Stock Groups

Spirit Airlines, Eli Lilly, Signature Bank and more

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

Joe Raedle. Getty Images| Getty Images

You can see the headline-grabbing companies in Monday’s midday trades.

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 shares rose 11% after the news of its takeover.

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 said that total deposits were down by $1.39 million. As the cryptocurrency market experiences steep losses, this drop is not surprising. Signature has a reputation for supporting crypto institutions. This can reflect in the growth of its crypto-related transaction and deposit volume.

Carvana — Carvana shares gained 4.1% after the online used car retailer forecast a quicker-than-expected timeline for profitability. They also discussed plans to lower 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. It is estimated that the transaction will close by 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 overweightFrom neutral: They have the potential for a rebound of about 50% on earnings momentum during the second quarter and beyond 2023.

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. The company also reported a lower-than-expected income.

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 CorpMore than 4% more advanced MarathonAnd Devon EnergyGained more than 3% along with Chevron.

 — CNBC’s Hannah Miao and Samantha Subin contributed reporting



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