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

Spirit Airlines planes on the tarmac at the Fort Lauderdale-Hollywood International Airport on February 07, 2022 in Fort Lauderdale, Florida.

The companies are making news in midday trading.

On news that the company is offering $30 a share to take over the airline, shares of the company dipped 4.7%. The airline turned down a previous offer from the airline. On the takeover news, the shares of Spirit soared.

Eli Lilly's shares jumped 3.2% after the FDA approved the company's treatment for type 2 diabetes. The drug will be available in the United States in the coming weeks.

The bank gave a midquarter update. The reported total deposits are down. The market is experiencing steep losses. Swings in the price ofCryptocurrencies can be reflected in its deposit and transaction volume growth.

Carvana shares gained 4.1% after the online used car retailer forecast a quicker-than- expected timeline for profitability. The plans to cut costs were shared by the company.

The social media company's shares were down as speculation continued about whether Musk would complete his takeover deal. Over the weekend, the CEO of the company said that he had violated a nondisclosure agreement.

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. The transaction is expected to be completed in June.

Ford Motor disclosed in a Securities and Exchange Commission filing that it sold an additional 7 million shares of Rivian. Ford sold 8 million shares last week. Ford shares fell.

The consumer financial services provider's shares rose 3.5% after they were upgraded to overweight from neutral by the investment bank.

The eyewear company fell after it reported a surprise loss of 30 cents per share as compared with estimates of a 1 cent per share profit, according to Refinitiv. Revenue was weaker than expected.

The top gainers in the S&P 500 on Monday were energy names, as oil prices rose after the European Union moved closer to banning crude imports from Russia. APA Corp advanced 4%. Marathon and other companies gained more than 3%.

CNBC's Hannah Miao andSamantha Subin contributed reporting.