Spirit Airlines shares take a dive due to widespread flight cancellations throughout the country

The airline fell nearly 4% on Wednesday alone and nearly 10% over the last five days.

News 12 Staff

Aug 5, 2021, 12:29 PM

Updated 980 days ago

Share:

Nintendo is reporting sales of its popular Switch console decreased over 21% from last year as the world reopens amid the pandemic. Overall, profits were down over 17% year over year as demand for video games declines. The company is also seeing a lack of revenue from a big title release. Last year, the ultra-popular "Animal Crossing: New Horizons" sold over 10 million copies worldwide. Overall, Nintendo made $2.94 billion in the last quarter and posted operating profits of $1.09 billion.
Shares of Spirit Airlines falling over the past week due to widespread flight cancellations throughout the country. The airline fell nearly 4% on Wednesday alone and nearly 10% over the last five days. This, as more than 50% of the airline's schedule, about 350 flights, had already been canceled by mid-day Wednesday. Spirit cites overlapping weather challenges, system outages, and staffing shortages as reasons for the delays.
Roku shares took a plunge after its earnings report. While the company posted an earnings beat, it showed a sharp decline in streaming TV views and tight hardware margins. Roku shares are down nearly 9% in premarket trading. Streaming hours on Roku platforms decreased over one billion hours from Q1, the company citing consumers going for more out-of-home entertainment activities. It also revealed costs are increasing faster than expected due to "tight component supply conditions and shipping constraints."


More from News 12