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Check out the companies making headlines in midday trading.
Frontier Group, Spirit Airlines — Shares of Frontier Group and Spirit Airlines rose in midday trading after the companies announced they are merging in a deal valued at $6.6 billion. The two largest low-cost airlines will create what would become the fifth-largest airline in the country. Spirit Airlines surged 14% and Frontier Group was marginally higher.
Peloton — Shares of the exercise bike maker soared 15% after reports that Amazon and Nike expressed interest in buying the company. The reports come a few days after activist investor Blackwells Capital urged Peloton's board to consider a sale of the company. Still, CNBC reported that all talks are preliminary, and Peloton has yet to kick off a formal sales process.
Hasbro — Hasbro shares fell 0.7% even after the toymaker beat Wall Street estimates for its latest quarterly report. Hasbro posted per-share earnings of $1.21, well above the 88 cents a share Refinitiv consensus estimate.
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Tyson Foods — Shares of Tyson jumped 10% after a better-than-expected earnings report. The beef and poultry producer reported earnings of $2.87 per share, beating earnings estimates. Higher meat prices helped boost profit.
Ford — Ford shares dipped 1% after announcing Friday it will suspend or cut production at eight of its North American factories due to the global semiconductor shortage.
Spotify — Spotify was on watch again after
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