Spirit Airlines Inc. shares declined in the extended session Monday after the discount airline said it lowered its guidance for the year. Spirit shares fell 6% to $59.70 on moderate volume. The company said about 500 flights were cancelled in June because of storms, resulting to a $20 million hit to operating income. Also, Spirit forecast lower-than-expected revenue for the rest of the year because of increased competition. Analysts surveyed by FactSet had estimated earnings of $1.20 a share for the second quarter, and $4.82 a share for the year.
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