Stocks making the biggest moves midday: Spirit Airlines, Eli Lilly, Signature Bank and more

cnbc.com:

Check out the companies making headlines in midday trading Monday.

Spirit, JetBlue — Shares of JetBlue Airways dipped 4.7% on news that the company's offering $30 a share to take over Spirit Airlines. The airline turned down a previous offer from JetBlue amid a planned merger with Frontier Airlines. Spirit's shares soared 11% on the takeover news.

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. The drug is expected to be available in the United States in the coming weeks.

Signature Bank — Shares fell 5.6% after the bank gave a midquarter update. Signature reported total deposits are down $1.39 billion. The drop comes as the crypto market is experiencing steep losses. Signature is known for serving crypto institutions, and swings in crypto prices can be reflected in its crypto-related deposit and transaction volume growth.

Carvana — Carvana shares gained 4.1% after the online used car retailer forecast a quicker-than-expected timeline for profitability. The company also shared plans to cut 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. The Tesla CEO <a href=«https://twitter.com/elonmusk/status/1525615849167589380?ref_src=» https: www.cnbc.com target="_blank">tweeted over the weekend

that Twitter's legal team said he violated a nondisclosure agreement.

Nucor Corporation — Shares of the steel products manufacturer fell more than 6% after the company announced plans to acquire C.H.I. Overhead Doors, a manufacturer of overhead doors for residential and commercial markets in the U.S. and Canada.