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JetBlue Attracts Carl Icahn

JetBlue Attracts Carl Icahn

And, Tripadvisor's special committee.

February 13, 2024

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Photo by Sachin Amjhad on Unsplash

Today is Tuesday, February 13, 2024.

The Early Bird Index today is 68.66.

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JetBlue Attracts Carl Icahn

JetBlue Airways (Nasdaq: JBLU) jumped 16.31% in after-hours trading on Monday after the famous businessman and investor Carl Icahn disclosed a sizeable stake in the company.

Details: Icahn took a 9.91% stake in JetBlue, owning 33.6 million shares in the company. In a regulatory filing, Icahn noted that the stock was “undervalued and represented an attractive investment opportunity.” He is also having discussions with JetBlue regarding potential board seats.

Background: The decision for Icahn to buy a stake in JetBlue comes after the company’s deal to merge with Spirit Airlines (NYSE: SAVE) collapsed. JetBlue’s stock is down 28% in the last 12 months.

Final Thoughts: Investors hope that Icahn can pressure JetBlue to make some positive changes to turn the company around.

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Notables

Notable Earnings Today: Airbnb (Nasdaq: ABNB), Datadog (Nasdaq: DDOG), Zillow (Naasdaq: ZG), Coca-Cola (NYSE: KO), Robinhood Markets (Nasdaq: HOOD), Shopify (NYSE: SHOP), Lyft (Nasdaq: LYFT), Krispy Kreme (Nasdaq: DNUT), GoDaddy (NYSE: GDDY), Biogen (Nasdaq: BIIB), Upstart (Nasdaq: UPST), Marriott (Nasdaq: MAR), MGM Resorts (NYSE: MGM), Hasbro (Nasdaq: HAS), Instacart (Nasdaq: CART), American International Group (NYS: AIG), Restaurant Brands International (NYSE: QSR), AutoNation (NYSE: AN), Topgolf Callaway Brands (NYSE: MODG), EQT Corp. (NYSE: EQT), Moody's (NYSE: MCO), Akamai Technologies (Nasdaq: AKAM), Angi (Nasdaq: ANGI), Comstock (NYSE: CRK), Corsair Gaming (Nasdaq: CRSR), DaVita (NYSE: DVA), Denny's (Nasdaq: DENN), Ecolab (NYSE: ECL), Encore Wire (Nasdaq Global Select: WIRE), Entegris (Nasdaq: ENTG), Franklin Electric (Nasdaq: FELE), GlobalFoundries (Nasdaq: GFS), GXO Logistics (NYSE: GXO), Hawaiian Electric (NYSE: HE), Herc Holdings (NYSE: HRI), Howmet Aerospace (NYSE: HWM), IAC Inc. (Nasdaq: IAC), Incyte (Nasdaq: INCY), InMode (Nasdaq: INMD), Invitation Homes (NYSE: INVH), Kratos Defense and Security (Nasdaq: KTOS), Leidos (NYSE: LDOS),Molson Coors Brewing (NYSE: TAP), Primerica (NYSE: PRI), SiTime (Nasdaq: SITM), STAG Industrial (NYSE: STAG), TPG Inc. (Nasdaq: TPG), TransUnion (NYSE: TRU), Watsco (NYSE: WSO), Welltower (NYSE: WELL), Wesco (NYSE: WCC), WK Kellogg (NYSE: KLG), Zoetis (NYSE: ZTS).

Notable IPOs Today: Calamos Alternative Nasdaq & Bond ETF (Nasdaq: CANQ).

Notable Equity Crowdfunding Campaigns Ending Today: Aerial Resupply Coffee (Wefunder), Evolution Nutrition (StartEngine), LV3 (StartEngine).

Notable Economic Events Today: Consumer Price Index (8:30 a.m. ET), API Weekly Crude Oil Stock (4:30 p.m. ET).

Tripadvisor's Special Committee

Shares of Tripadvisor (Nasdaq: TRIP) surged by 13.63% in after-hours trading on Monday after the company formed a special committee to review potential proposals regarding a merger with Liberty Tripadvisor.

Details: While Tripadvisor will look into a potential deal, the company said that there is no guarantee that there will be one.

Stock Price: Tripadvisor’s stock was up just 6% in the last 12 months before the announcement.

Final Thoughts: After a year of mixed financial results, Tripadvisor is trying to grow its stock price. It makes sense to explore a potential deal.