Check out the companies making headlines in midday trading Monday.
Solar companies — Solar stocks jumped after the Biden administration announced it would suspend tariffs on panel products from several Southeast Asian nations. The levies will be halted for 24 months. Sunrun shares traded 5.9% higher, while SunPower popped 2.7%. Enphase Energy shares rallied 5.4% higher.
Twitter — Shares of Twitter fell 1.5% after Elon Musk accused the company of “resisting and thwarting” his right to information about fake accounts on the platform, according to a letter to the company written by his lawyer Monday.
Eli Lilly — The drugmaker climbed 2.4% before giving back gains, after it reported successful results from a study involving diabetes drugs Jardiance and Trulicity. Jardiance showed a decreased relative risk of hospitalization for heart failure. Trulicity showed it was more effective in reducing A1C (the percentage of sugar-coated hemoglobin in your red blood cells) levels than the placebo.
Spirit Airlines — Shares of the discount air carrier jumped about 7% after its bigger rival, JetBlue Airways, sweetened its offer to buy the company Monday. Spirit rejected JetBlue’s initial offer of $30 per share last month. Under the new terms, Spirit shareholders would get $31.50 per share. JetBlue shares added 2.1%.
Keurig Dr Pepper — Shares of the beverage maker rose 5%, along with a handful of others names, after S&P Dow Jones Indices announced it would be added to the S&P 500 index later this month. Other additions On Semiconductor and Vici Properties gained 4.8% and 3.4%, respectively.
DiDi Global — Shares of the Chinese ride-hailing giant surged 24.3% after The Wall Street Journal reported regulators are concluding investigations into the company. The Journal reported that authorities would lift a ban on Didi adding new users as early as next week and reinstate the company’s app in domestic app stores. Didi has been one of the worst-hit companies by Beijing’s regulatory tightening and has been the subject of a cybersecurity probe since days after its U.S. IPO.
— CNBC’s Yun Li and Fred Imbert contributed reporting.
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