MNDY - Hot Stocks: SAVE rises on JBLU tender; MNDY falls on guidance; RTLR merger with FANG; NFLX upgrade
Merger news represented a notable catalyst in Monday's pre-market action. This included the ongoing saga of Spirit Airlines (NYSE:SAVE), which rallied before the bell on news that JetBlue (NASDAQ:JBLU) has launched a tender offer for the company. Rattler Midstream (RTLR) also saw pre-market gains, after the company reached a friendly merger deal with Diamondback Energy (FANG). In other news, Netflix (NFLX) edged higher on an analyst's upgrade. Meanwhile, Monday.com (MNDY) dropped, as investors worried about guidance included in the firm's quarterly earnings release. Gainers Spirit Airlines (SAVE) saw massive buying interest in pre-market trading after JetBlue (JBLU) took its bid for the airline hostile. Shares rose 17% as JBLU announced a tender offer to purchase SAVE for $30 per share. Previously, JBLU had offered $33 per share, but SAVE rejected the bid on regulatory worries. Instead, SAVE has repeatedly backed its merger deal with Frontier Air Group (ULCC). M&A headlines
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Hot Stocks: SAVE rises on JBLU tender; MNDY falls on guidance; RTLR merger with FANG; NFLX upgrade