An airline employee walks past empty American Airlines check-in terminals at Ronald Reagan Washington National Airport in Arlington, Virginia, on May 12, 2020.

ANDREW CABALLERO-REYNOLDS

Check out the companies making headlines midday Monday:

American Airlines — American Airlines dropped more than 6% to become one of the biggest losers in the S&P 500 after the airline said it plans to secure $3.5 billion in new financing, to improve the airline’s liquidity as it grapples with travel restrictions caused by the coronavirus.

Gap — Shares of the retailer surged more than 5% after the stock received a double upgrade from Wells Fargo. The bank upgraded the stock to overweight from underweight, saying the market was undervaluing the company’s Athleta