U.S. stocks wavered over the flat line Monday following a major rebound last week from this year’s steep declines. Wall Street is preparing to wrap up the worst first half for stocks in decades.
Stocks making the biggest moves premarket: Spirit Airlines, BioNTech, Robinhood and more
Spirit Airlines (SAVE) – Spirit Airlines lost 4.7% in the premarket after saying it would accept the latest improved takeover bid from Frontier Group (ULCC). The latest Frontier cash-and-stock bid is valued at $2.7 billion based on Friday’s closing prices, while the most recent JetBlue (JBLU) all-cash offer is worth $3.7 billion. Spirit believes it is unlikely regulators would approve a combination with JetBlue, a notion that JetBlue has disputed. Frontier lost 1.7% while JetBlue was unchanged.
Stock market news live updates: Stocks struggle for direction after last week’s rebound
U.S. stocks wavered Monday as the major indexes struggled to sustain momentum from last week’s rally.