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Spirit Airlines (SAVE) Stock Soars After Lifting Q1 Operating-Margin Guidance

NEW YORK (TheStreet) -- Spirit Airlines (SAVE - Get Report) stock is surging by 5.01% to $52.56 on Tuesday morning, after the carrier raised its operating-margin outlook for the first quarter and posted better-than-expected first quarter revenue.

Yesterday, the company updated its operating margin forecast for the quarter to about 21.5%, up from its past outlook range of 19% to 20.5%.

While total revenue per available seat mile dropped around 14% for the first quarter, this was still better than what the company had previously anticipated...