See the companies making headlines in midday trading. Boeing — Shares rose 1.3% after the aerospace company said earlier Monday that CEO David Calhoun would retire at the end of 2024. Chairman of the Board of Directors Larry Kellner will also step down, the company added. Masimo – Medical technology company rose 3.3. Masimo announced Friday that its board of directors has authorized management to evaluate the spin-off of its consumer business. In light of this news, Wells Fargo upgraded the stock from equal weight to outperform. Super Micro Computer. Chip stocks jumped nearly 8% after JPMorgan began covering the big name. Analyst Samik Chatterjee gave Super Micro an “outperform” rating and a $1,150 price target, suggesting upside of about 18% from Friday’s close. CLEVELAND CLIFFS — Shares of the steelmaker rose 1% after announcing it had won negotiations for financing from the Energy Department. Cleveland-Cliffs could receive up to $575 million for projects focused on decarbonization technology at sites in Ohio and Pennsylvania. Semiconductor stocks rose Monday, with Micron Technology up 6.2%, Nvidia up 1% and Arm up 3.1%. VanEck Semiconductor ETF (SMH) fell 0.2%. Disney – The entertainment giant gained more than 3% after Barclays upgraded its rating to outperform and said the stock had more to come. Additionally, Nelson Peltz’s Trian Fund Management withdrew Disney CEO Bob Iger’s votes amid a proxy battle between the activist investor and the media giant. Foot Locker – Shares jumped 6.1% after Evercore raised shares to higher levels. The firm noted Foot Locker’s efforts to turnaround and reinvest in growth. Rivian — Shares of the struggling automaker fell 1.4% after being downgraded to neutral from buy by Mizuho. The EV stock has already dropped by more than 50% in a year. GameStop — Shares rose 15% on the day ahead of the video game company’s fourth-quarter earnings. Wedbush on Monday maintained its underweight rating on the meme stock but said GameStop’s continued cost discipline and shift toward more profitable software could likely support its profitability during the quarter. Digital World Acquisition Corp. — Shares of the special purpose acquisition company jumped 35% after shareholders approved a merger with former President Donald Trump’s social network Trump Media & Technology Group, which owns Truth Social. Trump Media could begin trading on Tuesday under the ticker symbol DJT. United Airlines – Shares fell 3.4% after Reuters reported that the US Federal Aviation Administration will step up scrutiny of United Airlines following recent safety incidents. — CNBC’s Alex Harring, Jesse Pound, Hakyung Kim, Pia Singh and Sarah Min contributed reporting.
