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Spirit Airlines, Eli Lilly, Signature Bank and more


Spirit Airlines aircraft on the Fort Lauderdale Hollywood International Airport tarmac on February 07th, 2022, Fort Lauderdale, Florida.

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These are the top companies that made headlines Monday morning in midday trading.

Spirit, JetBlue — Shares of JetBlue Airways dipped 4.7% on news that the company’s offering $30 a share take over Spirit Airlines. The airline turned down a previous offer from JetBlue amid a planned merger with Frontier Airlines. Spirit’s stock rose 11% upon the announcement of their takeover.

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Eli Lilly — The drugmaker’s shares jumped 3.2% after the Food and Drug Administration approved the company’s tirzepatide treatment for type 2 diabetes for adults. In the next few weeks, the drug will be made available in the United States.

Signature Bank — Shares fell 5.6% after the bank gave a mid-quarter update. Signature reports that $1.39 trillion in total deposits have been lost. This is despite the steep decline in crypto markets. Signature has been known to serve crypto institutions and can show swings in crypto price through its transaction volume and crypto deposit growth.

Carvana — Carvana shares gained 4.1% after the online used car retailer forecast a quicker-than-expected timeline for profitability. It also revealed plans to reduce costs.

Twitter — Twitter shares were 6.6% lower Monday as speculation about whether Elon Musk would complete his takeover deal of the social media company continued. Tesla CEO tweeted over the weekendTwitter’s legal department claimed that he had violated his nondisclosure agreements.

Nucor Corporation — Shares of the steel products manufacturer fell more than 6% after the company announced plans to acquire C.H.I. Overhead Doors is a producer of overhead doors in both the commercial and residential markets. This transaction, valued at $3Billion, is scheduled to close in June.

Rivian, Ford — Shares of Rivian fell more than 8.3% after Ford Motor disclosed in a Securities and Exchange commission filing that it sold another 7 million shares of the electric vehicle maker. It follows Ford’s earlier announcement. sale of 8 million shares last week. Ford shares fell 3.2%.

SoFi — Shares of the consumer financial services provider rose 3.5% after Piper Sandler upgraded them to overweightThey are neutral and believe they can rebound up to 50% if earnings momentum continues into the second half of the year.

Warby Parker — The eyewear company fell 3.7% after it reported an unexpected loss of 30 cents per share, compared to estimates of a 1 cent per share profit, according to Refinitiv, for its most recent quarter. Also, it posted a weaker than expected revenue.

Energy stocks — Energy names were the top gainers in the S&P 500 on Monday, as oil prices got a boost after the European Union moved closer to banning crude imports from Russia. Occidental PetroleumAnd APA CorpIncreased more than 4 percent MarathonAnd Devon EnergyGained more than 3% along with Chevron.

 — CNBC’s Hannah Miao and Samantha Subin contributed reporting