ULCC - Hot Stocks: SAVE rises on raised JBLU bid; DOC climbs as CEO leaves; bullish note on PLTR; DVA falls
A high-profile bidding war in the airline industry received significant attention in Tuesday's midday trading. Spirit Airlines (NYSE:SAVE) was boosted by a sweetened takeover bid from Jetblue (JBLU). DocuSign (DOCU) also posted a midday gain, bolstered by a surprise leadership change at the company. Meanwhile, Palantir (PLTR) pushed higher thanks to a bullish analyst comment. Looking to the downside, DaVita (DVA) was among the day's standout decliners. Shares dropped following an unfavorable Supreme Court ruling. Gainers Spirit Airlines (SAVE) saw midday strength after receiving an increased takeover offer from Jetblue (JBLU). The new bid has a purchase price of $33.50 per share, up from JBLU's previous offer of $31.50 per share. The proposal includes $32 in cash at closing for each share of SAVE stock, as well as a $1.50 per share prepayment. SAVE still has a merger deal pending with Frontier Group (ULCC). Bolstered by the ongoing bidding war,
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Hot Stocks: SAVE rises on raised JBLU bid; DOC climbs as CEO leaves; bullish note on PLTR; DVA falls