Check out the companies making headlines in midday trading. Boeing — Shares rose 1.6% after the airline said earlier Monday that CEO David Calhoun will step down at the end of 2024. The company added that Chairman Larry Kellner will also step down. Masimo – The medical technology company rose nearly 5%. Masimo announced on Friday that its board of directors has authorized management to evaluate a spin-off of its consumer business. Wells Fargo upgraded the stock to overweight from equal weight in light of the news. Super Micro Computer – The chip stock jumped nearly 10% after JPMorgan began covering the high-flying name. Analyst Samik Chatterjee issued Super Micro an Overweight rating and gave it a price target of $1,150, which implies an upside of about 18% from Friday's close. Cleveland Cliffs – The steel producer rose 1.4% after announcing it won negotiations to obtain financing from the Department of Energy. Cleveland-Cliffs could get up to $575 million for projects focused on carbon removal technology at facilities in Ohio and Pennsylvania. Semiconductor Stocks – Shares of chipmakers rose Monday, with Micron Technology adding 7%, Nvidia stock jumping 1%, and Arm stock adding nearly 4%. The VanEck Semiconductor ETF (SMH) rose 0.2%. Disney – The entertainment giant added more than 2% after Barclays upgraded it to overweight and noted shares would rise. Separately, Nelson Peltz's Trian Fund Management withheld votes from Disney CEO Bob Iger amid a proxy battle between the activist investor and the media juggernaut. Foot Locker – Shares jumped 7% after Evercore upgraded its stock to outperform. The company cited Foot Locker's turnaround efforts and reinvestment in growth. Rivian – Shares of the struggling automaker fell 1% after Mizuho downgraded its rating to neutral from buy. Electric vehicle stocks have already fallen more than 50% this year. GameStop – Shares rose 12% daily ahead of the video game company's fourth-quarter earnings. Wedbush on Monday maintained its underperform rating on meme stocks, but said GameStop's continued cost discipline and a mixed shift toward higher-margin software could likely support its profitability during the quarter. Digital World Acquisition Corp. The SPAC jumped 26% after shareholders approved a merger with former President Donald Trump's social media company Trump Media & Technology Group, which owns Truth Social. Trump Media could begin trading on Tuesday under the symbol DJT. United Airlines – Shares fell 4% after Reuters reported that the US Federal Aviation Administration will increase scrutiny of United Airlines in the wake of recent safety incidents. – CNBC's Alex Haring, Jesse Pound, Hakyung Kim, Pia Singh and Sarah Min contributed reporting.
