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• JetBlue Scraps Spirit Merger
  JetBlue and Spirit Airlines announced they are ...
  JetBlue and Spirit Airlines announced they are terminating their $3.8B merger, citing the unlikelihood of meeting legal and regulatory approvals by the agreement's July deadline. The news follows a federal judge's block in January ruling the merger would have driven up fares for price-conscious travelers and hurt competition. The airlines appealed the decision, and a hearing had been set for June. JetBlue will pay Spirit a $69M termination fee (see 101). 
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• ☕️What Else is Brewing Tuesday Morning
  SCOTUS rules states can’t kick Trump off primary ballots. The...
  SCOTUS rules states can’t kick Trump off primary ballots. The US Supreme Court overturned a Colorado court’s decision that former President Donald Trump was ineligible for the state’s presidential primary, ruling that individual states don’t have the power to keep candidates off the ballot under a constitutional clause barring insurrectionists from holding office. The ruling effectively shuts down efforts to keep Trump off several state ballots just as we head into Super Tuesday today, with 16 states holding their primary votes. Trump is expected to dominate the Republican contest.
  
  American Airlines has ordered 260 new planes to meet growing travel demand. It’s also leaning into luxury by adding more first-class seats.
  
  Haiti declared a state of emergency after armed gangs broke 3,700 people out of prison. Gang leaders are demanding the prime minister’s resignation.
  
  France became the first country to include the right to abortion in its constitution.
  
  Panera Bread isn’t exempt from California’s new minimum wage law for fast-food workers after all, the governor’s office said after facing criticism for the apparent carve-out and claims it benefited a political donor.
  
  Unions could call for another Hollywood strike if crew members don’t get a good deal from studios.
  
  Trader Joe’s recalled its steamed chicken soup dumplings, which might contain hard plastic from a permanent marker.
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for April delivery ...
  Benchmark U.S. crude oil for April delivery fell $1.23 to $78.74 per barrel Monday. Brent crude for May delivery fell 75 cents to $82.80 per barrel.
  
  Wholesale gasoline for April delivery fell 2 cents to $2.59 a gallon. April heating oil fell 5 cents to $2.65 a gallon. April natural gas rose 8 cents to $1.92 per 1,000 cubic feet.
  
  
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• Dow Jones ends lower as investors await Powell testimony
  U.S. stocks ended lower on Monday, pausing a rally after the S&P...
  U.S. stocks ended lower on Monday, pausing a rally after the S&P 500 logged its 16th winning week out of the last 18. Investors awaited a busy week featuring congressional testimony by Federal Reserve Chair Jerome Powell and all-important jobs data.
  
  The Dow Jones Industrial Average DJIA  went down 97.55 points, or 0.3%, to end at 38,989.83
  
  The S&P 500 SPX shed 6.13 points, or 0.1%, to finish at 5,130.95
  
  The Nasdaq Composite COMP fell 67.43 points, or 0.4%, to close at 16,207.51
  
  The S&P 500 rose 1% last week and has gained 7.6% this year, posting its 15th record finish of 2024 on Friday. The Nasdaq returned to record territory last week.
  
  
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• Diamond Offshore Drilling Announces Contract Extension
  Diamond Offshore Drilling announced that it has executed...
  Diamond Offshore Drilling announced that it has executed a two-year contract extension with a subsidiary of bp in the U.S. Gulf of Mexico for the Ocean BlackHornet, commencing in February 2025 in direct continuation of the rig's current contract.  This contract extension represents approximately $350 million dollars of additional backlog.
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