Investors are always keeping a close eye on the companies making headlines in the stock market. Here are some of the top stories from midday trading:
Boeing – Shares of Boeing ticked up 1.6% after the aerospace company announced that CEO David Calhoun would step down at the end of 2024. Board chairman Larry Kellner will also be stepping down.
Masimo – The medical technology company saw its stock climb nearly 5% after announcing that it is evaluating a spinoff of its consumer business. Wells Fargo upgraded the stock in light of this news.
Super Micro Computer – This chip stock jumped nearly 10% after JPMorgan initiated coverage with an overweight rating and a price target of $1,150.
Cleveland-Cliffs – The steel producer traded higher by 1.4% after securing funding from the Department of Energy for decarbonization technology projects.
Semiconductor stocks – Chipmakers like Micron Technology, Nvidia, and Arm all saw gains on Monday, with the VanEck Semiconductor ETF ticking up 0.2%.
Disney – The entertainment giant added more than 2% after Barclays upgraded it to overweight. Nelson Peltz’s Trian Fund Management also made headlines by withholding its votes from Disney CEO Bob Iger amid a proxy battle.
Foot Locker – Shares jumped 7% after Evercore upgraded them, citing the company’s turnaround efforts and growth reinvestments.
Rivian – The struggling automaker saw its shares fall 1% after a downgrade to neutral from buy at Mizuho.
GameStop – Shares popped 12% ahead of the company’s fourth-quarter earnings, with Wedbush maintaining an underperform rating but noting potential profitability from cost discipline.
Digital World Acquisition Corp. – The SPAC surged 26% after approval of a merger with Trump Media & Technology Group, which owns Truth Social. The stock could start trading under the ticker symbol DJT.
United Airlines – Shares dropped 4% following reports that the FAA would be stepping up scrutiny of the airline.
Keep an eye on these companies as they continue to make waves in the stock market.
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