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US markets mixed; Peloton soared 21% on takeover interest; Spirit Airlines jumped 17.17% on merger with Frontier Group

  • The Nasdaq fell 0.58% to close Monday’s session at 14,016 points.
  • Peloton soared 21% on reports of Amazon & others interested in a takeover.
  • Spirit Airlines jumped 17.17% on news of a merger deal with Frontier Group.

The US markets started the week mixed as shares in big tech stocks pulled the markets lower due to high market volatility and the continued release of corporate earnings results.

The Dow Jones rose 0.004% to finish the trading day up 1 point to close at 35,091 points.

The tech heavy NASDAQ fell 0.58% to finish the trading day down 82 points to close at 14,016 points

One bitcoin is worth US$44,101 going into the Asian trading day, jumping more than 4% overnight following the release of better-than-expected jobs data in the US, easing investors’ concerns that the Fed will hike its benchmark interest rate too soon.

The Australian dollar is firm against the major currencies and is buying 71.24 US cents.

Peloton soared 21% following reports that the smart fitness equipment company is drawing interest from Amazon and other companies for a potential takeover. Global athletic apparel giant Nike has also been named as a company interested in taking over Peloton, however Peloton is yet to kick off any formal sales process according to reports.

Shares in Spirit Airlines jumped 17.17% on Monday after the company announced it is merging with Frontier Group in a cash-and-stock deal worth US$6.6bn. By merging the two largest low-cost airlines in the US, the companies combined will become the fifth-largest airline in the US.

And the popular word-a-day guessing game Wordle has been turned into a retro Gameboy game for the 1989-era handheld device by security researcher Stacksmaching.

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