JetBlue Falls, Lennar Rises, Surgery Partners Slides After Rejecting Bain Takeover
On this episode of Stock Movers:
- JetBlue (JBLU) shares are lower on plans to accelerate its cost reductions by eliminating some flights, pausing retrofits and parking some jets due to weaker-than-expected demand for travel. This is according to an internal memo, which CNBC reported on earlier.
- Lennar (LEN) shares rise after a miss on the homebuilder’s new orders outlook was tempered by better-than-expected gross margins, which RBC Capital Markets said should reassure investors.
- Surgery Partners (SGRY) shares slide after the company turned down a buyout proposal from Bain Capital, with its independent committee concluding that its long-term value as a standalone public company outweighs Bain’s offer.
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