Lakeway, TX -- (SBWIRE) -- 02/19/2013 -- vbtrendreport.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-
Spirit Airlines Incorporated (NASDAQ:SAVE) shares were trading up by $1.19 or 6.16% to $20.57 in the afternoon session after the company posted its fourth quarterly results surpassing analyst estimates.
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The company posted an 18% fall in its fourth quarter earnings of $19.6 million, or 27 cents per share in comparison to last year as Hurricane Sandy kept some passengers away and costs rose as it grew capacity.
Revenue surged 20% to $328.3 million even after a $25 million hit from Superstorm Sandy.
FactSet analyst expected profit of 24 cents per share on revenue of $325.5 million.
Revenue for each seat flown one mile, fell to 11.1 cents, a drop of 6.6% because of Sandy and longer average flights.
Passengers paid 9% more, an average of $52.73 in non-ticket revenue per flight segment, and the average ticket revenue per segment fell 8.6% to $71.30.
For the year Spirit accounted 42% rise in its earnings of $108.5 million. Revenue jumped 23% to $1.32 billion.
The Dow Chemical Company (NYSE:DOW) on Monday elected Ajay Banga, the MasterCard Inc. President and CEO to its board of directors.
Is DOW Ready To Jump Again After The Solid Momentum? Get Free Trend Analysis Her
Praising his experience in international markets, finance, and consumer businesses, Dow elected Banga as the eleventh member of Dow Chemical's board of directors.
He has been president of MasterCard since August 2009 and CEO since July 2010. Before that, Banga was the CEO of Citigroup Inc.'s Asia Pacific business.
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