Tim McKibben, left, senior installer for solar company Sunrun, and installer Aaron Newsom install solar panels on the roof of a home in Granada Hills.
Mel Melcon | Los Angeles Times | Getty Images
Check out the companies making headlines in midday trading on Monday.
Solar companies – Solar stocks surged after the Biden administration announced it would suspend tariffs on panel products from several Southeast Asian countries. Direct debits will be suspended for 24 months. Shares of Sunrun rose more than 9%, while SunPower jumped 6.3%. Enphase Energy shares rose 7.1%.
Twitter – Twitter shares fell 2.8% after Elon Musk accused the company of “resistance and obstruction” of its right to know about fake accounts on the platform, according to a letter to the company written by his lawyer on Monday.
Eli Lilly – The drugmaker climbed 2.4% after announcing positive results from a study of diabetes drugs Jardiance and Trulicity. Jardiance showed a reduced relative risk of hospitalization for heart failure. Trulicity has been shown to be more effective at lowering A1C levels (the percentage of sugar-coated hemoglobin in your red blood cells) than placebo.
Spirit Airlines – Shares of the discount airline jumped about 6% after its biggest rival, JetBlue Airways, softened its offer to buy the company on Monday. Spirit rejected JetBlue’s initial offer of $30 per share last month. Under the new terms, Spirit shareholders would receive $31.50 per share. JetBlue shares added 1.8%.
Keurig Dr Pepper – Shares of the beverage maker rose 5.1%, along with a handful of other names, after the S&P Dow Jones Indices announced it would be added to the S&P 500 Plus Index later this month. Fellow additions On Semiconductor and Vici Properties each gained around 5%.
DiDi Global – Shares of the Chinese ride-hailing giant jumped 35.2% after the Wall Street Journal reported that regulators were concluding their investigations into the company. The Journal reported that authorities will lift the ban on Didi adding new users as early as next week and restore the company’s app to national app stores. Didi is one of the companies most affected by Beijing’s regulatory tightening and has been under cybersecurity investigation for days after it went public in the United States.
CrowdStrike – Shares of the cybersecurity company rose 4.6% after Morgan Stanley overweighted them from equal weight, calling them buys as the macro environment becomes less certain.
– CNBC’s Yun Li and Fred Imbert contributed reporting