11:54 AM EST, 11/18/2024 (MT Newswires) -- The S&P 500 and Nasdaq Composite were both up in late-morning trading Monday, while the Dow Jones Industrial Average was about flat, as investors prepare for an earnings release from Nvidia (NVDA) later this week.

In company news, Spirit Airlines ( SAVE ) said Monday it has entered into Chapter 11 bankruptcy restructuring with the support of a supermajority of its debtors. The bankruptcy will result in the likely delisting of the company from the New York Stock Exchange and the cancellation of its shares, the company said. The discount airline said it has received commitments for $350 million in equity investments from existing debtholders and will complete a deleveraging transaction to equitize $795 million of funded debt. Spirit's existing bondholders are also providing $300 million in debtor-in-possession financing, which, combined with the company's available cash reserves and cash from operations, are expected to provide support throughout the Chapter 11 bankruptcy process.

Members of President-elect Donald Trump's transition team have informed advisers that they plan to make a federal framework for fully self-driving vehicles a top priority for the Department of Transportation, Bloomberg reported Monday, citing people familiar with the matter. If the Department of Transportation enables cars without human controls, it will directly benefit Tesla (TSLA), according to the report. Shares of Tesla were up 6.4% around noon.

Ford Motor ( F ) is under investigation by the National Highway Traffic Safety Administration regarding complaints about inadvertent deployment of the seat belt retractor pretensioner in model year 2019-2020 Ford Expeditions, the regulator said Monday. The NHTSA said that the complaints allege passengers hearing a loud sound immediately followed by the seat belt rapidly tightening. Ford shares were up 2%.

CVS Health ( CVS ) on Monday appointed four new members to its board of directors as part of an agreement it reached with activist investor Glenview Capital Management. The healthcare company named Glenview Chief Executive Larry Robbins to its board, along with Leslie Norwalk, Guy Sansone and Doug Shulman, taking its total member count to 16. CVS shares were up 5.3%.

Manulife Financial ( MFC ) said Monday that President and CEO Roy Gori has notified the company that he intends to retire in May 2025 and remain as an adviser through Aug. 31. The company named Phil Witherington as Gori's successor. Manulife shares were down 0.1%.

US government health plans account for the majority of coverage for Eli Lilly's ( LLY ) Zepbound and Novo Nordisk's ( NVO ) Wegovy, much more than the reimbursement available from private employers and insurers, Reuters reported Monday, citing an analysis by consulting firm Leverage. Medicaid is the single biggest source of coverage for new weight-loss drugs, giving access to 31.6 million Americans, according to the report. Another 14.6 million federal workers and their dependents have coverage, as well as 6 million state and local government employees and their family members, the reports said. Eli Lilly ( LLY ) shares were down 3.3%, while those of Novo Nordisk ( NVO ) were down 1.5%.

Goldman Sachs ( GS ) is in talks with potential partners as it plans to spin-off its digital assets platform into a new company, Bloomberg reported Monday, citing an interview with Goldman's global head of digital assets, Mathew McDermott. Goldman shares were down 0.4%.

Price: 1.08, Change: -0.24, Percent Change: -18.18