"Outlook for Spirit Airlines' Rebound and Blocked Merger Appeal"

T.D. Cowen predicts that Spirit Airlines shares will continue to rebound following a federal judge's decision to block its proposed acquisition by JetBlue Airways. The airline's shares rallied after a five-day losing streak and an upbeat revenue forecast, despite concerns about potential bankruptcy. Spirit Airlines and JetBlue have filed an appeal to the judge's decision, and Spirit Airlines also updated its guidance with better-than-expected revenue and operating margin. T.D. Cowen maintained its market perform rating for Spirit Airlines and lowered its price target, while JetBlue shares are down in premarket trades.