hey there, finance folks! Let's catch
you up on the stock market scene from Friday. The good news is, stocks were on the upswing, and the S&P 500 was eyeing a record closing high. And guess who's stealing the spotlight once again? Yup, tech stocks are leading the charge.
Now, let's dive into the nitty-gritty of Friday's stock movements:
First off, iRobot had a bit of a tough day, to say the least. Their shares took a nosedive, plummeting by a whopping 28%. Why, you ask? Well, The Wall Street Journal spilled the beans, reporting that the European Commission is planning to put the brakes on Amazon.com's plan to snatch up iRobot. Word is, in a meeting on Thursday, the European Commission told Amazon that their grand plan is likely a no-go. Amazon had its eyes set on iRobot for a cool $1.7 billion back in August 2022. Meanwhile, Amazon's own shares managed to climb a bit.
On the flip side, Spirit Airlines had a reason to smile on Friday. Their stocks were on the rise, jumping up by 23%. The budget carrier, despite facing some hurdles, shared some good news. They're expecting fourth-quarter revenue to hit the high end of their initial expectations, and holiday bookings were looking pretty robust. This comes after a bit of a rough patch for Spirit – a recent report from The Journal hinted at some restructuring talks following the fallout of their merger plans with JetBlue Airways. But fear not, a Spirit spokesperson clarified later that there's no official restructuring plan in the works. Just a heads up, Spirit's shares took a hit earlier in the week, dropping 47% on Tuesday and 22% on Wednesday.
That's the stock market update for Friday – a mix of ups and downs, surprises, and a touch of drama. Stay tuned for more twists and turns in the financial rollercoaster!
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