Hawaiian Holdings Soars on Acquisition by Alaska Air Group (+182%)

Shares of Hawaiian Holdings, the parent company of Hawaiian Airlines, surged after Alaska Air Group announced its intention to acquire the company for $1.9 billion, including debt. Despite trading below the offer price, the acquisition represents a significant premium over recent trading levels. Hawaiian Holdings had faced challenges such as the Maui wildfires, high fuel costs, and jet engine recall issues, which contributed to a 52.6% decline in its shares this year. The deal is expected to expand networks and offer more choices to passengers, but regulatory approval remains uncertain.

Spotify's Strategic Layoffs Lead to Stock Price Increase (+7%)

Spotify's shares rose by 8.1% following the announcement of approximately 1,500 job cuts, as part of the company's efforts to accelerate profitability. Despite the layoffs, Spotify's stock has seen a significant increase this year, more than doubling in value. The job cuts, which represent the third round of layoffs this year, are expected to result in charges of up to $157 million in the final quarter.

Science Applications International Corp Raises Fiscal 2024 Outlook (+7%)

Science Applications International Corp (SAIC) saw its stock jump 8% after the company raised its full-year outlook for fiscal 2024. The increase in guidance follows a surprise gain in fiscal third-quarter earnings, with adjusted earnings rising 19% to $2.27 a share. The company now expects adjusted earnings between $7.70 and $7.90 per share for fiscal 2024, with revenue projections between $7.33 billion and $7.35 billion.

Uber Technologies Set to Join S&P 500, Shares Climb (+4%)

Uber Technologies' stock climbed more than 4% after the announcement that the company will be included in the S&P 500 index starting December 18. The inclusion in the benchmark index is seen as a milestone for the San Francisco-based tech company, which has significantly improved its profitability in recent times, posting a net profit of $221 million in the third quarter.


Alaska Air Group Downgraded by Deutsche Bank Amid Acquisition Announcement (-15%)

Alaska Air Group's stock experienced a downturn following Deutsche Bank's downgrade from 'Buy' to 'Hold' and a price target adjustment from $55 to $44. The downgrade comes as Alaska Air announced a $1.9 billion acquisition of Hawaiian Holdings, which includes a significant equity and debt component. The market's reaction reflects concerns over the deal's regulatory approval and its impact on Alaska Air's financials.

Intel Corp Partners with Siemens on Semiconductor Manufacturing (-4%)

Intel Corp announced a memorandum of understanding with Siemens to collaborate on the digitalization and sustainability of microelectronic manufacturing. The partnership aims to advance manufacturing efforts, factory operations, cybersecurity, and support a resilient global industrial ecosystem. The collaboration highlights the importance of semiconductors in modern economies and the need for rapid advancement in semiconductor production.